KUALA LUMPUR, Feb 21 (Bernama) -- Willis Lease Finance Corporation (WLFC) and the world’s most advanced aircraft data and records management platform, FLYdocs have jointly developed a pilot programme in the digital transformation of the aviation industry.
The programme demonstrates the use of blockchain technology on an open source data sharing platform for aircraft, engine and component records. The cutting-edge development attempts to be the first real use of a blockchain and artificial intelligence (AI) solution for managing commercial aircraft, engines and component transitions. The sharing economy created would present an opportunity to decentralise data exchange, eliminate silos and create a transparent environment for collaboration, with added-value distribution for airlines, industry partners, vendors, manufacturers and regulators. Users of the platform can expect reduced friction in the transfer of assets, purchases, leases and aircraft sale. WLFC chairman and chief executive officer (CEO), Charles F Willis said the fundamental goal of the project was to provide increased data integrity, record immutability and security to the aviation industry. “Although Willis Lease and FLYdocs are acting as architects for the development of this communal platform, users will be able to access the wealth of data and resources autonomously,” he added. Meanwhile, FLYdocs CEO, Andre Fischer said the immediate value proposition for airlines would be the reduction in working hours that were typically required to comply with lease and ownership transitions. He expected airlines and data analysts to use the disruptive technology to drive significant efficiency gains in the maintenance, safety and aircraft security within the industry over the next decade. WLFC leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repairs and overhauls providers in 120 countries. -- BERNAMA KUALA LUMPUR, Feb 20 (Bernama) -- European unmanned warfare systems developer, Milrem Robotics and Electro Optic Systems (EOS) have jointly brought lightweight 30mm lethality to the unmanned ground vehicle (UGV) market.
Exhibited at IDEX 2019 in Abu Dhabi, the weaponised warfare system features the THeMIS UGV equipped with the R400S – Mk2-HD (dual) RWS mounting 30mm ATK M23 LF cannon and a coaxial 7.62mm GPMG. The remotely operated vehicle enhances a land force’s firepower; situational awareness due to advanced sensors; increases stand-off distance, and is especially, effective against light armoured vehicles. According to a statement, the vehicle can also be equipped with autonomous functions used for area or perimeter patrolling for which the system will always be under the control of a human (man-in-the-loop). “Due to the system’s light weight and size, our joint product can be rapidly deployed with mounted and/or dismounted units, requiring less logistical effort,” said Milrem Robotics chief executive officer, Kuldar Väärsi. This is the first integration project for the two companies and the largest calibre cannon fitted to the THeMIS platform. Milrem Robotics and EOS are planning to test-fire the system as soon as possible. -- BERNAMA KUALA LUMPUR, Feb 21 (Bernama) -- Singapore is home to one of the world’s highest card fraud. Hence, the island republic’s financial industry in 2017 committed to data analytics to combat financial crime.
In line with this commitment, fraud detection and risk management solutions provider, Featurespace launched a groundbreaking, anti-fraud technology into the Singapore market. The technological platform uses machine learning to detect anomalies in individual behaviour for fraud and risk management. It was first developed by the world’s leading computer scientists in Cambridge University, England. Featurespace’s real-time ARIC™ platform uses Adaptive Behavioural Analytics to self-learn and continuously respond to new customer data. By understanding the behaviour of each individual banking and credit card customer, ARIC identifies new and known attacks and nips fraud in the bud, while accepting more genuine businesses. As such, ARIC reduces false positives by 70 per cent, increasing revenue and reducing customer friction. Featurespace chief executive officer, Martina King said millions of Singaporeans fell victim to a myriad of large-scale fraud attacks in the recent past. “By implementing machine learning technology, we can help banks and credit card providers outsmart the criminals and build safer banking infrastructure.” According to the Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership, lenders are looking at using data analytics to detect suspicious transactions because current systems mistakenly identify fraud, resulting in declined transactions. -- BERNAMA |
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