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Plurilock Announces Strategic Focus to Address Growing AI Cybersecurity Threats

  • Plurilock, founded on cybersecurity and AI, has announced a company-wide focus on addressing the cybersecurity threats represented by AI and generative AI tools
  • The generative AI market is currently seeing historically unprecedented growth, yet presents significant risks to the global economy due to data safety issues
  • The Company is actively consulting with its customers on business AI governance and adoption and providing free governance resources as a public service
  • The Company’s AI focus presents significant revenue opportunities by helping its customers reduce risk from generative AI tools while gaining the benefits of automation

Vancouver, British Columbia–(July 17, 2023) – Plurilock Security Inc. (TSXV:PLUR) (OTCQB:PLCKF) and related subsidiaries (“Plurilock” or the “Company”), an AI cybersecurity solutions provider for workforces, today announced its intention to leverage its stable of industry-leading cybersecurity products and services to provide organizations with tools to make employee AI use safe and effective as they roll out Plurilock’s cyber defense and emerging threat protection solutions.

Exploding Market for AI, AI Safety

Generative AI use has seen unprecedented exponential growth during 2023 thanks to its epoch-defining productivity capabilities:

  • Finance departments can use AI to rapidly produce financial reports, forecasts, and statements from raw data
  • Human resources departments can use AI to rapidly generate performance reports, summarize personnel files, write termination letters and reprimands from raw data
  • Engineering departments can use AI to rapidly write complex code, debug existing code, or develop integrations from raw data
  • Physicians and other practitioners can use AI to rapidly propose differential diagnoses from complex case files provided as raw data

On the strength of these abilities, the market for generative AI is expected to reach US$1.3 trillion by 2032, with companies increasingly expecting performance improvements across the board using AI.1

However, as they engage in such tasks today, the raw data that employees provide to enable AI work is often confidential or proprietary company data, representing an immense flood of sensitive data leakage every day and an economy-wide data safety problem that spans the globe. Many forms of data, including data associated with veterans, human resources, loan decisions, healthcare, workplace injuries, and others can be subject to a growing list of regulations and regulators, including NYDFS, HIPAA, GDPR, PIPEDA, CCPA. Mishandling data, even through inadvertent disclosure to a tool that lacks accreditation, can result in fines upwards of 4% of a company’s revenue, as in the case of GDPR.2

Attacks targeting generative AI tools have already been reported, with an alleged 100,000 ChatGPT accounts for sale on dark web marketplaces. These ChatGPT accounts could include data that users type into the application, which might include confidential data and proprietary source code.3

Security teams as a result are clamping down the use of generative AI. To illustrate the scope of the problem, the Company points to widespread reports that major enterprises including Apple, Samsung, JP Morgan, Bank of America, Goldman Sachs, Citigroup, and Deutsche Bank have banned or restricted employee AI use.4, 5

New Resources and Services

As a leading cybersecurity provider founded on AI, with a world-class AI and data science team including multiple in-house PhDs, the Company is positioning customers to succeed and thrive in the new AI landscape by acting as a one-stop AI consultancy that:

  • Assists customers with AI deployment and sound data management
  • Provides expert planning and guidance for AI adoption strategy
  • Works with customers to develop internal AI governance for safe use

“Over the last several weeks, I have had dozens of conversations with senior IT and cybersecurity leaders that are struggling with AI adoption,” said Ian L. Paterson, CEO of Plurilock. “Employee use of generative AI is increasing faster than can be contained. I frequently hear that the use of generative AI is the next smartphone in terms of the speed at which employees are bringing their own devices (BYOD) and using these tools on corporate data and for business purposes.”

Mr. Paterson added, “The risk to companies by misusing, misappropriating, or not securing their data in conjunction with AI use could be existential. At the same time, senior leaders fear lagging behind their competitors who are deploying AI technologies. These leaders are caught between a rock and a hard place – their competitors are using AI, yet they need to maintain data confidentiality-and they’re having to confront all of this while avoiding the ransomware and cyberattacks that are affecting their peers.”

As a public service, the Company has also announced the availability of a free, highly detailed generative AI governance policy template for corporate employees or policy handbooks. The template is designed to ensure that all organizations have access to the resources needed to begin to consider and adopt AI usage and governance policies, and is available at as a PDF download under a Creative Commons license.

Mr. Paterson says that the entire organization is focused on this mission, adding that “at Plurilock, we live at the intersection of AI and cybersecurity-and we believe that today the market is desperate for AI safety services and solutions that Plurilock is uniquely able to provide. Generative AI looks to be the next gold rush, and it needs adequate picks and shovels to use it safely.”

About Plurilock

Plurilock secures workforces in the age of AI through its Plurilock AI platform, delivering advanced identity, access management, data safety, and AI safety solutions to commercial and government customers worldwide. With patented artificial intelligence and patented real-time identity confirmation technology, Plurilock AI enables zero-trust architecture and threat detection and response capabilities for regulated organizations with remote workforces. Through its Solutions Division, Plurilock aggregates world-class IT services and brings a comprehensive line of products that enable teams across North America and the globe to compute safely in a remote work world.

For more information, visit or contact:

Ian L. Paterson
Chief Executive Officer

Prit Singh
Investor Relations

Forward-Looking Statements

This press release may contain certain forward-looking statements and forward-looking information (collectively, “forward-looking statements”) related to future events or Plurilock’s future business, operations, and financial performance and condition. Forward-looking statements normally contain words like “will”, “intend”, “anticipate”, “could”, “should”, “may”, “might”, “expect”, “estimate”, “forecast”, “plan”, “potential”, “project”, “assume”, “contemplate”, “believe”, “shall”, “scheduled”, and similar terms. Forward-looking statements are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. Although management believes that the forward-looking statements herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Plurilock’s business. Additional material risks and uncertainties applicable to the forward-looking statements herein include, without limitation, the impact of general economic conditions, the success of the Company in obtaining new or extended contracts or orders; the Company’s ability to maintain existing customers or develop new customers; the Company’s ability to successfully integrate acquisitions of other businesses and/or companies or to realize on the anticipated benefits thereof; and unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant. This list is not exhaustive of the factors that may affect the Company’s forward-looking statements. Many of these factors are beyond the control of Plurilock. All forward-looking statements included in this press release are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this press release are made as at the date hereof, and Plurilock undertakes no obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Risks and uncertainties about the Company’s business are more fully discussed under the heading “Risk Factors” in its most recent Annual Information Form. They are otherwise disclosed in its filings with securities regulatory authorities available on SEDAR at

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Featured Image @ FreePik


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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Plurilock Security Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Plurilock Security Inc.’s industry; (b) market opportunity; (c) Plurilock Security Inc.’s business plans and strategies; (d) services that Plurilock Security Inc. intends to offer; (e) Plurilock Security Inc.’s milestone projections and targets; (f) Plurilock Security Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Plurilock Security Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Plurilock Security Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Plurilock Security Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Plurilock Security Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Plurilock Security Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Plurilock Security Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Plurilock Security Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Plurilock Security Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Plurilock Security Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Plurilock Security Inc.’s business operations (e) Plurilock Security Inc. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Plurilock Security Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Plurilock Security Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Plurilock Security Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

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