ZeroFox Announces Generative AI Capabilities, Develops FoxGPT
Inspired by ChatGPT, the external cybersecurity innovator begins to release generative AI to augment intelligence workflows
WASHINGTON – May 10, 2023 – ZeroFox (Nasdaq: ZFOX), a leading external cybersecurity provider, announced its plans for releasing generative AI into its External Cybersecurity Platform with the preview of FoxGPT. FoxGPT capabilities will optimize intelligence analyst workflows with the ability to analyze and contextualize malicious content online, enhancing the ability to combat the growing sophistication of cybercriminals. Built by cybersecurity and intelligence professionals, for cybersecurity and intelligence professionals, ZeroFox commits to AI transparency, security, and privacy of information.
Recent cutting-edge advancements in AI, including the release of GPT 3.5, followed by GPT 4.0, are part of a larger, fast-paced AI revolution poised to change how humans and technology interact. As companies embrace these advancements to streamline and automate certain aspects of their business, threat actors are also embracing generative AI capabilities for more sophisticated phishing and fraud, social engineering, spam, and the production of malicious content. ZeroFox’s adaptation of generative AI, FoxGPT, accelerates the analysis and summarization of intelligence across large datasets, allowing the identification of malicious content, phishing attacks, and potential account takeovers.
“We at ZeroFox are consistently dedicated to external cybersecurity innovation, and I’m thrilled to share the next step in our innovation roadmap with the development of generative AI capabilities within our platform, FoxGPT,” said Mike Price, CTO at ZeroFox. “We understand the impact of generative AI and the risks of threat actors abusing it. We’re committed to harnessing this technology while capturing explainable results and the security and confidentiality of customer data.” ZeroFox has steadily integrated other machine learning capabilities into its platform over the past few years, enhancing its ability to keep pace with emerging technologies.
FoxGPT is a significant advancement for ZeroFox, enabling it to provide even more powerful external cybersecurity platform capabilities. ZeroFox is committed to AI transparency, security, and privacy of information in order to give customers the confidence that their data is secure.
ZeroFox plans to responsibly release FoxGPT to opt-in customers throughout the year.
ZeroFox (Nasdaq: ZFOX), an enterprise software-as-a-service leader in external cybersecurity, has redefined security outside the corporate perimeter on the internet, where businesses operate, and threat actors thrive. The ZeroFox platform combines advanced AI analytics, digital risk and privacy protection, full-spectrum threat intelligence, and a robust portfolio of breach, incident and takedown response capabilities to expose and disrupt phishing and fraud campaigns, botnet exposures, credential theft, impersonations, data breaches, and physical threats that target your brands, domains, people, and assets. Join thousands of customers, including some of the largest public sector organizations as well as finance, media, technology and retail companies to stay ahead of adversaries and address the entire lifecycle of external cyber risks. ZeroFox and the ZeroFox logo are trademarks or registered trademarks of ZeroFox, Inc. and/or its affiliates in the U.S. and other countries. Visit www.zerofox.com for more information.
Certain statements in this press release are “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, that address activities, events or developments that we expect, believe or anticipate will or may occur in the future, including the ability of ZeroFox to achieve its objectives are forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated by these forward-looking statements. The inclusion of any statement in this press release does not constitute an admission by ZeroFox or any other person that the events or circumstances described in such statement are material. These risks and uncertainties include, but are not limited to, the following: defects, errors, or vulnerabilities in the ZeroFox platform, the failure of the ZeroFox platform to block malware or prevent a security breach, misuse of the ZeroFox platform, or risks of product liability claims that would harm our reputation and adversely impact our business, operating results, and financial condition; if our enterprise platform offerings do not interoperate with our customers’ network and security infrastructure, or with third-party products, websites or services, our results of operations may be harmed; we may not timely and cost-effectively scale and adapt our existing technology to meet our customers’ performance and other requirements; our ability to introduce new products and solutions and features is dependent on adequate research and development resources and our ability to successfully complete acquisitions; our success depends, in part, on the integrity and scalability of our systems and infrastructure; we rely on third-party cloud providers to host and operate our platform, and any disruption of or interference with our use of these offerings may negatively affect our ability to maintain the performance and reliability of our platform which could cause our business to suffer; we rely on software and services from other parties; we have a history of losses, and we may not be able to achieve or sustain profitability in the future; if organizations do not adopt cloud, and/or SaaS-delivered external cybersecurity solutions that may be based on new and untested security concepts, our ability to grow our business and our results of operations may be adversely affected; we have experienced rapid growth in recent periods, and if we do not manage our future growth, our business and results of operations will be adversely affected; we face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition, and results of operations; competitive pricing pressure may reduce revenue, gross profits, and adversely affect our financial results; adverse general and industry-specific economic and market conditions and reductions in customer spending, in either the private or public sector, including as a result of inflation and geopolitical uncertainty such as the ongoing conflict between Russia and Ukraine, may reduce demand for our platform or products and solutions, which could harm our business, financial condition and results of operations; the COVID-19 pandemic could adversely affect our business, operating results, and financial condition; if we fail to adapt to rapid technological change, evolving industry standards and changing customer needs, requirements or preferences, our ability to remain competitive could be impaired; one U.S. government customer accounts for a substantial portion of our revenues; and we rely heavily on the services of our senior management team.
Additional information concerning these, and other risks, is described under the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations of ZeroFox”, and “Management’s Discussion and Analysis of Financial Condition and Results of Operations of IDX” sections of our final prospectus filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b) under the Securities Act of 1933 on April 12, 2023, in connection with our registration statement on Form S-1 and in subsequent reports that we file with the SEC. We expressly disclaim any obligation to update any of these forward-looking statements, except to the extent required by applicable law.
Malory Van Guilder