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STOCKHOLM — John Hopfield and Geoffrey Hinton were awarded the Nobel Prize in physics Tuesday for discoveries and inventions that formed the building blocks of machine learning.

“This year’s two Nobel Laureates in physics have used tools from physics to develop methods that are the foundation of today’s powerful machine learning,” the Nobel committee said in a press release.

Hopfield’s research is carried out at Princeton University and Hinton works at the University of Toronto.

Organizations are losing between $94 — $186 billion annually to vulnerable or insecure APIs (Application Programming Interfaces) and automated abuse by bots. That’s according to The Economic Impact of API and Bot Attacks report from Imperva, a Thales company. The report highlights that these security threats account for up to 11.8% of global cyber events and losses, emphasizing the escalating risks they pose to businesses worldwide.

Drawing on a comprehensive study conducted by the Marsh McLennan Cyber Risk Intelligence Center, the report analyzes over 161,000 unique cybersecurity incidents. The findings demonstrate a concerning trend: the threats posed by vulnerable or insecure APIs and automated abuse by bots are increasingly interconnected and prevalent. Imperva warns that failing to address security risks associated with these threats could lead to substantial financial and reputational damage.