Raj Samani (Intel Security), Oli Newbury (BT)
Cyber is on the risk register of almost every company today. This sentence has been mentioned to both of us on a number of occasions, and whilst it will be simple to overlook the implications of what this means it is important to recognize the critical role that technology plays within every organization across the world. Moreover, this has changed the expectations of those tasked with keeping these systems available to employees and external stakeholders, and data protected.
There is a misconception that prevails within business that information security (or cyber security) is about malware, but the truth of the matter is that it is about ensuring that trust is built into digital systems. Of course the latter term digital systems has changed to not only include phones, tablets, and computers but the introduction of IP into every electrical device means that digital systems now include cars, fridges, and even the humble doorbell. A lack of trust into these digital systems will serve as a commercial risk to the providers of this technology, who incidentally will be tasked with storing and processing the data we as consumers entrust with them. The term used here is abnormal churn rate, according to the Ponemon Institute, in other words the number of customers that have lost trust in their provider because of a security breach.
At present this figure sits somewhere around 3%, however the trend across the many years of research is that this number is increasing. Perhaps more concerning is that there are those impacted organizations that are routinely held up as the case study following a significant breach, where the impact of the loss of trust can be considerably greater. We all know who they are, but with proceeding class action law suits and users no longer willing to trust a company with their data, a breach shouldn’t be fatal but we do now see examples where this is indeed the case.
As attendees make their way to Olympia to understand the latest the information security has to offer, our role to the business has significantly changed. From the people working within IT, to being a critical component of the business tasked with not only protecting digital systems, driving (or participating) in digital disruptive services in order to maintain competitive advantage, acting as advisors to the board.
Find out more about why we are joining forces to tackle tomorrow’s threats today.