Beefing up businesses' cybersecurity | The Exchange - video Dailymotion

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Your business is our business. Join our senior anchor Rico Hizon on The Exchange.  Tens of millions could be lost by companies from a single data breach. And so most businesses now opt to get help in beefing up their cybersecurity apparatus. Let's have an exchange with IBM Security’s Chris Hockings joining us from Brisbane, Australia.   Visit our website for more #NewsYouCanTrust: https://www.cnnphilippines.com/  Follow our social media pages:  • Facebook: https://www.facebook.com/CNNPhilippines • Instagram: https://www.instagram.com/cnnphilippines/ • Twitter: https://twitter.com/cnnphilippines

Transcript

00:00 [Music]

00:09 Welcome back right here on The Exchange, where your business is our business.

00:14 I'm Rico Hizon.

00:16 [Music]

00:22 Tens of millions could be lost by companies from a single data breach.

00:26 And so most businesses now opt to get help in beefing up their cybersecurity apparatuses.

00:32 Let's now have an exchange with IBM Securities' Chris Hawkins, joining us now from Brisbane, Australia.

00:38 Chris, great to have you with us.

00:39 How important is it for enterprises to strengthen their cybersecurity initiatives and crack down on online attacks?

00:48 Well, I think it's critical, and that's for a number of reasons.

00:52 First of all, the attackers continue to use advanced technology against us.

00:56 We're continuing to expand our IT landscape across cloud environments, et cetera.

01:02 And you really do need to keep looking at your cybersecurity deployment technology,

01:08 the people you're using, the efficiency of those systems,

01:11 and making sure that they're really up to date with the modern threats that we face because of this new world.

01:18 And Chris, we just heard from our previous guests on Filipino cybersecurity procedures.

01:23 How does the Philippines fare compared to the rest of the Asia Pacific in terms of online safety?

01:32 Well, I think there's a few trends that I wanted to talk about with you today.

01:36 First of all, the cost of breaches continue to go up, and that's fairly common across every single market.

01:42 But the one area that's really making a dent in the cost of a data breach,

01:46 and really what we're trying to do is to reduce the overall time it takes for us to detect, respond, and recover from breaches.

01:53 And the use of advanced technology such as AI and then automation as well is showing some real signs of reducing that overall time and therefore the cost.

02:03 Organizations in the Philippines, in ASEAN, are starting to take up this technology with the help of advanced technology vendors like IBM.

02:12 And that is resulting in reductions of around a third, in some cases, the overall cost of a breach and reducing the number of days by 100,

02:21 almost 100 in ASEAN around the time it takes to detect and respond.

02:28 So if you look at that against the regulatory landscape, there's good policy being created around protection of critical infrastructure.

02:38 This is mirroring those activities that are happening in other regions.

02:42 Some regions are more advanced than others.

02:44 But also when you look at that SIM registration act that you've passed, you know,

02:50 it has to be a continuous improvement not just in the technology adoption and programs,

02:55 but also in that regulatory landscape and the maturing of that as well.

03:00 But what are the common mistakes, Chris, committed by organizations that expose them further to cyber criminality?

03:10 Well, I think there's a number of lessons that we all can learn, individuals, government and business.

03:16 If you look at some of the data, a good percentage of the cyber breaches that happen occur via stolen or phished credentials

03:26 and implementation of things like second factor authentication can simply remove that threat entirely.

03:32 So that kind of narrows down the attack temptations that an attack would use to go after you.

03:39 I think the second part is that as IT landscape expands, so too does the IT that's exposed to the Internet.

03:46 And therefore there's what's known as an attack surface that grows.

03:50 Continuously monitoring that attack surface and looking at it from the attacker's perspective as to what house, what door,

03:58 what window leads to the loot is something that's a modern practice that many organizations are starting to embark on.

04:05 So understanding that attack landscape and then intermixing that, of course, with patching as well.

04:11 You won't 100% get to fully patched and not vulnerable systems,

04:16 but you need to take a risk methodology across all of that and make sure that those high impact,

04:22 in a lot of cases, low cost visibility elements are used to lower that risk as an end to end advance of the cybersecurity strategy.

04:35 My question for you now is, what is your advice for firms that want to beef up their cybersecurity apparatuses

04:41 but are constrained in resources like finances and manpower?

04:47 Well, I've talked a lot about manpower or skills as being solved by modern technology advances.

04:55 And if you look at this cost for data breach report, it does show that analytics, AI and automation is having a dramatic effect on that overall cost.

05:05 And that translates to the people side of things, because you can get those people being more proactive.

05:12 You can give them more meaningful work by making sure that you continually look at your budget,

05:19 what technology that you're being used, make sure that it's rationalized and modernized so that you remove some of your financial impediments that exist in traditional security programs.

05:33 We know that as the threat landscape has increased, many of the systems that organizations use are no longer able to stretch to those new ways of working.

05:45 And I think there's enormous opportunity in what we're seeing in organizations is a rationalization and then the use of analytics to reduce the overall time it takes to detect and respond,

05:55 the cost of those programs and also better use of the people that they've got.

06:00 So AI is one of those tools, those assists that you can use to make people more productive.

06:07 And as you get more people, you're going to be able to scale and expand more quickly and then reduce that overall cost over time.

06:15 Thank you so much for this business security, cybersecurity exchange, IBM Securities.

06:21 Chris Hawkins joining us from Brisbane, Australia.

06:24 And before we go here, words from cybersecurity strategist, Matthew Rosenquist.

06:29 Cybersecurity may be fought with technology, but it is people who triumph.

06:34 We must invest in the future generations of professionals who will carry on the fight.

06:40 And this is the exchange who makes sense of the facts and the figures and the ups and downs of the business cycle because your business is our business.

06:47 I'm Rico Gizon. Thanks for watching CNN Philippines.

06:50 News you can use. News you can trust.

06:53 (Music)

Beefing up businesses' cybersecurity | The Exchange

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