A private sector cyber-summit at the White House has prompted big technology giants, including the ever-present players like Google and Microsoft, to pledge billions of dollars in cyber-related spending, as the Financial Times reports. In addition, the Biden administration has managed to persuade these major players to agree to a host of other commitments.
As an example, Microsoft announced it will invest $20 billion over the next 5 years to accelerate efforts to integrate cybersecurity by design and deliver advanced security solutions. Additionally, Google announced it will invest $10 billion over the next five years to expand zero-trust programs, help secure the software supply chain, and enhance open-source security.
These commitments are clustered around mechanisms designed to strengthen U.S. cyber defenses. This is part of Biden’s concerns that the most serious threats to the U.S. will come not from a gun but via the Internet.
Following the meeting, the White House said the National Institute of Standards and Technology would work with companies to improve the integrity of the “software supply chain”.
Looking at this development for Digital Journal is David Carroll, who is the Managing Director of Nominet Cyber.
Carroll begins by looking at what the policy measures entail, finding: “The commitments coming from both the White House and tech giants indicate that there has been a realization in Washington and across the G7 on the sheer size of the cyber security challenge we face and the extent of ambition that’s needed to overcome it.”
This signals a level of understanding that there is a virtual hole that needs to be plugged, as Carroll notes: “There has been a historic funding gap for defensive cybersecurity and it’s interesting to see a shift in attitude to address this – notably by bringing along the private sector to address the issue at scale.”
Carroll adds the current climate has been especially challenging, for as the world has been preoccupied with a biological viruses the array of computer viral challenges has continued to grow.
With this threat, Carroll states: “Following a year where we saw major breaches and ransomware attacks targeting critical national infrastructure, it’s clear that a step change is needed in cyber defense.”
As to how this might be tackled, Carroll calls for a socialized approach, recommending: “Government intervention and close public-private partnerships are the way to do this. Above all, these latest initiatives set a powerful precedent, demonstrating the bold and necessary steps needed for us to rise to the challenge and create a more secure society – the gloves are well and truly off.”
