Chief Executives of multiple major American tech companies have recently agreed with Biden Administration Officials to ramp up efforts to improve cybersecurity.
With ransomware attacks rising significantly over the past 18 months, particularly as a result of the COVID-19 pandemic, the pledge will see that firms such as Google – who are set to invest $10 billion over the next five years on bolstering software supply chain and open-source software security – focus a large amount of spending on new methods for securing tech systems and to invest in talent to grow the industry.
During the strategic meeting Microsoft also announced that they would be investing $20 billion over the same time period to ensure that cybersecurity is a key consideration in all software design. Forbes has also reported that IBM are set to train 150,000 people in cybersecurity skills over the next three years.
Commenting on the news, David Carroll, MD, Nominet Cyber, said: “The commitments coming from both the White House and tech giants indicate that there has been a realisation in Washington and across the G7 of the sheer size of the cybersecurity challenge we face and the extent of ambition that’s needed to overcome it.
There has been a historic funding gap for defensive cybersecurity and it’s interesting to see a shift in attitudes to address this – notably, by bringing along the private sector to address the issue at scale.
“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-defence. 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.”