CyberTech 2020: Insights From Eli Migdal (Part 1)
Our founder Eli Migdal attended the CyberTech 2020 event. In this video, he is discussing the biggest issue cybersecurity is facing right now – response times to new threats.
He explains that the issue isn’t in lack of solutions and that there are numerous vendors that are working on different solutions for the same problem. He further stated that he counted at least 15 cybertech companies that are working on solving fraud detection and breaches, which gives him the perfect opportunity to address a rather pressing issue – choosing the right solution.
“How can we quickly choose between them if there are so many solutions?”
Eli argues this is the tricky part of the cybersecurity business. There are different solutions that all work well for a particular issue, but which one is best?
“As professionals, we still need to investigate those solutions.”
While a solution might sound good on paper, it will be clearer if it’s the right choice after having a proof of concept and evaluation.
This process of determining the best solution cannot be sped up, but the process that follows can be. The solution cybersecurity experts choose needs to be presented in front of the board of directors.
“We must make it quicker,” he says about the process of getting approval for the solution cannot wait, especially when there are so many threats to address and so many solutions to choose from.
He explains that the risk of security and breach issues can be mitigated greatly if organisations move quickly enough. This means that the decisionmaking process of the board “must be quicker than the bad guy’s”.
“We don’t have a technical solution problem […] the cybersecurity community can solve the majority of the problems; we just need to move quick enough.”
This means that we need to have the means to speed up the decisionmaking. When the decisionmaking is quicker than the bad guy’s decision-making process, we’ll be able to address cybersecurity before it becomes an issue.