Tackling Cyber Risks: Today’s Challenges and the Road Ahead
Baird’s recent Silicon Slopes Software Conference brought together leaders and investors from across the sector. As part of this year’s programming, Matt Russell, Managing Director in Baird’s Global Technology & Service group, joined cybersecurity leaders to discuss the current cybersecurity landscape.
We summarize key takeaways from the panel below. Thanks again to our panelists:
- Tim Byrne, CIO, Baird
- David Faugno, President & COO, 1Password
- Kip Meintzer, Global Head of IR, Check Point Software Technologies Ltd
Enterprises are facing an increasing number of security challenges.
- Severe cyber talent shortage and experience gap
- Sophistication and velocity of attacks continues to increase and AI is making it worse
- Enterprises are overwhelmed by the number of alerts
- Increased budgetary pressure and focus from Boards and regulatory agencies
- Attack surface is expanding and shadow IT is increasing, changing the nature of threats
Platforms are becoming a more popular approach.
- Enterprises are looking to reduce the number of vendors
- Networking and security are converging
- Platforms are effective in dealing with complexity and cost pressures
- Most platforms are offering a managed service component
- Point solutions are winning where there is unique innovation
Managed services are an important part of addressing talent shortage and experience gap.
- For smaller enterprises it is more cost effective and flexible than hiring a full security team
- Broad group of cyber “experts” that can address unique threats
- Around the clock monitoring for distributed enterprises
- Customers are embracing proactive monitoring stance vs. reactive only
The “human element” is a key part of cybersecurity.
- Human error is a critical factor in the threat environment
- Compromised identities account for a large number of threats
- Behavioral analysis technologies that utilize AI are increasing
- Managing credentials is critical and creating demand for identity and access management technologies
Baird’s Cybersecurity Software team has extensive experience advising across the sector. Our sector expertise covers network and endpoint security, security operations, identity and access management, security awareness training, threat intelligence, data security, application security, and managed security services.
