Tech giants pledge billions to beef up cybersecurity

3 min read | August 27, 2021 11:53 AM AEST | By Team Kalkine Media

Highlights

  • In the present tech-driven era, every country is susceptible to malicious attacks by cyber terrorists.
  • The US administration has beefed up its efforts to enhance cybersecurity and taken several actions against cyber-threat challenges.
  • Various companies, including Google, Microsoft and Apple have proposed to launch several initiatives worth billions to ameliorate the nation’s cybersecurity.

We may have come far ahead in the field of technology, but our tech products remain vulnerable to threats posed by hacking and cybercrimes. From WhatsApp chats to the most advanced artificial intelligence elements, everything that we are dependent on is susceptible to malicious attacks by cyber terrorists.

In the present tech-driven era, America as well as its economy are facing a serious national security challenge in terms of cyberspace. Thus, the US administration has beefed up efforts to enhance its cybersecurity.

Image source: © Beebright | Megapixl.com

Related Read: Four ASX cybersecurity stocks in focus - AR9, CPT, FZO, TNT

High-Profile Meeting over Cybersecurity

Recently, US President Joe Biden held a meeting with leading players of the tech sector over cybersecurity. The meeting concentrated on efforts to build a stronger and more robust cybersecurity workforce, in order to successfully tackle the mammoth challenge of cyberthreat.

The proceedings on the grandstand with some of the bigwigs of the tech space concluded with some major commitments.

Global Giants Commit to Enhance Cyber Protection

Various companies, including Google, Microsoft and Apple have proposed to launch several initiatives worth billions to ameliorate cybersecurity.

Here are the details:

  • Google has assured to invest US$10 billion for boosting zero-trust programs, making the software supply chain more secure, and improving open-source security, during the next five years.
  • Microsoft Corporation has announced an investment of US$20 billion to put together security solutions to ensure infallible cybersecurity. The Satya Nadella-led firm has also offered US$150 million for technical services that would aid the US government in the mission.
  • Apple Inc. has announced to formulate a new program in response to growing cyberthreat. The global tech giant will be working in association with its suppliers to improve cybersecurity throughout the technology supply chain. Under the program, the company will adopt multi-factor authentication, security training, vulnerability remediation, event logging, and incident response.

Amazon, IBM and Code.org are some of the other participating companies which will be contributing to build an impenetrable shield against cyberthreat.

Image source: © Sasun043420252 | Megapixl.com

Related read: Which are the top five technology stocks on the ASX?

Recent government actions against the challenge of cybersecurity   

  • The US administration passed an executive order earlier this year wherein it stated that the federal government will only deal in those tech products that are secured against cyberthreat and meet cybersecurity standards.
  • In April, a 100-day initiative was launched to upgrade security against cyberattack by deploying cybersecurity technologies across the electric sector.
  • Amendments were introduced in the cyber defense policy of the North Atlantic Treaty Organization (NATO) to tackle the issue better.

Undoubtedly, the threat of cybercrimes is looming large on businesses, govts, individuals and organisations across the globe. Hence, all the governments and organisations need to work in unison for protection of the cyberspace.

Bottom Line

The battle against cyberattack can be led and won only if cybersecurity becomes an integral part of every set-up that runs on tech products and is connected to an online network. Other big tech firms too need to step up to prioritise and bolster cybersecurity.  

Must Read: 10 global technology companies


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