Cyber Security: A Backbone for Innovation in the Modern World

In today’s digital age, organizations fear few phrases greater than they do “cyber security.” It’s understandable. Those two words are usually uttered in the same breath as “hack” and “breach,” security incidents which often cost companies millions of dollars in legal fees and other damages. Framed this way, “cyber security” implies a constant struggle speckled with numerous missteps and losses. It’s not something to be celebrated; it’s something to dread.

That’s the conventional wisdom, anyway. Some are working to change that.

At the forefront of this countermovement is Daniel Riedel, who serves as chief executive officer and board director of New Context and is the coauthor of the forthcoming book “Lean Security.” Riedel has over 20 years of experience working in technology and infrastructure. He is an entrepreneur with experience building secure, scalable technologies and businesses. He also has experience in engineering, security, and operations.

Riedel feels businesses cannot grow or innovate without placing emphasis on cyber security:

“If organizations want to innovate, they need cyber security. The latter is the backbone of the former. It’s an enabler of positive change. Organizations should recognize the potential of  cyber security to help them grow and innovate into the future.”

One of the key ways Riedel feels companies can leverage cyber security to achieve innovation is to invest in threat intelligence, a perspective he will be sharing at Borderless Cyber Europe.

For his presentation, he will discuss how threat intelligence builds confidence in one’s network environment. Greater confidence empowers organizations to build stronger systems, Riedel argues. By necessity, stronger systems are smarter and better, which can usher in exciting opportunities for innovation.

Not everyone feels this way. Some might even argue it’s better for companies to isolate themselves and their systems from the web. In Riedel’s mind, those companies are missing a crucial point:

“Systems that don’t connect to the Internet are absolutely more secure than those that do. But they have a weakness; because they don’t have a strengthened, secure environment that enables them to connect, they’ve handcuffed their innovation and what they can learn from data sharing. For example, without machine readable threat intelligence, a key piece of the cyber security puzzle, critical infrastructure organizations can’t know what’s threatening their endpoints and can’t build better systems to efficiently defend against attacks. At the same time, other entities in the world that do not isolate themselves and choose to embrace threat intelligence and cyber security will get an advantage. Those connected infrastructures will innovate more quickly, whereas isolated infrastructures who could benefit from something like GE’s Predix for the Industrial Internet will naturally fall behind. In this scenario, we’ve now allowed fear to essentially destroy innovation and competitive edge.”

That is a foregone conclusion. Organizations, and even countries, can either work with cyber security or prepare for the economic onslaught that’s sure to follow.

In his upcoming presentation, Riedel hopes attendees will see we’re all living in the same world and that enterprises need to share information and protect citizens regardless of economic competition. He also wants board members to realize why it’s important to support cyber security as well as chief security officers (CSOs) to begin linking innovation and cyber security together.

To learn more about Riedel’s presentation, please click here.

Borderless Cyber Europe will occur on 8-9 September at the European Commission in Brussels, Belgium. There, attendees will have the opportunity to discuss the importance of sharing threat information and learn from the experiences of one another.

To learn more about Borderless Cyber Europe, please click here.