2015 has been one hell of a year in the world of cybersecurity. We have seen the trend of successful cyber-attacks against major international companies continue. We have also seen a commensurate and highly reactive increase in cybersecurity spending as companies struggle to get ahead of their attackers. A remarkable example reared its head in August of this year when the Wall Street Journal reported that J.P. Morgan Chase & Co. projects approximately $500 million in cybersecurity spending in 2016. This is more than double the $250 million cybersecurity it spent in 2014, and is expected to continue its meteoric rise into 2017.
Eye-popping numbers like these ones are made all the more striking considering that across the financial sector companies are spending similar amounts. Across all sectors, large companies are making enormous increases to the amount they spend on cybersecurity. Further adding weight to the magnitude of the problem is the fact that despite these increases in executive attention and spending, massive, high-profile breaches have beset these very companies with startling & increasing severity.
The fundamental question that comes to mind is this: if we are focusing more of our time, efforts, and dollars to the problems around cyber-security, why isn’t cybersecurity getting any better?
As we approach 2016, I’m amazed to realize that there are more cybersecurity products and companies now than ever before. Some of the brightest minds within some of the best equipped companies are working on creating new layers of security that are intended to combat and contain these breaches. Yet, despite the proliferation in types and complexities of these solutions, hackers still seem to be able to find exploitable paths to attacking companies.
Unfortunately, these new approaches continue to play into the fundamental architecture underlying compute today. Unfortunately, none of the new cybersecurity products have taken a look at that underlying and ubiquitous architecture, or given much thought to the premise that maybe – just maybe – the architecture itself is to blame.
Instead of adding fancy new layers of security above the previous layers of security, which run on top of open, inexpensive, commodity hardware, it’s time we consider that a rethought architectural approach, which bakes security into the foundation of compute, is what’s needed to stay ahead of cyber-attackers today.
So, as business slows down for the holidays and you get some time to reflect on the changing IT landscape of 2015, you will inevitably start thinking about what the world of IT will look like in 2016. Statistics and forecasts like J.P. Morgan Chase’s cybersecurity budget could cause some anxiety, but don’t let it get to you. We are working extremely hard to make 2016 the year that a meaningful new approach to computing becomes a viable option for all IT departments.
It will start small – our earliest customers are targeting isolated areas to test out this new computing platform. We encourage you to start small as well. Much of 2016 will involve our early adopters getting comfortable with this new approach. However, we are already seeing some of our earliest adopters realize the power of this new platform, and start to plan out how more and more of their sensitive compute needs can be met with our platform.
This platform is build using a new approach which incorporates hardware that is designed to be secure, with integrated security software that is designed to work together in a simple way. It is our goal to create a product that is truly simple to implement and operate, cost-effective, and world-class in terms of security.
We hope to make IT’s futures easier, cheaper, and more secure, and we can’t wait to share this future with you.
Happy Holidays from everyone at Skyport!