Cyber Markets Round-up: Week 22, May '23: Generative AI & government's shift in its priority for a 'defend forward' approach in cybersecurity
Cyber Markets Roundup | Weekly cybersecurity investment highlights
*Stock data as of the market close, cryptocurrency data as of 4:00 AM ET.
WHAT’S NEW
How Threat Intelligence Streamlines Operational Tasks For Data-Driven Cybersecurity
Threat intelligence is a loaded term in cybersecurity, often referring to the tactical data that make our tools more effective. However, threat intelligence isn’t just for tool augmentation, such as tracking emerging threats, IP addresses, or binary signatures. Threat intelligence certainly involves those things, but it can be, and do, much more.
Here's how threat intelligence could be applied to operational needs, thereby streamlining and supporting a resilient cybersecurity program:
Prioritizing security efforts.
Enhancing incident response learning culture.
Improving security awareness. [Acceleration Economy]
Introducing Charlotte AI, CrowdStrike’s Generative AI Security Analyst
Charlotte AI is a new generative AI security analyst that uses the world’s highest-fidelity security data and is continuously improved by a tight feedback loop with CrowdStrike’s industry-leading threat hunters, managed detection and response operators, and incident response experts.
Why Generative AI and not Traditional AI?
Traditional AI and machine learning focuses on analyzing and classifying existing data. Generative AI opens up a new world of possibilities by creating net-new outputs based on the patterns and structures inherent to the training data. [Crowdstrike]
Pentagon updates cyber strategy, incorporating lessons learned in Ukraine
The Defense Department has updated its overall cyber strategy, incorporating lessons learned in the Ukraine conflict to refine the “hunt forward” initiatives Cyber Command deploys around the world.
The DOD said its strategy for defending the nation would continue to include taking a “defend forward” approach focused on disrupting threat groups and the ecosystems that supported them. It said it would also work with partner agencies to ensure the cyber resilience of U.S. critical infrastructure and to counter threats to military readiness.
Implementing the revised DOD cyber strategy will be a key responsibility for the next commander of Cyber Command and director of the National Security Agency. Gen. Paul Nakasone, who currently holds the joint roles, is planning to step down later this year. [Security Magazine]
Cyber insurance is more popular than ever despite rising costs, ransomware threat
As cybercrime, ransomware attacks, and nation-state espionage campaigns have risen to a higher prominence in the C-Suite over the past decade, companies have increasingly turned to purchase cyber-specific insurance plans, which can influence what cybersecurity plans a company has in place and dictate decision-making over cyberattacks, such as whether to pay a ransom.
A survey collected responses from more than 400 senior executives at “mid-sized” organizations, a term that encompasses a large cross-section of businesses that make between $10 million and $1 billion in annual revenue.
The data shows that 68% of middle-market companies have cyber-specific insurance plans in place compared with 61% last year. Among larger companies, the increase is even more pronounced: 70% this year compared with 57% last year. The most popular activities covered were hacking, data destruction, business interruption, and failure to safeguard data. [Security Magazine]
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