Call us now:
This is dangerous for so many reasons, and has all the hall marks of crypto and NFTs 2.
Firstly can anyone say what cybersecurity risk management looks like? Secondly according to Munich RE 87% of the C-level respondents reported that their company is not adequately protected against cyber attacks. That likely correlates to a significant number of the C-Suite not understanding what cybersecuirty risk management is. Or how their their organisations comply to cyber regulation if they were required to. Thirdly, the cyber insurance industry has been trying to solve the cybersecurity risk management problem for the past 5 years with limited success.
To take a quote from the Lloyds of London Quarterly update earlier this year, ‘we need to go back to the basics of risk management’ to underwrite the risk. Having been involved in AI many times over the past (thank you Rolls Royce and Warwick University), one thing you need for any AI to work is for the model to learn from the data, and for the model to be taught and initially correlate inputs to outputs. If the data says the answer to the question is 47, the AI will likely say the answer is 47, even if the answer is actually 74.
Today these correlations in the most part do not exist. Least of all because the data does not exist, least of all you need to know the data you need to demonstrate that you are managing cyber risk.
What data do you need to demonstrate you are managing cyber risk?
@Thaddeus Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation
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