HP Innovation Journal Special Edition: Security | Page 5

B O R I S BA L AC H E FF C hief Te ch n olo gist fo r S e curit y Rese a rch & I n n ovatio n , H P SIMON SHIU H e a d of S e curit y L a b, H P L a bs CY BER RE SIL IENCE at the EN T ERPRISE EDGE One of the greatest challenges to protecting a busi- ness against cybercrime is the shape-shifting nature of security threats. Innovation is not the sole domain of the good guys: cyber criminals are constantly find- ing ingenious new ways to tunnel into consumer, enterprise and institutional IT systems. They are increasingly professional, more aggressively funded, and better-equipped than ever to exploit any weak link in the security chain. With everything connected and interconnected, secu- rity is more important than ever. The rampant rise in cybercrimes—over 1700 significant data breaches 1 in 2016 alone—is driving cybercrime costs in the global economy, with estimates reaching up to $600 billion for 2018 2 . The damage to businesses from theft of intellectual property alone exceeded $160 billion 3 in losses. Cybersecurity is now a truly disruptive force. If you have the security you need, your business runs without incident and stays out of the news. But if not—the damage to your operations and reputation can be devastating. 4