“Given the growing severity and frequency of cyberattacks, it’s no surprise that organizations of all sizes are spending more money to shore up their digital defenses. The market for cybersecurity products and services is expected to surpass $60 billion in 2016, and that figure could double by 2020.
Unfortunately, more security doesn’t necessarily mean better security. In fact, the current strategy of most organizations—layering on many different technologies—is not only proving ineffective, it is overly complex and expensive. ‘The status quo is not sustainable,’ says Keith Weiss, head of U.S. software coverage for Morgan Stanley. Even as companies spend more on security, losses related to cybercrime have nearly doubled in the last five years.
What’s needed, say security experts, is a new paradigm.”
Source: Cybersecurity Is About to Change in a Big Way | Morgan Stanley
