"Cyber attacks are going to get much worse"

“Cyber has never been more important or been a bigger priority than it is today, it’s also never been more complex,” said Asheem Chandna, Partner at Greylock, speaking during a panel on cybersecurity which included Merav Bahat, Co-founder & CEO at Dazz, and was hosted by Dr. Nimrod Kozlovski, Co-founder at Cytactic, as last week’s Mind the Tech Conference in New York. “Most companies are not prepared to handle attackers and things are going to likely get worse in terms of the complexity of the attacks. Also, no one knows if we are in a recession but if we do go into recession cyber is less likely to be affected.”

Kozlovski opens the panel by stating “We are in the midst of cyber warfare where the attacker has changed. He is no longer the lone wolf or semi-criminal. It's either organized crime that is well funded, or nation state attackers using it as a tool to manipulate foreign affairs. In the midst of changes such as working from home and IoT, we seem to be losing to the bad guys.”

The economy has changed to digital but security hasn't shifted, what do we need to do to catch up?

Bahat: “Security needs to catch up as attacks in the cloud are super fast. Just last year there were 40,000 new vulnerabilities announced.”

Chandna added: “One of the reasons I am optimistic things will advance in cyber in the coming years is because there are new AI/ML techniques for better prediction.”

What about response and recovery?

Chandna: “We need to look at detection, prevention and response. The bulk of the budget today is on prevention but, I believe looking forward, more money will be spent on response.”

You can watch the full discussion in the video above