Global businesses – including Google and Microsoft – back UK to block cyber threats with new tech
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Major businesses including Google and Microsoft are backing the UK to become a world leader in tackling the most damaging cyber security threats, helping to ensure the UK remains one of the safest places to do business online, Business Secretary Greg Clark announced today.
Up to £117 million expected private industry investment will be combined with £70 million government investment through its modern Industrial Strategy to develop new technologies. These will range from a new and secure hardware prototype that can cope with cyber-attacks, to software protected from new vulnerabilities appearing online – each to ensure that every UK organisation and consumer online is as secure and resilient to cyber threats as possible.
With cyber threats constantly evolving, the best defence in the future is seen as developing innovative solutions that can work independently and protect against threats even during attacks. The government wants to ensure that every UK organisation is as cyber secure and resilient as possible.
Nearly all UK businesses are reliant on digital technology and online services, yet more than 30% have experienced a cyber-security breach or attack in the last 12 months. Hackable home wifi routers can be used by attackers in botnets to attack major services and businesses.
Consumers are often the worst affected by mass information leaks than the organisation that held their data. Businesses are having to spend increasing amounts on cyber security, up to 20 to 40% of their IT spend in some cases. And as more and more systems are connected, whether in the home or businesses, there is a need for security that is secure by design.
This expected joint investment will create projects to develop new solutions to cyber security over the next 5 years, with the aim of applying the findings in real-world markets through dedicated demo-projects led by business. For example, these demo projects could include testing the new technology in the health sector to ensure a higher level of protection for patient data, or in consumer markets to ensure consumers’ personal data is fully protected as far as possible.
