Summary of How to Prepare for the Cyberattack That Is Coming to Your Company

Looking for the article?
We have the summary! Get the key insights in just 5 minutes.

How to Prepare for the Cyberattack That Is Coming to Your Company summary
Start getting smarter:
or see our plans

 

Recommendation

Companies need to get serious about cybersecurity, and the best way to do that is to simulate an attack. Leaders from the World Economic Forum, the Boston Consulting Group, Massachusetts Institute of Technology, and other groups addressed the problem of cyberattacks against businesses. It’s not easy to communicate a clear solution for a complex problem, but the authors are convincing in the need for procedures, protocols and actionable practices in the event of a cybersecurity breach.

In this summary, you will learn

  • Why cyberattacks are a real and growing problem for companies,

  • What plans executives and stakeholders can put in place to prepare for cyberattacks, and

  • Why cyberattack simulations are the best way to reinforce digital defenses and train for recovery protocols.

 

About the Authors

Alex Pentland and Stuart Madnick are professors at MIT, Shoaib Yusuf is a project leader at the Boston Consulting Group (BCG), and Michael Coden is the head of cybersecurity practice at BCG Platinion.

 

Summary

By 2021, cyberattacks may cost businesses more than 12 times the current $445 billion annual estimate. Many business leaders and stakeholders still take cyberrisks too lightly. The destruction wrought by an attack can be devastating to a company’s operations, reputation, profits and ultimate survival. However, there are measures to take in advance to help prevent an attack, or perhaps more importantly, to mitigate the damage in the aftermath of one. Leaders from the World Economic Forum, the Boston Consulting Group, Massachusetts Institute of Technology and other groups have “worked together to identify, design, and test methods to effectively engage boards and other senior stakeholders on the critical, complex issue of cybersecurity.” They have produced exercises that are essentially the cybersecurity equivalent of a fire drill.


More on this topic

By the same authors

Social Physics
Social Physics
9

Customers who read this summary also read

How to Withstand a Cyberattack
How to Withstand a Cyberattack
8
Cyber Attacks
Cyber Attacks
8
Dark Territory
Dark Territory
8
Barack Obama, Neural Nets, Self-Driving Cars, and the Future of the World
Barack Obama, Neural Nets, Self-Driving Cars, and the Future of the World
10
The Hacked World Order
The Hacked World Order
9
Safety in the Cloud
Safety in the Cloud
8

Related Channels

Comment on this summary