Cyber security and biz success: CEOForum this evening

Cyber security and business success will be the focus at the top level CEOForum today at 6:30 p.m. at the Cinnamon Lakeside, Colombo, as part of the popular third annual Cyber Security Summit jointly organised by the Daily FT and CICRA Consultancies.

A host of international experts will share key insights as to why cyber security is a CEO level issue or a top leadership concern at the interactive forum to be held at Cinnamon Lakesides Earl’s Court. 

A large number of cross industry CEOs are scheduled to attend this forum which is strictly on invitation. The forum is being held hot on the heels of a packed successful full-day policy and technical level summit yesterday inaugurated by Telecommunications and Digital Infrastructure Minister Harin Fernando.

Among experts who will figure in today’s CEO Forum are high-profile international IT security experts including those who have worked with Interpol and Fortune 500 companies. They include Microsoft Asia Chief Security Officer and Advisor Pierre Noel, Security Lead – Commercial, India and SAARC, CISCO Vivek Srivastava and Akati Consulting, Malaysia CEO Krishna Rajagopal.

International Telecommunication Union (ITU) Regional Office Asia Pacific Senior Advisor Sameer Sharma and Central Bank Governor Arjuna Mahendran will be present as well. 

According to Gartner cybersecurity spending this year is expected to hit $75 billion, up by over 4% from 2014. A study published by the Atlantic Council and the Zurich Insurance group earlier this month estimated that cyber-attacks could cost up to $90 trillion by 2030 if cybersecurity fails to advance at a rapid pace.

Given the growing incidents of cyber-attacks and impact on business, customer loyalty and brand reputation as well as legal liability, experts have emphasised that cyber security must be a boardroom issue than leaving it to the IT Department.