Cyber security concerns create business opportunity

Robert Madelin, an adviser for The European Commission, has said that there are profits to be made from the need for IT security, going so far as to call it a private sector “billion-euro opportunity”.

Madelin, the Commission’s director general from 2004 to 2010, gave his views in a discussion on cyber threats and what the EU can do about it. The discussion took place with Microsoft International president Jean-Philippe Courtois in a keynote at the annual Microsoft’s Convergence conference in Barcelona.

He said:

“What most people want from authorities is to keep them safe. In the cyber age we look to policemen to protect us. But citizens need to remember to shut their windows with the right antivirus software.

“We are also trying to work with companies to deal with cyber attacks, but we also see this as a big business opportunity.”

Madelin said that he hoped for the EU’s role (along with that of the European Commission) in an environment littered with cyber threats to be to prevent decision makers from investing various rules that hinder one another. He hopes for a future that features fewer obstacles, with appropriate privacy and security legislation.

What the future may hold for cyber security remains to be seen, but that should not have an effect upon businesses employing sufficient security protocols. Making security jobs available to trained personnel is an essential aspect of those protocols. At a time when headlines often feature a major data breach, it is integral that businesses use all of the resources at their disposal to avoid becoming the next target.