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How to Prepare for the Cyberattack That Is Coming to Your Company
Article

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

Alex Pentland, Stuart Madnick, Shoaib Yousu and Michael Coden
World Economic Forum, 2016
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8

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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.

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...

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.

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