Tue, Aug 12

Board of Directors Cyber Risk Management insights

https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/competitive-advantage-through-cybersecurity-a-board-level-perspective

Trust is the currency of the digital age. Do not buy or install or use a software product if you cannot determine its trustworthiness using a product "Trust Score" that works like a FICO score, but for software products. Expressing the "Trust Score" of your own products can also be used for competitive advantage.

Keep in mind the words spoken at the World Economic Forum on the need for trust in the digital age:

"A functioning society is built on trust. Whether we’re drinking water  from a faucet, riding an elevator or sending an e-mail, we’re trusting  that somebody, somewhere, has taken the necessary steps to make sure  that activity is safe. Trust is both a glue and a lubricant, holding society together and  allowing its many parts to move smoothly. If trust can’t be made  suitable for the digital age, the digital age won’t function. " World Economic Forum Davos 2021

Cybersecurity: A shared responsibility and a strategic edge

By Peter Gleason

Corporate boards and the C-suite used to think of cyber-risk management as an investment in avoiding loss—of data, money, and, importantly, trust. That view has evolved, and today cybersecurity is increasingly recognized as a driver of competitive advantage and critical-asset protection.

This shift is being accelerated by the rapid adoption of gen AI and by boards taking on more oversight responsibilities. At the center of this evolution is the chief information security officer (CISO), whose role has evolved from a technologist to a business partner—one who brings operational context to risk and positions the organization to adapt, not just react.

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