January 31, 2019
Well over a third (40 percent) of UK businesses have experienced a cyber security breach or attack in the last 12 months, according to new government figures as it announces the UK is set to become a world leader in the race to eradicate some of the most damaging cyber security threats. The Business Secretary Greg Clark has promised that increased security and protections will be built into digital devices and online services with the help of up to £70 million in government investment through the Industrial Strategy Challenge Fund and backed by further investment from industry.
A further £30 million of government investment will aim to ensure smart systems are safe and secure. Smart internet connected devices can include anything from operating a central heating thermostat via a smart phone, to pressing a button to unlock the front door. There are expected to be more than 420 million such devices in use across the UK within the next three years.
This investment will support research into the design and development of hardware so that they will be more secure and resilient from the outset. This aims to ‘design out’ many forms of cyber threats by ‘designing in’ security and protection technology/solutions into hardware and chip designs, ultimately helping to eradicate a significant proportion of the current cyber risks for businesses and services in future connected smart products.