Mega cybersecurity coalition courts Walmart, Microsoft for next-generation defense

Dive Brief:

Think tank and cyber resilience company Team8 announced a cross-industry coalition to rethink cybersecurity approaches and ingrain it throughout enterprise architecture and growth. The coalition will bring together some of the biggest names in industry, including Walmart, Microsoft, Cisco, Moody's, Nokia, Softbank, Airbus and Scotiabank.
Partner organizations will commit $85 million to use as seed-level funding for a series of tech companies to create solutions and bring to market approaches that leverage data and promote digital transformation.
The coalition established a "Thrive by Security" approach to focus on cyber as a growth catalyst instead of defense mechanism; resilient infrastructure by design; and data science as a business growth enabler built into enterprise architecture, according to the announcement.

Dive Insight:

Cybersecurity is no longer just about firewalls and war rooms. It is a critical part of digital transformation and, in the age of the consumer realizing the power of their data, integral to business trust and continuity.

The coalition is looking to move away from the idea that cybersecurity is just a necessity, instead integrating it from design throughout the organization and using it as less of a defense mechanism and more an active part of the business.

The continuing ascent of cyberthreats and frequency of attacks are demonstrating that no organization sits in isolation in the digital and global age. Cybersecurity is an issue for the entire economy, and sharing information and working together to combat larger threats is crucial for long-term improvements.

But no security threats are made equal, and a retailer, bank and airline are going to face many distinct cybersecurity challenges that no universal solution can solve.

Such a large collaboration can, however, reframe the industrywide approach to data and analytics at the core of cybersecurity and create a foundation for businesses with different levels of digital transformation and different technology portfolios to build off of.