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Cybercrime Bytes: The Next Silicon Valley, Data Boom, Cybersecurity Budgets Rise

Weekly news that keeps you on the cutting edge of cybersecurity

Steve Morgan, Editor-in-Chief

Sausalito, Calif. – Dec. 19, 2019

This week’s rundown is sponsored by KnowBe4, the world’s leading platform for security awareness training and simulated phishing.

— The high cost of doing business in California’s San Francisco Bay Area is just one factor driving infosec companies — established and startups, alike — to pursue their fortunes elsewhere. DarkReading

— In 2010, the world collectively generated two zettabytes of data. By the end of 2019, the world will have generated, in the space of 12 months, an estimated 41 zettabytes of data. By 2025, that number will grow to 175 zettabytes generated in a single year. Infosecurity Magazine

— There is no sign that the stratospheric growth in cybersecurity investments is going to tail off, even if IT budgets as a whole remain under pressure.

— In the U.S. alone, the total cybersecurity workforce consists of nearly 1 million people, and there are currently around 500,000 unfilled positions. Entrepreneur

— Global spending on security awareness training for employees — one of the fastest growing categories in the cybersecurity industry — is predicted to reach $10 billion by 2027, according to Cybersecurity Ventures (up from around $1 billion in 2014.) Information Security Buzz

— It’s been a hell of a decade for your data — which has become the new currency of criminals, the new weapons of many shadowy silent wars, and the underlying currency of nearly every major technology company. MSN

— From high school programming class to chief security officer — PNC’s Debbie Guild is the perfect CSO. Cybercrime Magazine

— RESET’s Cyber Range Concierge connects Houston’s universities, businesses and students in a collaborative work environment to address real-world cyber threats and bridge the growing cybersecurity skills gap. Houston Business Journal

— A business will fall prey to ransomware every 14 seconds in 2019, with that figure jumping to every 11 seconds by 2021, according to predictions from market researcher Cybersecurity Ventures. D Magazine

— Studies reveal artificial intelligence (AI) will eliminate 73 million jobs by 2030. Every 5 out of 6 Americans use AI on a daily basis, in various forms such as navigation apps, streaming devices, smartphone personal assistants, ride-sharing apps, home personal assistants, smart home devices. ITProPortal

— Ransomware attacks continue to plague hospitals; IT professionals at healthcare providers need to step up their knowledge of ransomware defense. Cybercrime Magazine

— SANS Institute and the Department for Digital, Culture, Media and Sport, UK, recently launched the third edition of Cyber Discovery, a project to identify elite cyber-talent and help close the UK’s cybersecurity skills gap by inspiring teenagers to pursue a career in the industry. SC Magazine UK

— Alongside strongly hashed and encrypted copies of passwords, Google is improving its phishing protection with a real-time option in its new Chrome 79 browser. TechMoran

— Each year, over $1 billion is invested by Microsoft to advance its efforts on security, data protection and risk management. Nasdaq

— Cybersecurity Ventures is a media sponsor for the second year in a row at RSA Conference USA 2020 in San Francisco from Feb. 24-28. Save $900 with this limited time Special Registration. RSA Conference

More next week.

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Steve Morgan is founder and Editor-in-Chief at Cybersecurity Ventures.

Go here to read all of my blogs and articles covering cybersecurity. Go here to send me story tips, feedback and suggestions.