Microsoft is betting on its Security Experts product to beef up a cybersecurity industry finding itself with a personnel shortage amid a rise in cyberattack incidents. Vasu Jakkal, CVP for security, compliance, identity and management at Microsoft, joined Cheddar News to explain how the tech giant is taking action. “We are launching this new category of services because we know that while technology is super, super, critical and we have an end-to-end portfolio for that, we need humans. We need the experts who designed this along with that technology," she said.


Closing Bell

How Microsoft Security Experts Product Looks to Tackle Cybercrime

Welcome back to closing bell here on cheddar news. So cyber attacks have been grabbing plenty of headlines lately and that's because experts say ransomware and other cyber threats are on the rise and all this comes as the cybersecurity industry for faces a talent shortage. But don't worry not all is lost because one tech giant is trying to provide a solution today. Microsoft launched a new service called Microsoft security experts and joining me now to discuss this is vast surgical chief Vice president of security compliance identity and privacy at Microsoft. So my first question is what is Microsoft security experts and what does it do? What can It's great to be here. Thank you for having us. And you know we're really thrilled to launch this exciting new service Microsoft security experts and to understand that there are two big driving forces behind it. The first one is this ever evolving threat landscape which is complex, it's sophisticated and the attacks are getting more frequent. We are now seeing 921 attacks per second which is up from 579 box with attacks per second. Just earlier and Viet Microsoft are tracking 35 ransomware groups in 250 unique threat actors across ransomware and nation state. The second driving force you talked about it is Stalin shortage. One out of every three jobs in the US in cybersecurity is unfulfilled and it's creating 2.5 million vacancies in cybersecurity. So as a result of that we are launching this new category of services because we know that while technology is super super critical and we have an end to end portfolio for that we need humans, we need the experts who designed this along with that technology. So this services offerings brings together technology and human in five different things. So as you mentioned, you're tracking 35 ransomware groups. What have you found? What are they doing? And where are they located? Yeah, there's a whole gig economy of ransomware that's happening right now. Human operated ransomware that's not just bust, but real humans who are monitoring this and are launching attacks is becoming more frequent. They're saying also that the barrier to enter in ransom there is now lowered and there's a whole light kill chain where there are different elements of it that threat actors are offering. So you also mentioned in the article on the report that I got that the cyber attacks are getting more complicated, they're getting more I guess difficult to understand and to block. So what is your team doing to combat that? Absolutely. So there are two pieces of it first. We need to provide end to end security because can attacks come from anywhere and if you don't have robust security protection, then it's like closing a door. But leaving a window open. So that's why Microsoft offers services across security compliance that's inside out protection, identity management and now privacy and with this new services offering, what we're doing is we're bringing humans and attaching those two that technology. So amongst the services that we're offering, what we're doing is we have three managed services services offerings. Microsoft defender for defender experts for hunting. So along with our customers security teams, we have Microsoft experts really proactively hunting for those threats. The second offering is Microsoft defenders for XDR or extending extended detection and response. Not only did we help you hunt, but we help you really detect comprehensively and respond to these attacks. And then the third one is Microsoft security services for enterprise. If you want a comprehensive expert lead service including hunting and XDR, we offer that to you so that you have a simplified and modernized managed service experience. So those are the three managed services and then that's not all. We're also launching an enhancement of two services incident response as well as security experts for modernization to continue to help customers on their journey for more robust security postures. Let me ask you something when you said that for every, I think it was one in three jobs it's vacant. Why is it vacant if there's so many jobs and most of these jobs are high paying, why is it vacant? And what kind of vulnerability does this create for companies that are trying to protect themselves? Yeah, you know, it breaks my heart. Um, and hopefully one day we'll get on the other side of that equation. So there are a couple of reasons for that one is the threat landscape is evolving really fast. So just to keep up with that requires immense about immense amount of training and it also requires a sheer like larger cybersecurity forced to address that and then secondly, you know as the cost of breaches is increasing is taking longer and longer for us to detect those breaches. We need different skills and we need more people in our security team. So both of those are contributing to. The lack is just the number of attacks are increasing. The number of technologies that we need to defend against. Those attacks are increasing and the number of humans we need to operate those technologies is increasing well I hope this helps and I hope we can be more secure because I know that everyone prefers security in this world Basu to call CVP of security compliance, identity and privacy at Microsoft. Thank you as always for joining us. Okay, coming up, amazon is making some changes at its Staten island warehouse that voted to unionize in March, find out what the details of this controversial decision is coming up. Mm hmm. Okay. Mhm. Mhm. Yes. Huh. Welcome back to closing bell. I'm cheddar news everyone kristen show here with my partner ken buffa and I can let's get our viewers caught up on some stories that we're following today. Alright. The box office receiving a nice boost creek kristen to kick off its summer season. Thanks to El Doctor Strange in the multiverse of madness and the latest entry in the M. C. You brought in $185 million 11th biggest opening in history and the biggest opening of 2022. The Doctor Strange sequel surpassed Warner Brothers the Batman with the biggest opening of the year and is marvel's second biggest opening after the pandemic since Spider Man No Way home, which is blew it out of the water. Let's be let's be serious. So the film garnered mostly positive reviews, getting a 75% rotten tomatoes score, which is interesting to hear. I thought it would be higher Kristen when was the last time you were at the box office, ken? I think fans were still around. So it's been a while, it was pre pandemic for me. Look, we're not alone, I think that's the takeaway here. Alright, well an update to at amazon's JFK eight warehouse on Staten island, the big tech giant reportedly looking to make management changes. Following the warehouses vote for unionization. Well, the JFK eight warehouse was the first amazon location to successfully unionize and the new york times reporting the company has terminated more than half a dozen managers at the warehouse who were in charge of responding to calls for unionization at that location, amazon telling its employees the changes purely organizational but some workers claiming the decision is punishment for failing to stop unionization efforts. All right. Meanwhile IkeA plane to transform its store locations to bolster its e commerce business, The furniture giant spending $3.2 billion to redesign its stores to also work as e commerce distribution centers. The renovations come as retail sectors across the board have seen a dramatic uptick in online shopping and orders like a expects renovations will ultimately make for more cost effective and efficient deliveries and will even be more environmentally friendly as they will create lower carbon emissions. Have you ever been to an IKEa Kristen? It's like a trip. It is a trip, There's actually a free ferry here from the Wall Street here to the IKEA in Brooklyn. It's a pretty good, excuse me, A pretty good deal. The hiccups have returned. Can I apologize, must have been a rough day on Wall Street at least. But anyway, I think that this is a really wise move and I actually think of course as the, excuse me, the economy takes it on the chin, right with the stock market underperforming IKEA could be a space where there's a little bit more attention versus some of these more luxury furniture makers. Yeah, I think so too. And also I think this is gonna be a trend that we see with other stores because if they can streamline their e commerce to get deliveries faster because everyone's always competing with amazon, it's gonna be a good deal for us all. Alright, so, coming up, we'll preview what to watch for tomorrow on Wall Street and.