British businesses and the public are set to be better protected from hostile cyber-attacks and online threats like disinformation and cyber-bullying.
The government is partnering with leading technology firm Arm in a new project to develop chip technologies that are more resistant to cyber threats – backed by £36 million in funding.
The average cost of a cyber-attack on a business – where a breach has resulted in the loss of data or assets – has increased by more than £1,000 since 2018 to £4,180.
While doing the basics, such as having strong passwords and updating software regularly are the best defence for homes and businesses, having innovative hardware and systems solutions are critical to defend advanced technology and our defence systems.
Business Secretary Andrea Leadsom said, commented, “Cyber-attacks can have a particularly nasty impact on businesses, from costing them thousands of pounds in essential revenue to reputational harm.
“Cyber-criminals operate in the shadows, with the severity, scale and complexity of breaches constantly evolving. It’s critical that we are ahead of the game and developing new technologies and methods to confront future threats, supporting our businesses and giving them peace of mind to deliver their products and services safely.
Investing in our world-leading researchers and businesses to develop better defence systems makes good business and security sense.”
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