The ongoing trends are indicative of the fact that U.S governing bodies are taking cyber security very seriously. As per the latest information, there are plans for considerable investments in ensuring adequate cyber security measures are implemented. In view of the ever-increasing cyber security concerns and ever-evolving threats, such an initiative is a timely one.
To be precise, there are plans to allocate around $15.6 billion toward cyber security.
A significant portion of this amount will be for the Department of Justice, which in figures, would be around $11.2 billion.
However, reports also confirm that the CISA, the Cyber Security and Infrastructure Security Agency, will receive around $3 billion. The CISA has been extending well-researched guidance and services on cyber security for years. With more funding, CISA will be able to focus more on innovative research and develop improved recommendations.
Industry observers are keenly watching these developments, and the common opinion is that the availability of massive amounts will surely be helpful for the present cyber security industry.
The interest shown by the governing bodies has grabbed the attention of cyber security professionals and industry experts.
The industry would agree that the availability of more funds will surely drive innovation across the cyber security sector. Extensive research on services and product development will also take place.
The March 2021 White House Directive On Cyber Security
The common perception is that the sudden focus and allocation of huge amounts of funds to the cyber security industry is connected to the March 2021-based White House Directive. The Directive emphasized the need for effective and advanced cyber defenses given the constantly evolving cyber threats.
The Directive can be considered imperative as the cyber security threats were constantly rising and evolving. Although the Directive was not exclusively for the governing bodies but considered private enterprises, it is widely believed to be the major influencing factor behind such a massive allocation of funds. The main objective of the Directive was to consider the need for advanced cyber security solutions in place that are in sync with the CISA guidelines.
“My Administration will continue to use every tool to deter, disrupt, and, if necessary, respond to cyberattacks against critical infrastructure. But the Federal Government can’t defend against this threat alone. Most of America’s critical infrastructure is owned and operated by the private sector, and critical infrastructure owners and operators must accelerate efforts to lock their digital doors. The Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) has been actively working with organizations across the critical infrastructure to rapidly share information and mitigation guidance to help protect their systems and networks”, quotes the 2021 March Cyber security directive by President Biden. These statements prove that government and private participation is necessary to ensure requisite cyber security measures are in place. Private enterprises also handle a major portion of the U.S cyber security industry.
Cyber security organizations that are authorized to sell products to the government will find 2023 a great year. They are likely to see a sudden demand for their services and products. Such companies are also expected to invest more resources to meet increased needs.
The U.S and Cyber security
The country is constantly witnessing continuous and sophisticated, dangerous cyber-attacks that continue to impact the private and public sectors. The ever-rising attacks have naturally been affecting the privacy and security of Americans as well.
The pandemic has worsened the already turbulent cyber security industry. The coronavirus pandemic was a unique one that the country never-faced before. It led to unprecedented challenges, and people were supposed to fast adapt to a remote working environment. The remote working scenario may have helped in avoiding exposure during the days of the coronavirus.
However, working in a remote environment came with unique challenges, which were excellent and new. Cyber hackers saw this as a great opportunity, and there were highly evolved ways of cyber threats. As a result, IT experts had to invent innovative methods to tackle highly advanced cyber threats.
The pressure was immense on the governing bodies to develop improved efforts to identify, safeguard, detect and respond faster to these actions.
The federal government should also analyze every cyber security breaches that happened in the recent past or earlier. The lessons learned should be examined, and precautionary measures should be implemented. However, it is also imperative to realize that the cyber security landscape has constantly been altering, and the nature of cyber threats is different from what it used to be.
An ideal strategy would be establishing partnerships between the governing bodies and private enterprises to deal with cyber threats cumulatively.
“Incremental improvements will not give us the security we need; instead, the Federal Government needs to make bold changes and significant investments in order to defend the vital institutions that underpin the American way of life. The Federal Government must bear the full scope of its authorities and resources to protect and secure its computer systems, whether they are cloud-based, on-premises, or hybrid”, says a May 12, 2021 based release by the U.S President.