We discuss the aftermath of CrowdStrike's software update crash, which cost Fortune 500 companies an estimated $5.4 billion. The update caused widespread disruptions, particularly in the aviation, healthcare, and banking sectors. CrowdStrike is working on improving their testing policies and deployment strategies to prevent similar incidents in the future. The fallout from the crash has led to investigations by the Department of Transportation and calls for congressional hearings.

Another highlight of the episode is the revelation that a North Korean threat actor infiltrated a cybersecurity firm by posing as a remote worker using a stolen identity. This incident underscores the importance of robust vetting processes and continuous security monitoring in organizations. The need for enhanced security measures to detect and prevent such attacks is emphasized, as the threat landscape continues to evolve.

The episode also delves into the concept of digital twins, virtual likenesses used for research purposes, and their potential applications in various industries. The market for digital twins is expected to grow significantly, with healthcare driving its growth. Additionally, the discussion touches on the importance of strategic AI integration and scenario planning to prepare for the future of AI technology.

Lastly, the episode explores the challenges faced by the shared responsibility model in cloud computing security. As sophisticated threats and automated attacks strain the traditional model, cloud providers are urged to take on more responsibility to protect their customers. The need for industry-wide improvements in security practices and the importance of incorporating AI into strategic planning processes are highlighted throughout the episode.

Three things to know today

00:00 CrowdStrike's Crash Costs Billions: Aviation Disruptions, Congressional Hearings, and New Testing Policies

05:51 Identity Theft and AI: How a North Korean Hacker Infiltrated a Cybersecurity Firm

06:39 Strategic AI Integration: Digital Twins, Scenario Planning, and Evolving Cloud Security Models for Future Success

Supported by: https://trinitycyber.com/msp4/

All our Sponsors: https://businessof.tech/sponsors/

Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/

Looking for a link from the stories? The entire script of the show, with links to articles, are posted in each story on https://www.businessof.tech/

Support the show on Patreon: https://patreon.com/mspradio/

Want our stuff? Cool Merch? Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com

Follow us on:

LinkedIn: https://www.linkedin.com/company/28908079/

YouTube: https://youtube.com/mspradio/

Facebook: https://www.facebook.com/mspradionews/

Instagram: https://www.instagram.com/mspradio/

TikTok: https://www.tiktok.com/@businessoftech

Bluesky: https://bsky.app/profile/businessoftech.bsky.social