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The outage led to serious financial distress.
The airline industry also experienced significant disruptions, leading to an estimated $860 million in losses.
(Image Credit: TheDigitalArtist / Pixabay)
Fortune 500 companies alone could incur direct losses of $5.4 billion.
CTO of Qrator Labs.
The latter was the one that contained the previously undiscovered bug.
Why did this mistake lead to blue screens around the world?
Solutions like Falcon are deeply embedded inIT infrastructuresand have been developed and refined over decades.
Replacing them is time-consuming and costly.
In addition, there is no guarantee that alternatives would not lead to the same troubles.
However, this incident shed light on some burning issues in the tech industry.
One of them is the lack of diversity.
This is the key takeaway we should derive from this situation.
One of them is to constantly back up theirdata.
Companies that do that regularly probably were also less impacted by this outage, in my opinion.
Some system software usually updates itself over the night or in the morning.
If something goes wrong, the firm can just roll that out.
For AWS-hosted and Microsoft Azure-hostedvirtual machines, the instructions are usually published in a matter of hours.
Therefore, probably more firms would switch to cloud-based solutions.
If 20% companies would do that, it would be a fantastic win for our industry.
But I believe, only 5-15% would actually go for that.
Future updates
In addition, future updates are also better deployed gradually.
There are some steps that regulators could take too.
Many companies create a risk model to assess potential threats and choose appropriate cyber defense solutions.
However, regulators sometimes mandate specificcybersecuritymeasures without considering if all businesses truly need them.
For example, they might require the installation of antivirus software without verifying its necessity for every company.
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The views expressed here are those of the author and are not necessarily those of TechRadarPro or Future plc.
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