In the realm of cyberspace, trust plays a fundamental role in every interaction, transaction, and connection. However, in the digital age where we conduct our work, socialize, and engage in various activities, trust can be a challenging concept to grasp.
Since the inception of the internet nearly half a century ago, the world has witnessed remarkable technological advancements alongside growing cyber threats. The difficulty of discerning who and what to trust has led to a paradigm shift in the philosophy of trust to one of “never trust, always verify.” Despite this widely accepted notion of zero trust, implementing it effectively across technology infrastructures, partner networks, and everyday digital engagements remains a significant challenge.
A recent discussion on trust in cyberspace among global technology leaders, held as part of CyberArk’s 10-year anniversary celebration as a public company at Nasdaq, shed light on key insights and considerations for constructing a resilient digital ecosystem.
One prominent theme that emerged from the conversation was the idea that “trust is built in drops and lost in buckets.” As the Chief Information Officer at CyberArk, fostering trust internally and externally is a critical aspect of my role. Establishing trust is the cornerstone of any software provider’s responsibilities, particularly as organizations increasingly rely on third-party products and services for enhanced efficiency, security, and innovation.
However, with every technological advancement comes inherent risks, and these risks can quickly escalate when organizations engage with multiple third-party entities. Studies have shown that the average organization collaborates with 11 third parties, and a staggering 98% of organizations have partnerships with third parties that have experienced security breaches. This risk amplifies further when considering indirect relationships with fourth parties, potentially leading to widespread compromises.
The need for trust extends beyond cybersecurity and into the realm of resilience. Incidents such as the recent CrowdStrike episode, where a corrupted update file disrupted millions of devices globally, underscore the vulnerabilities in today’s interconnected digital landscape. While the internet was designed to be decentralized to prevent such catastrophic events, the presence of significant single points of failure poses risks to its resilience.
To bridge the trust gap and cultivate a resilient cyberspace, organizations must focus on establishing trusted partnerships with vendors. This involves implementing robust strategies and decision-making frameworks, including certifications, risk scoring mechanisms, clear contractual terms, and security measures such as multi-factor authentication and encryption.
As organizations increasingly leverage artificial intelligence tools from third-party vendors, the emphasis on understanding and governing these technologies becomes paramount. Questions around product resilience, security enhancements, privacy practices, and employee access protocols should be central to vetting potential partners.
Furthermore, building internal resilience by adopting an “assume breach” mindset and continuously testing contingency plans can fortify organizations against unforeseen events. Collaboration through public-private partnerships and initiatives like the Solution Hygiene Framework, which focuses on vendor validation, regulation assessments, and system updates, can enhance cyber resilience on a broader scale.
Ultimately, trust remains at the core of business resilience and growth in the digital age. By nurturing trust incrementally, evaluating it consistently, and investing in it continuously, we can unlock the potential for a brighter and more secure digital future. Trust is the foundation that underpins our digital endeavors, and by upholding it, we pave the way for limitless possibilities in the digital realm.