CYBER SECURITY MARKET ANALYSIS

Key Developments

• In November 2023, Microsoft launched the Secure Future Initiative (SFI), a company-wide effort to drive the next evolution of cybersecurity protection. This initiative brings together teams across Microsoft to enhance cybersecurity safeguards, focusing on three key pillars: AI-powered cyber defenses, improvements in core software engineering practices, and advocacy for stricter enforcement of international standards to shield civilians from malicious cyber activities.
• In October 2023, IBM unveiled the next evolution of its managed detection and response service offerings, introducing the new Threat Detection and Response (TDR) Services. These services leverage advanced AI technologies to provide 24x7 monitoring, investigation, and automated remediation of security alerts across clients' hybrid cloud environments.
• In September 2023, Snowflake, the data cloud company, and Lacework, the data-driven cloud security firm, announced an expanded partnership to further automate cloud security at scale and advance the future of cloud infrastructure. The extended partnership empowers security teams with direct access to their Lacework cloud security data through Snowflake's secure data sharing, enabling unified visibility and custom automation.
• In September 2023, more than 20 e-commerce companies adopted the Open Commerce solution jointly developed by Google Cloud and the Open Network for Digital Commerce (ONDC). This open-source solution simplifies the onboarding process for buyers, sellers, and logistics providers to the ONDC network.
• In September 2023, NortonLifeLock Inc. introduced Norton Small Business, a comprehensive cybersecurity offering tailored to help entrepreneurs and small business owners protect their financial futures. This all-in-one solution delivers triple-layer protection, making it easier for small businesses to safeguard their team's online activities, devices, and customer data through a simple, integrated cybersecurity platform.