Latest News | Companies Need Cyber Resilience to Safeguard Business: Rubrik CEO Bipul Sinha

New Delhi, Jul 19 (PTI) Data security company Rubrik on Wednesday said companies need cyber resilience, and not just prevention, to continue safeguarding their business amid rising instances of cyber attacks and breaches.

The Bengaluru-based company also announced its plans to increase hiring in India, and invest in top technical talent across data, security and AI/ML (Artificial Intelligence/Machine Learning) to derive security intelligence.

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Citing data and estimates, Rubrik co-founder and Chief Executive Officer Bipul Sinha predicted that there will be one ransomware attack every two seconds within the next 10 years.

"Nine out of 10 (cyber) attacks are going after backup infrastructure, with 3 out of four attacks being successful. Traditional cybersecurity industry has been busy building taller walls and wider modes to prevent attack from getting to the data, but is doing nothing to protect the data itself," he added.

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The company shared its Zero Labs State of Data Security report which surveys 1,600 IT and security leaders. More than half of the respondents have reported impact of ransomware attacks last year, according to the analysis.

In India, 26 per cent of respondents reported about 100 attempted cyberattacks in organisations in 2022. The report also pointed out that 51 per cent of companies suffered a loss in customer count due to cyberattacks.

Speaking at a briefing, Sinha said AI is transforming information to knowledge and bringing down barrier to entry for making cybersecurity accessible.

The company also announced a USD 10 million (Rs 82 crore) ransomware recovery warranty in India, which covers expenses related to restoring enterprise data protected by Rubrik, in an event when it cannot be recovered after a ransomware attack.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)