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At White House Summit, U.S. Tech Giants Promise To Spend Billions More To Bolster Cybersecurity

By Forbes

August 26, 2021

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During a summit with Biden administration officials yesterday, the chief executives of America's biggest tech companies pledged to step up their efforts to improve cybersecurity, promising to spend heavily on new methods for securing tech systems and to step up their efforts to address a severe talent shortage in the industry.

The meeting, which took place against a backdrop of rapidly rising ransomware attacks and other high-profile cyber threats, brought together a range of companies, including insurers, banks and energy businesses. But in its review of the event, the administration was particularly keen to highlight the public commitments made by the tech giants.

Some of these had multi-billion-dollar price tags attached to them. Google promised to invest $10 billion over the next five years on bolstering the security of software supply chains and open-source software, while Microsoft announced a $20 billion investment over the same time period (which represents a quadrupling of its prior planned spend) to accelerate its efforts to ensure cybersecurity is a fundamental consideration in all software design and to come up with even more advanced tech to combat hackers.

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