It’s time for local firms to adopt new cybersecurity mindset: exec

By Rizal Raoul Reyes

Philippine business organizations need to change their approach on cybersecurity, according to a top executive of a major technology company.

VMware Philippines country manager Victor Silvino

VMware Philippines country manager Victor Silvino

“Financial institutions in the Philippines are typically the first-movers in using technology for business, but across the board, there is a critical need for a fundamental transformation in the way companies,” Victor Silvino, country manager of VMware Philippines said in an email interview with Newsbytes.PH.

Silvino, a former top official of IBM Philippines, was appointed to his new role just recently, replacing fellow tech veteran Manny Portugal.

Businesses are spending more and more on security but the cost of data breaches exceeds this amount and by 2019, Juniper Research predicts the cost will rise to $2 trillion dollars.

It is becoming tougher for security teams to keep up with the myriad of attacks that can be mounted against a company, and financial institutions are particularly vulnerable as they hold copious amount of valuable data on customers.

Silvino said financial institutions in Philippines need to integrate into their security model the basic principle of “ensuring good” instead of “chasing bad”.

In expounding his point, Silvino said companies should instead be proactive by minimizing and narrowing the attack surface in a significant way, and focus efforts on setting protections around the most mission-critical applications and data.

As far as artificial intelligence (AI) is concerned, Silvino said VMware has been leveraging AI internally and has been blending it with its solutions for years to develop better products, improve services, and boost customer support.

“We expect AI to play a bigger role in the year ahead. One immediate opportunity for us is to help customers derive better insights from large data sets using AI. We are working closely with our Dell family to look at AI-powered products and solutions to help the whole ecosystem run faster,” he said.

According to Silvino, VMware also AI can be harnessed to reduce complexity at the cloud layer. He said a lot AI data runs on mega clouds, and the VMware sees there will be a need for an intelligent infrastructure to create a homogenous and secure solution across the clouds all these data reside in.

“This is crucial when there isn’t one mega cloud available yet that can address all business AI needs, and we are tapping on this gap to help our customers use AI and their data more effectively,” Silvino said.

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