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With the European Green Deal of December 2019 supporting long-term signals to support green investments, and the proposed European Climate Law as a framework for achieving climate neutrality, low-carbon transition has recently featured prominently in European Union (EU) policy. EU SUSTAINABLE GROWTH REGULATIONS: THE CHALLENGES OF TRANSPARENCY, COMPARABILITY, AND LEADERSHIP With the European Green Deal of December 2019 supporting long-term signals to support green investments, and the proposed European Climate Law as a framework for achieving climate neutrality, low-carbon transition has recently featured prominently in European Union (EU) policy. “Greenwashing” (pretended concern about the environment) and false advertising in the marketing of supposedly “green” products tend to undermine this objective, and these phenomena have therefore come under scrutiny. In particular, the European Commission has adopted an Action Plan on Financing Sustainable Growth, which aims at reorienting capital flows towards sustainable investment, and fostering transparency and long-termism. The Action Plan has engendered three Regulations – “Disclosure”, “Benchmark”, and “Taxonomy” – between 2019 and 2021. The new legal framework represents a worthwhile beginning, but it is not yet fully mature. The Disclosure Regulation, the Communication from the Commission on Reporting Climate-Related Information, and soft law principles targeting green bonds specifically, have together updated the 2014 requirements on non-financial information. They have increased transparency at almost all levels in the financial value-chain: issuers, investment funds, pension funds, and hedge funds, financial advisors, asset managers (all recognized as “financial market participants” in the Regulation) and rating agencies. In addition, in order to facilitate investors’ access to data, the Commission has announced in its Capital Markets Union New Action Plan the establishment of a European Single Access Point for financial and non-financial information publicly disclosed by companies. The low-carbon Benchmark Regulation sets out the requirements for “EU Climate Transition Benchmarks” and “EU Paris-aligned Benchmarks”, while the Taxonomy Regulation establishes a unified EU classification system to label economic activity as environmentally sustainable. The Taxonomy Regulation makes clear which economic activities contribute most to meeting the EU’s environmental objectives, and thereby guides – or nudges – investors towards “green” investments (on the model of energy consumption labelling, and its colour-gradient). Under Article 8(1) of the Taxonomy Regulation, certain large undertakings that were previously required to publish non-financial information pursuant to the Non-Financial Reporting Directive, are now required to disclose information to the public on how and to what extent their activities are associated with environmentally sustainable economic activities. SMEs and non-EU companies can of course decide to disclose information on a voluntary basis for the purpose of getting access to sustainable financing or for other business-related reasons. By December 31st, 2021, the Commission will report on how to label “brown” activities that significantly harm environmental sustainability, as well as activities that have low impact. The EU’s green finance taxonomy is, in other words, directed at avoiding greenwashing by establishing criteria for activities and financial instruments that claim to be environmentally sustainable or to contribute to a social objective. This legal framework lays some groundwork for comparisons and sound decision-making on behalf of investors. However, more needs to be done in terms of standardising what is reported. In practice, the way environmental information reaches capital markets remains a sticking point. Labels, indices, and principles drawn up by various uncoordinated for-profit and nonprofit organizations have multiplied, creating complexity and confusion for companies and investors. Yet, as stressed by Robert Eccles, nonfinancial information that is of the same rigor and relevance as financial information, and that is also subject to the same degree of auditability, is indispensable for capital markets to operate sustainably. Standards for nonfinancial information for companies’ environmental (as well as social, and governance) performance are important: like accounting standards, they are accepted simplified constructs to represent a company’s performance. Though imperfect (and evolving), standards enable comparability (without preventing additional information to be provided) and only fulfil their role in practice if they are mandatory. The European Financial Reporting Advisory Group’s Project Task Force issued its final report to prepare for “the elaboration of possible EU non-financial reporting standards in a revised EU Non-Financial Reporting Directive”. The European Union plans to announce its standards in April 2022. However, because the economy is global, what is really needed are standards that are also global, in addition to being independent and rigorous. The EU has shown an interest in building up an international forum: with seven countries representing 55 % of the world’s greenhouse gas emissions and half of the world’s population and GDP, the EU launched the International Platform on Sustainable Finance (IPSF). Although the IPSF is not a standard-setting body, its work is aimed at preparing the ground for the international standard setters to develop globally applicable sustainable finance standards. As noted in the first IPSF annual report, the absence of coherent definitions of green investments (taxonomies) at the global level, and the low degree of standardisation of reporting, represent a limit to green and sustainable finance worldwide. Around the world, several countries have drawn up roadmaps for sustainable finance; various public and private bodies have also introduced frameworks to enhance standardisation. However, these uncoordinated initiatives tend to reflect local priorities and stages of market development and: they cause fragmentation. The need to overcome this situation is also recognized in the EU-US agenda for global change announced a few weeks after the election of Joe Biden. The transatlantic initiative contemplates jointly designing a global regulatory framework for sustainable finance, based on the experience of the EU taxonomy. This illustrates the leading role that Europe is in a position to play as other major economies start to prioritize a coordinated response to climate change. There is obviously a risk that collective action fails and that each entity insists on imposing its own standards rather than working towards global ones. In particular, there is a risk that the EU decides that because it can mandate standards, it should do so. Unless these are endorsed by market forces, such standards might trigger a mere compliance exercise, with little benefit to companies, investors and society as a whole. If, however, the EU recognizes that it could be at the forefront of an international effort to help global standards emerge, it will be able to foster joint work with other bodies, such as the Impact Management Project, which has engaged in an effort to reconcile the various sets of existing standards, the World Economic Forum International Business Council , which can harness commitment from the corporate community, and the Sustainability Standards Board established in September 2020 to sit alongside the International Accounting Standards Board and engage in a similar role establishing international reporting standards. Were the EU to take on the role of midwife, it could deliver to the world the standards for nonfinancial information that US and Asian companies will adopt. Meanwhile a race started since the SEC proposed in March 2022 rules regarding compulsory climate-related disclosures. by Geneviève Helleringer , 28.03.22 Source : Knowledge Lab Essec

Paris Business Leadership Conference Transformation and Digital Executives Register Now! In-Person Event | 2023 Attending Companies Discover More Why Attend our Event? Exclusive Content – Trend-forward sessions – with tons of practical takeaways and ideas to keep you ahead in the digital space. Brilliant Speakers – Gain in-depth guidance from expert speakers on fine-tuning your technologies used, risk management and the industry best practices Network with leading solution providers – As a delegate, you will experience cutting-edge technology from solution providers that can fulfil your business requirements. Showcase of Technology solutions - Gather practical perspectives from many real-world use cases shared by the market’s leading players, including early adopters and leaders from across the region. Key Topics After the difficult past few years, economies are slowly being restored. This is an opportunity for us to build back better, more sustainably and responsibly. Our Business Leadership conference aims to bring leaders together to discover new ideas and exchange new insights. The expectations among our business pioneers are extremely high for reuniting physically, and this is why Feyz International is bringing the new Business Leadership conference to the best hotels which will be enriched with inspiring talks, relevant content and effective networking. This conference will give you an opportunity to recognize solutions that will bring value to your business. With the new trends and cutting-edge technologies, businesses need to adopt and adapt to them to increase their efficiency. Not only you will have the chance to brainstorm on current issues but valuable advice from keynote speakers will be brought forward. Talent, Culture & The Future of Work AI, Data & Analytics Metaverse, Blockchain & Cryptocurrencies Leadership & Business Transformation Cybersecurity, Data Protection & IT Risk Management Privacy & Ethics in a Digital Society The Agenda The event's dynamic agenda will take you through a series of roundtable discussions, real-life use cases, and dedicated industry tracks, giving you a bird's eye view of the current market situation, the latest technological innovations and strategies for propelling your organization to meet the unique challenges of these unprecedented times. Our Upcoming Events

Stay informed with timely updates and training on the latest legislative changes and industry trends. Explore the newest resources and developments from Feyz International and our network of partner companies. Insights & News Stay informed with timely updates and training on the latest legislative changes and industry trends. Explore the newest resources and developments from Feyz International and our network of partner companies. What's New THE ROLE OF VENTURE CAPITAL SECURITIES IN ENTREPRENEURSHIP For entrepreneurs to flourish, they need funding: venture capital is financial capital provided to early-stage, high-potential, high-risk, growing entrepreneurial companies. Venture capital is particularly attractive for... CYBERSECURITY 2023: CLOUD SECURITY IS KEY ISSUE FOR COMPANIES What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this?... Load More Latest Publications CONSUMER FINANCE IN THE DIGITAL AGE: LEVERAGING BIG DATA AND TECHNOLOGY TO PERSONALIZE PROTECTION Have you ever wondered why consumers tend to make suboptimal financial decisions, and why financial firms are often in a position to exploit them? Clearly, this is due in part to consumers’ biases and limited rationality... BIG DATA AND THE LEAN STARTUP APPROACH AS TOOLS FOR INNOVATION IN LARGE FIRMS Can larger firms face and survive the challenge of startups? The one question that comes to mind these days is whether they are still capable of fostering innovation... SOCIAL ACCOUNTING: A TOOL FOR MEASURING CORPORATE SUSTAINABILITY Corporate social responsibility is an increasingly popular topic in the corporate world and beyond, highlighting a need for best practices and a stronger understanding of what it really means to be a sustainable business... EU SUSTAINABLE GROWTH REGULATIONS: THE CHALLENGES OF TRANSPARENCY, COMPARABILITY, AND LEADERSHIP With the European Green Deal of December 2019 supporting long-term signals to support green investments, and the proposed European Climate Law as a framework for... Load More

Our team’s dedication and skills are essential to delivering outstanding value to our customers. We prioritize recruiting talented professionals, supporting their growth, and creating a collaborative environment that drives innovation and excellent service. Careers Our team’s dedication and skills are essential to delivering outstanding value to our customers. We prioritize recruiting talented professionals, supporting their growth, and creating a collaborative environment that drives innovation and excellent service. To discover our Job Opportunities, please contact our Talent Acquisition team on : careers@feyzinternational.com Career Management Our career management is based on progression from one level to the next and on trainings provided throughout your professional career. Feyz International has established a skill reference system for associates. It will allow you to identify your opportunities for further evolution. Roles at Feyz International We are looking for both aspiring and experienced candidates with skills such as being demanding, able to work under pressure, being creative and open-minded... Marketing - Brand Management 0 Positions Available Marketing - Digital Marketing 0 Position Available Corporate Compliance - Law 0 Position Available Corporate Compliance - Tax 0 Positions Available Corporate Events - Management 0 Positions Available Corporate Events - Customer Service 0 Positions Available Corporate Events - Coordination 0 Positions Available Partners - Management 0 Position Available Find more job offers on LinkedIn Job Search Talent Development The expertise and commitment of our executive management and associates, both at our headquarters and our branches, have been cultivated over time and remain central to our success in generating long-term shareholder value. Our talent development strategy focuses on building leadership capabilities, fostering a culture of responsible management, and recognizing high performance. We see professional training as essential for personal growth. Therefore, our goal is to continuously enhance skills that align with the evolving needs of Feyz International. Developing human resources remains one of our top priorities. Come work with us! Field you're interested in I agree to the terms of use Apply Now Our Talent Acquisition Team will get back to you, if your profile matches with our offers.

It is estimated that by year 2025, individuals and businesses alike will produce about 463 exabytes of data per day globally and there will be an estimated 175 zettabytes of data in the global datasphereBusinesses use data for a variety of reasons; including but not limited to analyzing customer behavior, providing relevant ads, customer centric product trends and analyzing market value. A DAWN OF DATA REVOLUTION AND WHAT'S AT STAKE? It is estimated that by year 2025, individuals and businesses alike will produce about 463 exabytes of data per day globally and there will be an estimated 175 zettabytes of data in the global data sphere. Businesses use data for a variety of reasons; including but not limited to analyzing customer behavior, providing relevant ads, customer centric product trends and analyzing market value. Thus today data is imperative to a business. As a result most companies are increasingly focusing on their data policies, individuals and businesses are increasingly concerned about ethics surrounding data and privacy laws. But even as these laws emerge, the time taken to comply with these laws officially or unofficially is not very promising. In fact, in a report recently added to the net, it was disclosed that it takes companies about 62 days to discover a high severity data breach and another 71 days to disclose the said breach. Thus, purely relying on a business to do the right thing when it comes to data breaches and data privacy ethics is not enough. Kuber Signal is a company that wants companies to be held accountable/responsible by the individual for their data related decisions. The company quantifies privacy policies for other companies into a standard 4-point metric and a final Goodness score that's comparable across board and then shows these scores to the individual so they can decide what companies keep their data safe. The metrics are: 1. Personal Data Privacy Goodness Score 2.Behavioral Data Privacy Goodness Score 3.Technical Data Privacy Goodness Score 4. Data Sharing Goodness Score Each metric measures how much of an individual data is stored, used and shared by the Company, that individual is a customer of the company then shows what companies in the same industry, selling the same product, rank higher than the individual's company of choice. The company can also track public information around other companies and aims to provide users with the right tools and information so an individual can stay up to date with their specific security concerns, be it companies or other security threats and make better informed choices. Kuber Signal ultimately provides the user with a privacy score that can help them evaluate them online behavior and help mitigate their data related threats. Kuber Signal is founded by a Data Scientist and a cyber-security expert whose expertise lies in investigating brands for their security posture using AI algorithms. The mission of the company is to ensure an individual is aware of their security posture and a know-how into how to improve it. The company also provides individual security assessment, cyber news and information on relevant scams in the individual's playground. In conclusion, data privacy and ethics have never had more value than in recent and coming years. Today a data breach is nothing less than a home invasion of yesterday. This may sound extreme but almost every bit of useful information about a person is somewhere on the internet with some company whose 'terms and conditions' the customer didn't read and if a malicious actor gets access to that data, the consequences for the individuals can be devastating. by P. Observer, 07.12.22 Source : Factiva

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What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this?  Cybersecurity 2023: Cloud security is key issue for companies What challenges do companies currently face regarding security? What is their cybersecurity strategy for the future? And what role does digital sovereignty play in this? The results show that cloud security is the most important strategic security topic for 34% of companies in 2022 and 2023. Ranked second to fifth are secure backups/disaster recovery (20%), data security (19%), security awareness training (15%) and identity & access management (14%). Along with the strategic issues, there are also the top cybersecurity challenges faced by companies. Nearly two-thirds of respondents say their security landscapes have become more complex over the past twelve months. In addition, 69% expect complexity to increase further over the next twelve months. The top five security challenges for companies in Germany, Austria and Switzerland are security complexity (24%), data protection/privacy (21%), ransomware attacks (19%), cybersecurity skills shortage (18%) and security of networked environments (16%). Fifty-seven percent of respondents agree that they already have an urgent shortage of cybersecurity personnel or will have one in the coming year. Digital sovereignty is becoming more important The economic and political situation has made the issue of digital sovereignty more important for three out of four companies. For 26%, it is "much more important" with strategic implications, and for another 49%, it is at least "more important" with implications for day-to-day business. This also means that many companies see numerous benefits in digital sovereignty. For example, it helps respondents to shape their own transformation in a self-determined way, to strengthen the trust of customers and other stakeholders, and to promote collaboration with partners in increasingly digital ecosystems (60% each). The top 5 most common digital sovereignty challenges for companies are protecting and gaining visibility of data in clouds (31%), the cost of evaluating and adopting new technology (29%), expertise in dealing with cloud contracts and skilled employees to understand and implement individual digital sovereignty requirements (27%), the availability and cost of local compliance officers (25%), and dealing with competing requirements between regional and national jurisdictions (24%). Ransomware attacks are on the rise According to this study, 72% of companies in the German-speaking markets have been affected by ransomware. 40% have even seen an increase in cyberattacks over the past twelve months. Looking ahead, half of the respondents (50%) expect the number of attacks to increase even further. If a ransomware attack occurred, only 50% of companies were able to successfully defend against it. "To remain competitive and successfully develop their own business model, companies must respond to technological innovations and act with digital sovereignty," analyzes Frank Sauber, Global Head of Sales & Business Enablement, secunet Security Networks AG. "Besides self-determination and independence, this also means freedom of choice, for example in terms of providers, data protection or transparency. This gives companies more influence over what happens to their data and ultimately enables them to better protect themselves against cybercrime, sabotage or espionage. Companies are already complaining about the lack of skilled personnel and the complexity of the security landscape - this can only be mastered with independent partners and secure services. by Secunet, 12.07.2022 Source: Factiva

Every day brings with it the news of yet another company falling victim to a cyberattack. The costs the affected businesses face are enormous: lost critical data, stolen assets and damaged reputations.  Why cyber risk assessments should be a part of your business strategy Every day brings with it the news of yet another company falling victim to a cyberattack. The costs the affected businesses face are enormous: lost critical data, stolen assets and damaged reputations. But despite these very real threats, company leaders may resist committing the necessary resources to prevent them. After all, no one wants to pay for more than they need. This goes for cybersecurity as much as any other business expense. That’s why it’s vital for C-suites to include cybersecurity as part of their capital planning. And the key to that is determining what “just enough security” is for the organization to meet its business goals. What’s the best way to determine how much security is “just enough”? Most C-level executives are accustomed to making overall business decisions based on risk. An effective risk management program identifies true risks to the business and determines how to reduce those risks to an acceptable level. Including an acceptable level of cyber risks into the organizational risk management program makes cybersecurity a part of the overall business strategy. And the best way to do this is to undergo a cybersecurity-related risk assessment. This helps translate the costs of what it could take to prevent unacceptable levels of cybersecurity risks or to reduce them to an acceptable level. These costs can then be included in budgetary calculations and overall risk management plans. According to the SANS Institute , “the ability to perform risk management is crucial for organizations hoping to defend their systems. There are simply too many threats, too many potential vulnerabilities that could exist, and simply not enough resources to create an impregnable security infrastructure. Therefore every organization, whether they do so in an organized manner or not, will make priority decisions on how best to defend their valuable data assets. Risk management should be the foundational tool used to facilitate thoughtful and purposeful defense strategies.” Many frameworks and industry standards, such as those offered by the National Institute of Standards and Technology (NIST) and ISO, provide guidelines for conducting risk assessments and implementing controls (best practices) to mitigate or prevent security risks. In general, risk assessments help organizations determine their inherent security risks by doing the following: Identifying, estimating, and prioritizing risk to their operations. Determining the possible threats from bad actors that can compromise the confidentiality, integrity, or availability of the information they are processing, storing, or transmitting. Identifying what measures or controls are in place to protect the critical assets and what measures/controls are lacking. Following recommending preventive measures and investing in security upgrades to reduce high levels of risk. What does this mean? It depends on the type of business. Because as these examples show, not all risks are created equal. A bank storing and processing large amounts of financial data or a hospital maintaining extensive patient records would be very concerned with the confidentiality of their data and the damage to their customers and patients if hackers accessed or leaked it. A risk assessment could tell them that they need to prioritize their resources toward protecting the confidentiality of their data with privacy-related controls and other security measures. The risk assessment might also indicate that they are vulnerable to a ransomware attack, so they should implement a recovery plan and perform daily and weekly system backups. But the risk assessment may indicate there is less risk to the availability or integrity of their data, so they would not need to invest as much in these areas. Researchers developing intellectual property may be concerned both about outside actors wanting to steal their discoveries or insiders willing to sell them to competitors. The risk assessment might indicate that they are indeed vulnerable to such attacks. So they might prioritize increasing resources on instituting protective, access and monitoring best practices . They might also invest in awareness training to educate staff on recognizing phishing emails and other social media campaigns as well as internal threats. The risk assessment could suggest they have fewer risks to the confidentiality of this data, so they would not concentrate resources on protecting this area. Once company leaders have identified the critical assets they most want to protect, have an idea of what cyber threat might attack these assets and how vulnerable their assets are to an attack, and understand how severe such an attack would be to their ability to function, they can make informed decisions on how to target their resources toward addressing the risks with the most significant impact to their business. A risk assessment turns intangible concepts such as security, risk, and prevention into tangible realities with actual costs attached. Undetected/unprevented cyberattack equals financial ruin. And that’s an inevitability that every C-suite must face in today’s interconnected world. by Baan Alsinawi , 05.11.21 Source: www.securitymagazine.com

Have you ever wondered why consumers tend to make suboptimal financial decisions, and why financial firms are often in a position to exploit them? CONSUMER FINANCE IN THE DIGITAL AGE: LEVERAGING BIG DATA AND TECHNOLOGY TO PERSONALIZE PROTECTION Have you ever wondered why consumers tend to make suboptimal financial decisions, and why financial firms are often in a position to exploit them? Clearly, this is due in part to consumers’ biases and limited rationality. As consequence, even well-meaning policy interventions have often regulated for rational consumers and made them worse rather than better off. However, recent developments in behavioral science and economics seem to have made their way to traditional regulatory interventions. And while the combination of behavioral insights and big data analysis is raising issues relating to privacy and equality before the law, it is also opening up the possibility of tailoring the regulation of financial market behavior to more empirically valid characteristics. Consuming Financial Products Retail clients, you, me, we all engage with the financial system in various ways. We open accounts, we get personal loans, we may even be tempted to invest in bonds or shares. Some of the opportunities in the financial market are believed to dramatically improve our well-being. Pension-related products are one striking example: they help up save effortlessly for times when we will not have an income anymore. However, financial markets are complex and also expose consumers to greater risks than other marketplaces. Some risks are product specific and derive from the speculative nature of the instrument. Other risks are more general and related to consumers’ pattern of behavior. Even products such as insurance products that are not indexed to the ups and downs of the financial market do expose financial consumers to ill-suited or expensive choices. Decision-making and the Human Brain It is now widely recognized that individual cognitive processing has limited capacity. The human brain deploys mechanisms to economize on cognitive processing in decision-making: this saves time but results in systematic errors in decision-making, which might not happen if the person was given unlimited time and the analytic resources to make these choices. Therefore, consumers make predictably costly mistakes in financial markets: they buy high and sell low, invest in attractively presented instruments they do not understand, and pay excessive fees. The Myth of Rules of Thumb and the Rational Consumer If we want to protect and empower the financial citizens that we are, close attention should be paid to consumers’ behaviors, to their imperfect analyses and distorted judgments. Let us not forget that many existing rules are written with a fictional (rational) consumer in mind: someone who reads labels and disclosures, takes the time to scrutinize contracts, and checks the terms and conditions. In reality, we are nothing like the fictional consumer. Instead, we use shortcuts to make decisions, relying on intuition rather than deliberation. Thus, many potential errors, anomalies or biases in consumer decision-making may be explained by the use of rules of thumb leading to incorrect beliefs. We are unlikely to make an active choice when one option is a default (‘inertia’). An example of this is automatically renewable contracts, such as are often found in banking services. It has also been established that we can only deal effectively with a limited amount of information (‘information overload’). For this reason, it is not sensible to throw into the terms and conditions of loan agreements more information than consumers can process. Another example is present bias. This causes us to discount costs that seem distant in the future (‘hyperbolic discounting’). For example, a credit card with a low introductory teaser interest rate and high long-term interest rate is regarded as attractive, irrespective of the total cost. A last example, ‘optimism bias’ can lead us to misjudge the amount of use we make of a service: thus we might believe that we will never be in a situation where we need an expensive overdraft. Errors of this kind can result in choosing a contract that does not suit our needs. Leveraging Big Data and Technology to Personalize Protection Businesses have long been aware of this set of behaviors and regulations have started to take into account and incorporate insight from behavioral studies. What would be useful is to bridge the gap with Big Data, which is just another key to understanding consumer behavior. The power of Big Data and associated predictive analytics could be used to improve the efficiency of consumer law. While heterogeneity among consumers often means that regulations are over- and under-inclusive, the rise of Big Data has significantly decreased the costs associated with creating and administering personalized legal rules tailored to specific individual profiles or circumstances. This is just one example out of many more. In short, the combination of behavioral economics and Big Data analysis opens up the possibility of tailoring the regulation of market behavior to more empirically valid characteristics, and to personalize it. This exciting prospect also opens up major questions, relating in particular to how privacy can be ensured and how justice can be achieved. Nevertheless, private law can potentially embrace and harness these insights, and use them to solve problems such as unfair terms or debt payment issues. by Geneviève Helleringer , 21.09.21 Source : Knowledge Lab Essec

During a media event at Netskope’s SASE Week, Steve Riley, the discussion moderator and field chief technology officer for Netskope, asked, “What’s the driving force for SASE? Why now? What’s changed?” How secure access services edge security will transform networks During a media event at Netskope’s SASE Week , Steve Riley, the discussion moderator and field chief technology officer for Netskope , asked, “What’s the driving force for SASE? Why now? What’s changed?” The short take is that we are in the midst of a digital transformation, with a stronger reliance on mobile and cloud computing than ever before, according to various attendees, and we need to implement secure access services edge (SASE) now to properly address data security and networking issues that are quickly approaching. Jason Clark, chief strategy officer at Netskope, said that business has been moving to a cloud-based framework and that cloud adoption has been accelerated by the pandemic. “Data is now sitting on a CPU that you don’t own or control because it’s on the cloud, and it’s being transmitted on a network — or the internet — that you don’t own, and the users are off the network. The security teams are being stretched by this,” he said. Clark stresses that moving to SASE means “a repositioning of security to consolidate to one new security inspection point. It’s a smart reset.” When Ed Amoroso, founder, and CEO of cybersecurity consultancy TAG Cyber , was asked why he was advocating for a move to SASE, he used an easy-to-visualize model. “Hub and spoke networks consolidated and brought everything to the datacenter. Now data is scattered among apps, cloud, and different work clouds so the hub and spoke doesn’t make any sense anymore,” he said. “By conceptualizing what you need in your mind, you start putting together SASE. We’re at a time when people need different networks that can be controlled from the cloud. Anyone listening can self-generate that SASE is required just by thinking about how we use networks today.” Meeting network engineers’ needs After, Riley poised two thought-provoking questions — “If everything is on the cloud, is there a network to manage?” and “If there is no datacenter, are there now many centers of data?” — George Gerchow, chief security officer at Sumo Logic , led a discussion on the importance of focusing on data security and encryption. Gerchow stressed repeatedly the need for collaboration with control, saying, “You have to have availability, but that availability has to have seamless security. Availability matters because people have to use their services, but if you don’t have security to go with it, good luck, because it can be over in an instant.” Clark suggested that there are two avenues in building a SASE framework: “If it’s security-led, then it’s about the data. Sometimes it’s network-led, and for networking, [then] it’s about access.” Supporting the idea of a network-led framework, Amoroso said, “Many things that have nothing to do with security are an important part of the architecture.” He pointed out that he has a stack of laptops that he still uses for each company with whom he consults because that’s the only way to access his corporate clients’ perimeter. The reality is that network engineers are probably busier than they’ve ever been, and SASE can bring about needed improvements to network access. Zero trust is adaptive trust Introducing the topic of zero trust elicited some laughter from panelists. They all proceeded to comment on the buzzword aspect of the phrase, despite much misunderstanding about what it really is. Clark summarized by saying, “It’s a framework that needs to be embedded in how we operate. It’s not binary. Trust is not on or off. Zero trust has a zero to five scale in my mind.” Riley added, “Zero is the starting point, but ultimately you’ll have to extend some level of trust in order for some level of interactivity to occur.” He followed that up by suggesting that the term “adaptive trust” would be more accurate, which was met with panel agreement. Clark described a zero-trust relationship as allowing its users to “give the least amount of access as possible, as much as possible, so that bad things can’t happen.” Gerchow added that zero trust is a fabric of many things, and that it entails working closely with vendors and partners to stop anything that isn’t supposed to happen. The great SASE migration Overall, the panel seemed to largely focus on a key question, “How do we convince the C-Suite?” Panelists agreed that SASE is the future of data security and secure access, but disagreed on how long it will take for a cloud adoption tipping point moment. Clark brought up the importance of the shared responsibility model, where you can control what user has access to, as well as what data is included. He said that a company should have its own standard for considering third-party risk before granting any outside agency access to its cloud-based framework. It was Amoroso who summarized the task of transitioning to SASE best. “It’s like if you have a new house, and you move your messy garage one piece at a time into the new garage, but you want to keep it organized as you go,” he explained. “The data that needs to move to the cloud is scattered. There are companies dealing with lost data. I think it’ll all eventually get to the cloud, but moving it is complicated.” by Corinna Makris , 06.11.21 Source: www.venturebeat.com

Can larger firms face and survive the challenge of startups? The one question that comes to mind these days is whether they are still capable of fostering innovation. Many large companies try to adapt to this new challenging environment by behaving like startups, which, as the researchers point out, is not the key to successful innovation for incumbent firms. BIG DATA AND THE LEAN STARTUP APPROACH AS TOOLS FOR INNOVATION IN LARGE FIRMS Can larger firms face and survive the challenge of startups? The one question that comes to mind these days is whether they are still capable of fostering innovation. Many large companies try to adapt to this new challenging environment by behaving like startups, which, as the researchers point out, is not the key to successful innovation for incumbent firms. Adapt or… Die Trying Previous research shows that incumbent firms find it difficult to adapt their business models (and thus their strategy) for various reasons including the complexity of the organization, a focus on short-term rather than long-term gains, and competition for resources among managers. Large companies often suffer from innovation blindness caused by the very fact that they hold onto outdated models and assumptions on how the world works. This difficulty in changing the business model makes it extremely challenging for firms to respond to the new forms of competition brought forth by startups. While changing the business model is often necessary, if not vital, there are no clear best practices and many firms have followed the route of trying to behave like a startup. This approach, however, is doomed to fail as it does not recognize the fundamental differences between the two types of organizations in areas such as resources, speed of decision-making, focus etc. Adapt. Do not adopt! There has been research encouraging large companies to adopt the lean startup methodology[1] for product innovation, suggesting that in this way, legacy companies would be able to quickly adjust and adapt the business model to create and appropriate the most value. But while a startup is by definition “an organization formed to search for a repeatable and scalable business model”, a legacy firm already has a business model. Therefore, to be economically competitive, incumbent firms need to be ambidextrous. In other words, they should be able to execute in present markets while innovating for new ones. According to Steven Seggie and his peers, incumbent firms should leverage advantages such as big data and adapt (not adopt) the lean startup methodology. Let us not forget that big firms have clear advantages in big data both through the amount that is available to them and also through the resources they have to analyze the data and act upon the results of the analysis. It is not the Size of Your Data that Matters but What You Do with it The real question then is: “How should firms leverage big data and adapt the lean startup methodology as a means of changing the business model to allow for successful innovation and successful competition with startups?” Traditionally, big data analysts have talked about the 3Vs of big data: volume, variety, and velocity.Each of these characteristics creates a learning challenge, which can then be addressed through use of parts of the lean startup methodology. Volume Volume refers to the increasing amount of data that is available. This volume leads to confirmation bias as a greater amount of data provides opportunities to confirm prior beliefs that inform decision-making. The solution provided by the lean startup methodology is to use the analysis of big data not to reach conclusions but instead to develop hypotheses, which can subsequently be tested through experimentation. Variety Variety means that firms have access to data from very different sources that were not available in the past. Although variety is seen as a good thing, it leads to an increased complexity of both the data and analysis, thus making it difficult to communicate insights for decision-making. The lean startup methodology suggests the introduction of a concept called innovation accounting[2]. It requires regular reporting on the progress of an innovation project with a decision to quit, persevere with, or pivot. The advantage is that it facilitates the access to insights throughout the process. Velocity Velocity refers to the fact that firms are getting real-time data. The richness and timeliness of the data suggest an increased ability to predict the future, and thus creates an illusion of control. The solution offered by the lean startup methodology is to include a build-measure-learn loop into the innovation process as this allows firms to engage in validated learning on an incremental basis. The risk is minimized, as all innovations are incremental in nature. So even if managers have the illusion of control, they will not be able to take large risks that may come back to haunt them in case of unexpected occurrences. Let Us Call a Spade a Spade With unprecedented amounts of Venture Capital money being invested in startups, incumbent firms are under greater pressure than ever before to maintain their status as leaders in their fields. Some of them have adopted, recklessly, the lean startup methodology with generally disastrous results. In sum, a startup is not a small version of a legacy company, neither is a legacy company just a large version of a startup. Therefore, incumbent firms should adapt the lean startup methodology instead of adopting it as it is. Firms should leverage the resource advantages they have regarding big data and combine these advantages with the adapted lean startup methodology to enable large companies to adjust their business models to allow for successful innovation. −−− [1] The lean startup methodology is a quick and iterative process that requires minimal resources compared to more traditional models of innovation (Blank, S. (2013). Why the lean startup changes everything. Harvard Business Review May, 4–9.) [2] A measurement process used to evaluate innovation throughout the innovation process by Steven Seggie , 04.10.21 Source : Knowledge Lab Essec

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