“From the Google perspective, the money is probably the least of this,” said Phil Venables, Google Cloud’s chief information security officer at a panel about the program. “It’s the collaboration that ensues.”
The scale of cybersecurity threats is enormous. New York City tracks 90 billion cybersecurity threats each week, according to the city’s Office of Cyber Command. Consulting firm McKinsey & Company estimates the damage from cyberattacks will hit $10.5 trillion annually by 2025, according to a Nov. 2022 report. In 2021, organizations spent around $150 million on cybersecurity, the report found.
Fixing the problem requires innovation, Venables said. “We’re focused on how to advance the state of the art in cybersecurity.”
In addition to research on security digital innovations and new tools to fight cyber threats, some funding will also go to the universities to increase the size of their cybersecurity degree programs and foster diversity in the field.
In 2021, after representatives from Google went to a White House meeting on cybersecurity and pledged to spend $10 billion over the following five years to strengthen cybersecurity. In May, Google launched a free online certificate program in cybersecurity.
Cornell Tech Dean Greg Morrisett said he hoped the research funding helped set up a stronger connection between academia and industry that would speed up the rate at which campus innovations would be available to industry.
“If we can close that loop, New York will be the best place in the world to do that sort of thing,” he said.
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