Improved cyber insurance investment seen in tech industry

Cybersecurity is a real threat, said Lenovo ISG.

The tech industry is witnessing an upsurge in cyber insurance investments in 2024, reflecting an evolving approach to cybersecurity risk management. 

"With the explosion of data and its spread across multiple data centres, cybersecurity is a paramount concern for every organisation," Kumar Mitra, Managing Director and Regional General Manager of Central Asia Pacific at Lenovo ISG, said.

Mitra explained Lenovo’s strategy, focusing on communication, regular audits, and investing in dynamic technology platforms, saying that this approach is vital to mitigate risks associated with cybersecurity, which is increasingly crucial given the amount of online investments and transactions.

Regarding the global ethical AI framework, Mitra pointed out that AI is a major disruptor in technology, sharing that Lenovo adheres to six fundamental principles: diversity and inclusion, transparency and explainability, security, privacy, and education. 

He said that these principles guide responsible AI use, ensuring that its benefits are accessible to all. "Transparency in how we collect and use data, coupled with security and privacy, forms the backbone of our ethical AI usage," Mitra said.

Lenovo also places a strong emphasis on educating users about AI's applicability and results. To reinforce this, the company has formed an AI responsible committee to deploy technology responsibly and bridge the digital divide in AI access.

Mitra also highlighted the importance of effective disaster recovery in maintaining business integrity and continuity. "Data centres are now the heart of any organisation, and unplanned downtime can have significant business impacts," he stated.

He also cited that regular readiness assessments, failover tests, and security readiness are crucial components of this strategy.

He mentioned that Lenovo’s recent collaboration with Microsoft on 'Cyber Resiliency as a Service' reflects their commitment to providing comprehensive security solutions. Additionally, Lenovo’s products are designed with built-in security features, offering an added layer of protection against potential threats.