How the U.S. Government is Spending Billions on Cybersecurity?
In recent months, the House of Representatives has been hard at work drafting colorful spending bills for the 2023 financial time. While these bills give backing for a vast array of government programs and agencies, there was one thing that stands out. inclusively, the bills that are making their way through the house allocate a stunning $15.6 billion to cybersecurity spending.
As you could presumably guess, the captain’s share of this spending ($11.2 billion) is being allocated to the Department of Defense. It’s worth noting, still, that nearly $3 billion is going to the Cyber Security and Infrastructure Security Agency (CISA).
Although it may be tempting to suppose these cybersecurity budget allocations as just another illustration of inordinate government spending, it’s worth considering what a $15.6 billion cash infusion will mean for the IT security assiduity. It’s inversely important to consider why the US government finds it necessary to ramp up its cybersecurity spending to such a degree.
Increased Government Cybersecurity Spending for the Future! What does this mean?
So, what does all this cybersecurity spending mean for the future? For starters, it means that 2023 is going to be a good time for cybersecurity companies who are authorized to vend their products to the government. similar companies will probably see record gains and may end up hiring fresh staff to help meet the unforeseen demand for their products and services.
More importantly, all this spending will nearly clearly drive invention. In history (pre-cloud), security companies would generally release a new interpretation of their products each time to keep up with the ever-changing security geography. These new performances nearly always contained new features that were designed to allure guests and to get a leg up on challengers (who would inescapably add a similar point to the coming interpretation of their product).
Although the cloud era has forced security companies to change the way that they do effects, the introductory generalities from times past still apply. The main difference is that the cloud has given these companies the capability to release new features and capabilities much more fleetly than might have been possible in history.
Investing in Cybersecurity Innovation
All of this is to say that invention has always been an important part of cybersecurity assiduity. Security companies have always invested coffers into developing new tools and capabilities that will help them to stay ahead of cybercriminals and challengers likewise.
With billions of bones in government spending being poured into the security assiduity, we will nearly clearly see security products and cloud services ultimately take an exponential vault forward as a direct result of being suitable to invest more heavily in product development and security exploration.
This invention won’t be limited solely to security product merchandisers and cloud providers. The flashback is that CISA is going to be entering $2.9 billion. CISA has historically handed cybersecurity guidance and recommendations to government agencies and the private sector.
These recommendations aren’t pulled from thin air but are the product of exploration. The increased backing will allow CISA to engage in indeed more cybersecurity exploration, eventually situating it to produce better recommendations.
Government Spending More on Cyber Security, Why?
The increased budget allocations for cybersecurity are most likely tied to a White House directive from March 21, 2022, stressing the need for increased cyber defenses. This directive follows a long line of high-profile security incidents, like last time’s attack on the Colonial Pipeline, which caused energy dearths along the east coast.
It’s worth noting that this statement wasn’t directed simply at government agencies. The statement also encouraged private sector businesses to shore up their cyber security defenses in agreement with CISA guidelines.