Wave Systems Corp. (fka WAVXQ)

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Cybersecurity industry will have 3.5 million unfilled jobs by 2021

https://www.mercurynews.com/2019/03/29/the-cybersecurity-industry-will-have-3-5-million-unfilled-jobs-by-2021/

The demand for cybersecurity workers is the on the rise, fueled by an increase in cybercrime.

Businesses, utilities and government agencies are scrambling to protect their data and computer systems in the face of rising cyberattacks, fueling an increased demand for cybersecurity workers.

A report from Cybersecurity Ventures predicts 3.5 million cybersecurity jobs will go unfilled worldwide by 2021. The research and statistics firm compiled that number after reviewing dozens of employment figures from analysts, job boards, vendors, governments, the media and other organizations.

Cybercrime also is expected to cost the world $6 trillion a year by 2021, up from $3 trillion in 2015, the company reported.

Biggest threat to mankind

“Cybercrime is the single biggest threat to humanity we have seen in our lifetime besides nuclear weapons,” said Kevin McDonald, chief operating officer and chief information security officer for Alvaka Networks. The Irvine company provides network management and security for businesses looking to protect their technical assets and data.

“The impact on our infrastructure — including gas, electric power, water … all of these things — is enormous,” he said.

A worst-case scenario, according to McDonald, would involve an attack on a utility’s main operations and its backup system.

“It takes one grid to bring another back up,” he said.

McDonald was a featured speaker at a Technolink Association event in Pasadena earlier this week. The industry coalition of national and international leaders in aerospace, academia, defense, energy and other fields is seeking to develop a virtual high-tech corridor in Southern California.

Many jobs won’t be filled

McDonald said 1.2 million to 1.5 million of those 3.5 million unfilled cybersecurity jobs will be in the U.S.

“We won’t get anywhere near filling them,” he said. “The burnout rate in this industry, based on the people I know, is very high. It’s long hours. Most of them are working 60 to 65 hours a week. But that’s how you get to these high salaries.”

McDonald is tethered even more tightly to his work, as he’s on call 24/7.

“If one of my clients gets aggressively attacked we have to respond,” he said. “I’m never really off.”

The pay is good

Regardless of the demands, the pay is good. Figures from Mondo, a digital marketing and staffing agency, show some jobs in cybersecurity pay six figures and more.

An information systems security engineer or network security analyst, for example, can expect to earn $90,000 to $150,000 a year depending on experience (rest is at the link)
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Would there be a lot of job burnout if unknown devices (see link below) weren't allowed on the network? The bad guys would effectively be taken off the network and the cybersecurity analyst wouldn't have to deal with them!! Less burnout and less cybersecurity jobs would be required. Less labor required to battle ransomware because of Wave's solutions. With Wave, U.S. organizations could save billions in labor costs, and not have to deal with a shortage in cybersecurity labor! Better security; lower labor costs are a recipe for a WIN/WIN business situation!!!
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https://www.wavesys.com/products/embassy%C2%AE-remote-administration-server-tpm-management

Excerpts:

Secure device & user authentication

Sometimes it feels like security is more effective at deterring your users than hackers. But you still have to protect your enterprise resources, and we’re here to help. We take pride in securing your network, data, and resources to an unprecedented level, without causing a revolt from either IT or your users. In fact, your users probably won’t even know we’re there.

Here’s how it works:

Trusted Platform Module (TPM) + Wave’s ERAS for TPM Management = hardware-secured, fully-managed authentication

Most of your devices already come with TPMs (check out our “What is a TPM?” brochure if you’re not sure why this is exciting). This security chip comes attached to the motherboard of most enterprise-class PCs. There’s nothing “add-on” about it. The TPM provides a verifiable, unique identity for each machine.

Wave’s ERAS for TPM Management gives IT remote, centralized management of all TPMs on enterprise computers and tablets.

With this control, IT can set policies and dictate which machines and users have authority to access which resources. IT can ensure that only known and approved devices are accessing your network. And what’s more, IT can prove it with detailed activity logs.

Please see https://www.wavesys.com/ for more details on Wave's incredible technology!!!