- Stefan Frei
- Guest View for SCOPE 02/2017 - Credit Suisse Asset Management Magazine
In connecting people and machines ever more closely together, the internet has changed our lives forever. These changes are disruptive, like the introduction of the railroads and the automobile. This latest innovation is not the first to prompt critical questions regarding security and safety. New possibilities as well as threats emerge at the interfaces of technology, economy and society. What are the lessons we can draw from history?
Cyber risks are abstract, have developed slowly and, consequently, were ignored for a long time. Digital products increasingly pervade every area of life, and it is difficult to allocate resources to protect against abstract risks. These are often recognized only once a major event has occurred, with the danger of overreaction vis-à-vis defense.