Washington, DC – Leaders from the world’s leading internet and communications technology companies joined with USTelecom and the Information Technology Industry Council (ITI) today to announce the formation of the Council to Secure the Digital Economy (CSDE).
CSDE brings together leaders and innovators from across the internet ecosystem to combat increasingly sophisticated and emerging cyber threats through collaborative action to drive effective cyber solutions across the public and private sectors. Founding partners include Akamai, AT&T, CenturyLink, Ericsson, IBM, Intel, NTT, Oracle, Samsung, SAP, Telefonica and Verizon.
“I applaud ITI, US Telecom and their members for leaning forward and addressing the challenges of a more secure digital economy by building upon strategic initiatives from a more integrated and collaborative ICT approach. This is exactly the type of industry collaboration needed to help frame the important issues through a shared digital economy lens.” Chris Krebs Senior Official Performing the Duties of the Under Secretary at the Department of Homeland Security
The exponential growth of internet-connected devices worldwide is transforming our global digital economy. By 2020, the digital economy could add $1.36 trillion to the GDP of the world’s top ten economies. With over 8 billion Internet of Things (IoT) devices in the market, the value of digital data flows in the global market is estimated at about $8 trillion in a single year. This tremendous growth, however, is accompanied by significant and costly cybersecurity risks. To help mitigate these risks, CSDE will draw on its cross-sector technical and policy expertise to collaborate with policymakers across the globe to develop effective and practical solutions to our shared cybersecurity challenges.
“As our hyper-interconnected world becomes increasingly dependent upon the internet and communications infrastructure, threats to the global digital ecosystem have become more frequent, sophisticated and consequential,” said USTelecom President and CEO Jonathan Spalter. “The CSDE reflects a shared commitment across the leadership of the global information and communications technology sector to pursue security mitigation as intensely as digital innovation.”
“As innovators and stewards of the digital economy, this new joint USTelecom and ITI council is committed to building a more resilient ecosystem for consumers, businesses, and the public through improved cybersecurity, trust, accountability, and engagement with government,” said ITI President and CEO Dean Garfield. “This is a tremendous opportunity to convene top thought leaders, innovators, technologists, and policymakers to address and mitigate threats to our global digital economy.”
The council is comprised of senior internet and communications technology leaders and experts representing the leading global technology companies with a diversity of interests and a strongly-shared commitment to working collaboratively toward securing our digital economy from current and future cyber threats. CSDE will determine a distinct set of priorities and industry initiatives, working in partnership with the public sector both in the U.S. and globally.