Beyond its news and editorial coverage, the Wall Street Journal (WSJ) hosts quarterly virtual and in-person forums. These events capitalize on the WSJ's news team's expertise to create a space for discussing key business trends.
There are many benefits for companies participating in these paid events. Most sessions are one-on-one or small groups so executives can build strong connections with WSJ reporters such as Rob Sloan, Kim Nash and James Rundle.
If you sponsor one of these sessions, you can tailor the topics around issues that drive your business forward, and you can bring your own executives into the mix.
Each session you sponsor offers the potential for increased brand exposure. References to past sessions occasionally appear in WSJ articles and other media coverage throughout the year. Event email teasers might feature promotions for speakers' companies. And, since WSJ reporting targets key cybersecurity decision-makers, exposure at this event can help spread a company's POV to new and important audiences.
Highwire PR had the pleasure of attending this quarter's WSJ Pro Cybersecurity Forum event. Here are five insights we uncovered regarding current cybersecurity trends and how the WSJ reporters are thinking about them.
1. How companies (and attackers) are using AI
As with many conferences and events this year, artificial intelligence remained a strong theme at the Cybersecurity Forum. WSJ reporters emphasize the critical role that human control plays in guiding the deployment of AI tools.
Advanced machine learning models are spurring a rapid evolution in AI. But humans provide a level of intuition and context that automation can't yet match. Still, there was a lot of discussion about how attackers leverage tools like Open AI's ChatGPT.
The WSJ reporters discussed an alarming rise in ChatGPT and other generative AI tools being used to produce realistic phishing scams. The consensus was that internal security will be more challenging until cybersecurity keeps up with AI's rapid evolution.
2. Anticipation for SEC board's new cyber rules
The Securities and Exchange Commission (SEC) has proposed new rules in the cybersecurity arena. Members of the SEC's Municipal Securities Rulemaking Board, which includes securities associations and cybersecurity experts, are taking this opportunity to address and clarify critical issues, and the discussion will certainly be a subject of news coverage in the coming months.
While new rules and amendments to existing regulations are under consideration, don't expect massive changes. In many respects, the proposals clarify rules the SEC already enforces. As a result, businesses working within the current rules should focus on codifying them in policies.
The way the WSJ sees it, success with the new regulations will be a matter of aligning plans with the finalized SEC standards. Documenting and enforcing policies will go a long way toward ensuring compliance.
3. Cybersecurity must have a role in the boardroom
According to the WSJ cybersecurity team, every boardroom should have a cyber expert. Recent reporting suggests 90% of public companies need more cyber expertise in the boardroom. But a director who understands the current cybersecurity threat landscape is necessary to ensure a balanced cyber risk posture.
However, the cyber-expert in the C-suite must avoid becoming a single-issue director. As the WSJ reporters put it, the expert in cybersecurity in the C suite still needs to contribute to all board discussions. This will keep their seat valuable and align with their company's goals.
4. A shift in ransomware tactics toward extortion
Looking at broad, industry-wide trends, the WSJ team is noticing some shifts underway in a couple of evergreen topics.
First, cyber attackers are transitioning away from traditional ransomware to extortion attacks. Now up to 83% of ransomware incidents are using extortion tactics. While traditional ransomware holds a company's data hostage, the addition of extortion makes negotiations more personal. Cybercriminals will scan a device for personal and potentially embarrassing information. They will threaten to publicly release their findings if the victim doesn't pay up.
5. Cybersecurity budgets are tight or decreasing
Next, the WSJ reporters notice a downward trend when analyzing the last few years of cyber budgets. Budgets have been mostly holding steady for a while. The WSJ reporters are mixed on the prospect of funding increases in 2023.
Even though budgets are tight, many leaders refuse to cut employee training and development costs. That's a sign that security training remains a priority, especially as cybersecurity experts are at a premium these days.
Learn more about Highwire PR's cybersecurity conference support
As companies begin to make their communication plans for the year's second half, it's important to consider the issues that matter. Staying on top of the trends reporters care about helps make sure your brand stays relevant. Well-informed communications leaders engage better with reporters, creating more opportunities to present a compelling narrative. This in turn helps achieve increased brand visibility with coverage. It's an excellent way to help your company stand out from the crowd as an authority.
To learn more about Highwire's cybersecurity practice and the services we provide for onsite conference support, please visit our website.
