Oireachtas Joint and Select Committees

Wednesday, 31 May 2023

Joint Oireachtas Committee on Transport, Tourism and Sport

A Common Vision for Cybersecurity: Discussion

Mr. Stefan Umit Uygur:

I totally agree with what Mr. Larkin and Professor O'Shea have stated. The only point I would like to make is about the €1 billion. If we look at any organisation today, an average expenditure, or the budget reserve, for cybersecurity is identified from the market as 3% of the turnover of the organisation. What is 3% of the GDP of the State? Is it €1 billion? No. That figure of €1 billion is peanuts. Much more money needs to be freed up for cyber. This is what other nations do that are able to keep pace with technology, digital transformation and cyber because they experiment a lot and they get the return. Cyber is not a cost. It is the future.

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