Using AI to Build Cyber Resilience

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1:30When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, risk can affect multiple parts of the organization at once, from property and liability to cyber and regulatory challenges. At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive. And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering, and claims experience. Learn more at thehartford.com slash risk mitigation.

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2:12Scarlet Fu:Bloomberg Audio Studios. Podcasts. Radio. News. You're listening to Bloomberg Business Week with Carol Masser and Tim Stenevek on Bloomberg Radio. The CEO of Rubrik, of course, we know this is a cybersecurity and data management company that helps organizations protect, back up and recover their data, especially after attacks like ransomware. Bipol Sinha, of course, the CEO here, want to chat a little bit about what your company is doing right now in this space. How are you using AI automation or data analytics to really stay ahead here? Thank you so much for the opportunity. The rubric is the security and AI operations company.

2:55We help our customers recover from, as you said, ransomware attack so that they can get back into the business without disruption. Our fundamental thesis is cyber attacks are inevitable and every business has to have assumed breach, assume attack posture. And rubric helps them understand the risk of an attack and how do you recover from an attack so that your business is uninterrupted. And on the AI side, we are also helping our customers accelerate their AI journey, adopt more of their agentic systems. One of the big concerns around agents is agents can misbehave. They can hallucinate or they can get compromised by cyber actors.

3:35So we are giving them a rewind button so that if agents take actions that are not desirable, they can just press the rewind button and undo the action of misbehaving agents.

3:46Scarlet Fu:Beyond misbehaving agents, as more companies adopt or implement AI, does that make them more vulnerable to attacks like ransomware? Does that open up any vulnerabilities? Obviously, more AI adoption, more agentic adoption actually creates a larger surface area of cyber attack because you have more software. But at the end of the day, AI is 100 times more opportunities and 100 times more risk. On the risk side, now AI agents can do 10x more damage in one-tenth of the time. So business have to have the confidence that they can deploy agents, they can do AI transformation, create an AI enterprise, deploy AI worker without the risk of AI.

4:32And that's what we are focused on. How do we reduce the risk and give our customers more confidence to do the AI transformation? Well, you really underscored the idea that AI can be an asset here or it can really cause some real damage. So how are you thinking about balancing innovation with cybersecurity and data privacy? Definitely the AI's aim is to increase productivity, but on the risk side, only the right data can go to the right person on the right platform at the right time. And that is the organization's goal. We are helping our customers understand the sensitivity of the data, have integrity and availability of the data and their services.

5:10And at the same time, if anything goes wrong, giving them a rewind button so they are confident about deploying AI in production, deploying agents to actually do real work.

5:23Scarlet Fu:When you offer them a rewind button, does it rewind everything? I mean, it erases all, you know, the issues that they want to clean up, or is there some residue that simply can't be done away? We give them a rewind button to completely undo the action of an agent, but it has to be done surgically because you don't want to take good actions out. And that's what we do. We give them full visibility on what has happened and the ability to surgically undo only undesirable changes. Interesting. How exactly does that work? What we do is we give them a platform where we actually monitor all the changes by an agent and connect that back into the cyber resiliency platform that Rubrik has developed over the last 10, 12 years so that you can connect the action to the effect and then ability to undo the effects.

6:16Scarlet Fu:I want to ask you about consolidation in your space, in cybersecurity space. There's been a lot of talk that this is a crowded space. There are a lot of small companies, a lot of startups, and people have been waiting for waves of consolidation for a while now. But we have an administration that is much more open to mergers and acquisitions than the previous administration. How do you look at the landscape right now, the competitive landscape? Are there too many players right now? Traditionally, cybersecurity, the way it evolved was it is focused on prevention and detection of attacks. And there are hundreds of vendors and tens of tools that average enterprise 80 to 100 tools they buy to prevent and detect attacks.

6:59That space is super crowded, too many vendors, too much fragmentation, is still a number of successful cyber attacks. We are focused on the resiliency part of it, where we are saying attacks will happen. Are you ready to withstand an attack and keep your services up and running? So our space is a new market, new segment in cybersecurity, which is rapidly growing. But the older cybersecurity segment around prevention and detection has a lot of vendor. There has to be consolidation because businesses can't deal with 80 tools from hundreds of vendors and constantly juggling and having these disconnected systems.

7:34So you see Palo Alto Network, CrowdStrike and others are making big headways in creating platforms that can connect all aspects of the infrastructure security around prevention and detection.

7:46Scarlet Fu:Understood. So people, I need to ask you, are you looking to, you know, are you canvassing the market and looking to maybe add on to what your current capabilities offer? Are you in the marketplace to, are you a buyer potentially? Ashley? Always. We always look at our current roadmap and how do we accelerate this roadmap for our customers. We are always looking for great team, great technology, great products to acquire and accelerate our roadmap. We have taken this approach of organic and organic development, and we want to holistically help our customers do the AI transformation, create AI enterprise of confidence.

8:25Scarlet Fu:All right. I bring that up because Rubrik did announce a deal to buy Predabase back on June 25th for about half a billion dollars. All right. Bipul Sinha, thank you so much for joining us today. Bipul is CEO of Rubrik, a cybersecurity firm and data management firm as well. When you're running a business, the best days are the ones where priorities stay on track. For midsize and large companies, risk can affect multiple parts of the organization at once, from property and liability to cyber and regulatory challenges. At that level, managing risk becomes an ongoing discipline. At the Hartford, the focus is on helping businesses manage risk before it turns into something more disruptive.

9:09And when losses do happen, that work is paired with insurance coverage shaped by years of underwriting, risk engineering, and claims experience. Learn more at the Hartford dot com slash risk mitigation. Policies provided by Hartford Fire Insurance Company and its property and casualty affiliates, Hartford, Connecticut. Get the news you need in just 15 minutes. Start your day with Bloomberg Daybreak, the podcast with a global view on the stories that matter. I'm Nathan Hager. And I'm Karen Moscow. Join us each morning for curated stories on current events, politics, business and foreign relations.

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