RSS Feed Source: MIT Technology Review
In July 2024, a botched update to the software defenses managed by cybersecurity firm CrowdStrike caused more than 8 million Windows systems to fail. From hospitals to manufacturers, stock markets to retail stores, the outage caused parts of the global economy to grind to a halt. Payment systems were disrupted, broadcasters went off the air, and flights were canceled. In all, the outage is estimated to have caused direct losses of more than $5 billion to Fortune 500 companies. For US air carrier Delta Air Lines, the error exposed the brittleness of its systems. The airline suffered weeks of disruptions, leading to $500 million in losses and 7,000 canceled flights.
The magnitude of the CrowdStrike incident revealed just how interconnected digital systems are, and the extensive vulnerabilities in some companies when confronted with an unexpected occurrence. “On any given day, there could be
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