Digital Catapult will be running two one-day workshops in London, respectively on the 2nd and on the 3rd of April 2019, to introduce a new perspective on cyber risk in complex ecosystems.

With an increasingly complex and interconnected world, we need to reconsider our perception of risk as it applies to cyber threats. Traditional risk models rely heavily on probabilistic approaches, which demand stable distributions and almost complete knowledge of possible states. New advances in digital technologies, combined huge data, rapidly evolving automated algorithms and the prospect of a generational shift in network speed and capacity pose serious challenges to traditional risk modelling.

Digital Catapult, as part of the EU Horizon 2020 research project Hermeneut, has proposed a new approach: the Benefit Harm Index (BHI). This index integrates ideas from economics and complexity science into a new approach to understand dynamic and emergent threats. Digital Catapult will be showing how their approach can be applied to explore emergent threats to the UK financial markets infrastructure (FMI), and to the UK Energy Grid that is undergoing an IoT-driven smart transformation.

2 April 2019 – Exploring cyber attacks and risks associated with the UK financial markets infrastructure (FMI)

During this workshop, Digital Catapult will use a model of the cyber ecosystem representing the UK financial markets infrastructure to explore how dynamic and emergent threats can generate systemic risk. In this context the potential growth rates for both benefits and harm associated with the current digital transformation of the UK Finance sector will be explored.

Who should attend?

This event is tailored for cybersecurity companies, finance professionals, financial institutions and cyberinsurance companies, as well as those interested in systems modelling.

Why you should attend

Attending this workshop provides an opportunity to participate in leading edge discussions to better understand uncertainty and risk. At the workshop, a hypothetical multi-vector cyber attack on the infrastructure of UK Financial Markets will be shown. It will be initiated by a nation state threat source on one of the critical UK Financial Markets Infrastructure services as an example. Using the cyber ecosystem model of the UK financial markets infrastructure, there will be a number of interactive team sessions to show how tools, such as the implications wheel, can be used to identify emergent threat scenarios through interdisciplinary and inter-institutional approaches. The workshop will conclude with a session to gather feedback and to explore the potential for taking this new approach to cyber risk forward in the context of the Finance sector.

Summary

02 April 19
101 Euston Road, London, NW1 2RA
Register for the event here.

Agenda

09.30–10.00 Introductions and objectives of the day
10.00–10.45 Presentation of the BHI perspective on cyber risk, Digital Catapult white paper on finance
10.45–11.00 Break
11.00–11.15 A proposed approach on putting measures on the BHI
11.15–12.00 Setting context for finance scenarios followed by Q&As
12.00–13.00 Lunch
13.00–14.30 Putting the BHI into practice – identifying scenarios through interdisciplinary and inter-institutional approaches
14.30–15.00 Break
15.00–16.00 How to take the BHI forward in the finance sector?

3 April 2019 – Exploring cyber attacks and risks associated with the UK Energy Grid

During this workshop, Digital Catapult will use a model of the cyber ecosystem representing the evolving UK smart energy grid to explore how dynamic and emergent threats can generate systemic risk. In this context the potential growth rates for both benefits and harm associated with the current IoT driven smart transformation of the UK Energy Grid will be explored.

Who should attend?

This event is tailored for cybersecurity companies, IoT manufacturers, value added services companies and cyberinsurance companies, as well as those interested in systems modelling.

Why you should attend

Attending this workshop provides an opportunity to participate in leading edge discussions to better understand uncertainty and risk. At the workshop a hypothetical multi-vector cyber attack will be shown. It will be initiated by a nation state threat source on the UK Smart Energy Grid as an example. Using the cyber ecosystem model of the UK Smart Energy Grid there will be a number of interactive team sessions to show how tools such as the implications wheel can be used to identify emergent threat scenarios through interdisciplinary and inter-institutional approaches. The workshop will conclude with a session to gather feedback and to explore the potential for taking this new approach to cyber risk forward in the context of the energy sector.

Summary

03 April 19
101 Euston Road, London, NW1 2RA
Register for the event here.

Agenda

09.30–10.00 Introductions and objectives of the day
10.00–10.45 Presentation of the BHI perspective on cyber risk, Digital Catapult white paper on the IoT evolution of the UK Energy Grid
10.45–11.00 Break
11.00–11.15 A proposed approach on putting measures on the BHI
11.15–12.00 Setting context for the IoT evolution of the UK Energy Grid
12.00–13.00 Lunch
13.00–14.30 Putting the BHI into practice – identifying scenarios through interdisciplinary and inter-institutional approaches
14.30–15.00 Break
15.00–16.00 How to take the BHI forward in the IoT evolution of the UK Energy?