BlackBerry expands AI-powered cybersecurity service | 2024-05-02 | Investing News

• BlackBerry (TSX:BB) has released the new and expanded CylanceMDR, a managed detection and response tool backed by the company’s Cylance AI platform, the cybersecurity industry’s longest-running predictive platform on the market
• CylanceMDR offers comprehensive and continuous protection supported by a US$1 million guarantee to cover security incident costs for eligible customers
• BlackBerry offers intelligent security software and services to enterprises and governments worldwide
• BlackBerry stock has given back 31.13 per cent year-over-year, and 68.62 per cent since 2019

BlackBerry (TSX:BB) has released the new and expanded CylanceMDR, a managed detection and response tool (MDR) backed by the company’s Cylance AI platform, the cybersecurity industry’s longest-running predictive platform on the market.

CylanceMDR (formerly CylanceGUARD) now offers three packages – Standard, Advanced and On-Demand – enabling customized solutions to address unique cybersecurity challenges. Highlight features include hands-on onboarding, alert triage, investigation, managed threat hunting, digital forensics, incident response, critical event management, advisory and tuning services, and a US$1 million guarantee to cover security incident costs for eligible customers.

CylanceMDR’s underlying driver, the Cylance AI platform, boasts independent testing showing a 1,300 per cent improvement in threat detection speed, while preventing 98 per cent of attacks earlier in the kill chain, making CylanceMDR up to 85 per cent more cost-effective than building an in-house system. An additional study shows that the tool can yield an up to 3x return on investment.

The news follows the release of BlackBerry’s cybersecurity assistant, Cylance Assistant, with generative AI capabilities designed to expedite enterprise-level decision-making.

Leadership insights

“CylanceMDR offers more than just industry-leading technology; you’re getting a true AI-driven MDR fueled by proprietary threat intelligence. But we know it’s not enough to have the right technology. The key is having the right team to back you up,” Nathan Jenniges, senior vice president and general manager at BlackBerry Cybersecurity, said in a statement. “Our philosophy is to combine our technical excellence with our human expertise to provide unparalleled support to organizations of any size. By partnering with our award-winning security operations center team, you’re essentially augmenting your team with ours, capable of managing the full spectrum of cybersecurity challenges. We are extremely confident that we are applying all the right measures to protect our customers.”

“Given the spiraling cost of a data breach and a growing skills deficit, MDR solutions are gaining popularity as a comprehensive cybersecurity solution for today’s enterprise,” added Craig Robinson, research vice president of security services at International Data Corporation, a global market intelligence, data and events provider. “The right combination of knowledge and expertise with technology can effectively address the pressing time, resource and cost constraints that heavily impact the effectiveness of any defensive strategy.”

About BlackBerry

BlackBerry offers intelligent security software and services to enterprises and governments worldwide. The company’s software powers over 235 million vehicles.

BlackBerry stock (TSX:BB) is up by 1.02 per cent trading at C$3.96 per share as of 11:45 am ET. The stock has given back 31.13 per cent year-over-year, and 68.62 per cent since 2019.

Join the discussion: Learn what other investors are saying about this cybersecurity technology stock on the BlackBerry Limited Bullboard, and check out Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.