Microsoft (MSFT.US) to hold cybersecurity summit to boost security confidence after global 'blue screen' outage

Market VisionTuesday, Sep 10, 2024 8:50 am ET

1min read

Microsoft (MSFT.US) will hold a summit on Tuesday to discuss measures to improve cybersecurity systems. The company's software update from CrowdStrike (CRWD.US) failed in July, causing a global IT outage.The event marks a significant first step by Microsoft in addressing the problems that affected nearly 8.5 million Windows devices on July 19, disrupting operations from major airlines to banks and healthcare.The event will take place at Microsoft's headquarters in Redmond, Washington, and government representatives have also been invited.The outage in July raised concerns about the lack of preparedness among many organizations to implement emergency plans when IT systems or the software within them fail. The outage also exposed the risk of relying on a single vendor for a one-stop security solution, analysts said.Delta Air Lines (DAL.US) said it is pursuing legal claims against CrowdStrike and Microsoft after the outage led to the cancellation of hundreds of flights and cost the airline at least $500 million.

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