BIX enables cybersecurity and business leaders to gain
insight into their exposures and speed up cyber risk burn down
while keeping your cyber risk data private.
LAS
VEGAS, Aug. 6, 2024 /PRNewswire/ --
Balbix, an AI-powered Cyber Risk and Exposure Management
platform, introduced its BIX conversational AI assistant at
Blackhat USA 2024. The BIX AI
assistant is already in use at many Fortune 1000 companies as part
of an early access program.
![(PRNewsfoto/Balbix) (PRNewsfoto/Balbix)](https://mma.prnewswire.com/media/1456946/Balbix_Logo.jpg)
Today, managing cyber risks requires identifying key
vulnerabilities and understanding related threats, analyzing attack
paths, evaluating the potential impact on business, and assessing
how well security controls will work. Each of these tasks requires
specific tools, integrations, dashboards, reports, and tickets with
remediation steps, as well as dedicated personnel to oversee and
manage these activities. However, with vast amounts of data from
different sources, it is very challenging to understand and
prioritize these risks and act quickly. Communicating cyber risks
to those outside the security team is particularly difficult, as
they often don't grasp the technical details or the consequences of
potential security breaches.
Imagine if managing cyber risk was as easy as asking a colleague
a question and getting a clear, actionable answer. What if you
could also instruct your assistant to keep relevant stakeholders
informed about their responsibilities and deadlines, and to provide
you with periodic updates? Picture every key player in
cybersecurity— from the CISO, CIO, VM teams and security operations
to IT staff and legal teams—having their own AI assistants to help
manage their part of the cyber risk and exposure management puzzle,
conversing in role-appropriate language. Today we are taking a huge
step forward towards this vision.
BIX has the following key capabilities:
- Personalization: BIX customizes its choice of
words, detail level, recommendations, and interactions according to
the user's role, preferences, and past conversations. For example,
BIX can explain the financial impact of a threat like "Log4j" in
monetary terms to executives while also identifying specific cases
and suggesting mitigating actions when interacting with IT
staff.
- Context Awareness: From time to time, we all use
Google, ChatGPT and other tools to understand risk concepts on a
generic level. BIX integrates with your cybersecurity, IT, and
business systems and understands details about your assets, apps,
software versions, users, and their roles in your business,
specific threats facing your organization, your security measures,
who's responsible for what, who works fast and who does not,
acceptable risk levels, and your target SLAs. By querying BIX, you
can leverage this knowledge to help understand specific security
risks and recommended mitigation tasks in context.
- Mobile Experience: BIX is available on your
smartphone and provides answers when you need them, greatly
improving your situational awareness. BIX streamlines cybersecurity
decision-making by eliminating the need to consult multiple widgets
and dashboards across different tools, saving you hours or even
days of gathering analytics.
- Recommendations: In cybersecurity, it's common to
get sidetracked by irrelevant tasks or overwhelmed by endless
research on complex topics, especially for less experienced IT and
security staff. BIX acts like an executive assistant, guiding
stakeholders by suggesting key questions to ask. This helps
organizations move from a focus on threats to a more effective,
risk-based approach to cybersecurity.
Ed Amoroso, Founder and CEO of
research and advisory firm TAG Cyber, stated, "Managing enterprise
cyber risk at acceptable levels is an extremely challenging job.
Unfortunately, organizations across the industry face deep
cybersecurity challenges due to tools sprawl, skills gaps, and
budget limitations. Further, failure to comply with regulatory
requirements on materiality, patching, and timely software updates
has sharply increased organizations' financial and reputational
risk". Ed also added, "Balbix's new AI assistant can improve
overall enterprise understanding of material risks as well as
operational efficiency, speeding up response times. This benefits
organizations new to security and those with established large
teams."
Under the hood, BIX utilizes RAG-based Large Language Models
(LLMs) running on specialized NVIDIA hardware. However, even the
most advanced standalone LLMs struggle with multi-step tasks that
require navigating different contexts and managing dependencies and
privacy constraints. This is where BIX's multi-agent architecture
comes in, breaking down complex problems into discrete subtasks
handled by specialized agents, often operating in different privacy
domains. This enables BIX to offer a safe, accurate, and extensible
approach to cybersecurity conversations and automate tasks
previously considered beyond reach.
Early users of BIX have seen a dramatic improvement in their
overall cyber risk and exposure management experience.
Understanding risk, making decisions, and risk response times have
gone down from days and weeks to minutes. Combined with the rest of
Balbix's capabilities, this has translated into sharply reduced
risk and savings from productivity improvements.
"Cybersecurity is inherently complex, demanding not only
extensive automation but also simplification and streamlined
communication," stated Gaurav Banga,
founder and CEO of Balbix. "Until now, Balbix has used AI primarily
for computational tasks in cyber risk management. We are pioneering
its use to demystify the complexities of cyber risk for all
stakeholders and enhance communication between them. This release
of BIX is a step forward in managing risk and exposures more
effectively. It marks a significant development in our ability to
be proactive, rather than reactive, in our cybersecurity
efforts."
More information about the Balbix AI and BIX AI assistant can be
found at https://www.balbix.com/product/ai/ AND
https://www.balbix.com/blog/bix/
About Balbix
Balbix enables businesses to rapidly
reduce cyber risk by identifying and mitigating their riskiest
cybersecurity exposures. Balbix ingests data from hundreds of
security and IT tools to deliver actionable insights for risk
reduction. With Balbix, businesses get a unified asset inventory,
risk-based exposure and vulnerability prioritization, mobilization
for remediation and mitigation activities as well as cyber risk
quantification in a single platform. A rapidly growing set of
Fortune 500 companies trust Balbix as the "brain" of their infosec
programs. Balbix was recognized in Forbes
America's Best Startup Employers 2024, by CNBC in their 2022
Top 25 Startups for the Enterprise and ranked #32 on the 2021
Deloitte Fast 500 North America.
Media contact:
Makayela
Hills
Makayela.Hills@ruderfinn.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/balbix-unveils-bix-the-industrys-first-genai-powered-assistant-for-cyber-risk-and-exposure-management-302215672.html
SOURCE Balbix