This is a special “Beyond the Global Waves” podcast, as the European Network and Information Security Directive (NIS2) comes into force on October 17, 2024.
The NIS2 directive, implemented by the European Union in 2023, aims to enhance cybersecurity across the bloc by imposing strict regulations on companies in various sectors. The directive classifies organisations into essential and important entities and requires them to implement robust cybersecurity measures.
While this approach strengthens security, it also presents significant financial burdens for businesses, especially startups and SMEs. This regulatory environment may stifle innovation and hinder economic growth compared to the more flexible regulatory frameworks in the United States and Asia. The long-term success of NIS2 depends on finding a balance between ensuring cybersecurity and fostering an environment conducive to innovation and economic growth.
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