The Darktrace PLC (LON: DARK) share price edged higher after the cyber security firm revealed that its latest product Darktrace PREVENT™ had witnessed the highest number of customer opt-ins of any product launch in the company’s history. The Darktrace PLC (LON: DARK) share price edged higher after the cyber security firm revealed that its latest product Darktrace PREVENT™ had witnessed the highest number of customer opt-ins of any product launch in the company’s history.
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The global cybersecurity and AI firm noted that many of its existing clients had embraced the new product line in addition to its existing Darktrace DETECT™ and RESPOND™ products. The customers who signed onto the new product already use at least one of the two existing products, yet they felt the need to add the new PREVENT™ product.
Darktrace’s PREVENT™ product line allows Chief Information Security Officers (CISOs) to respond proactively to cyber threats by using AI to ‘think like an attacker’ and find pathways to penetrate an organisation's systems and shore up security in the affected areas.
The company claims that its Cyber AI LoopTM is the industry’s first always-on AI-powered system that can optimize an organisation’s cybersecurity systems in real-time based on feedback gathered from constantly analyzing the security of the IT systems.
Darktrace also published glowing testimonies from its existing clients. All of them said their return on investment (ROI) after embracing the company’s cybersecurity systems was greater than they had imagined. The firm is building a roster of dedicated clients even as it launches more products.
Many have questioned the effectiveness of Darktrace’s AI-powered cybersecurity solutions based on the company’s association with Mike Lynch, the embattled businessman accused of duping HP into buying his first tech startup autonomy for US$11 billion.
Lynch is still facing extradition to the United States, and Darktrace has taken significant steps to distance itself from him. Mike Lynch relinquished his last role with the company as an advisor in February this year and is no longer involved in its day-to-day running.
Darktrace continues to set new standards in the fast-growing cybersecurity industry, with global losses from cybercrime annually estimated at $6 trillion and are forecast to rise to $10.5 trillion by 2025.
Darktrace shares have risen 32.3% this past month but are still down about 6% for the year.
*This is not investment advice.
Darktrace share price.
The Draktarce share price edged 4.82% higher to trade at 415.0p, rising from Friday’s closing price of 395.9p.
