The Irish Times Innovation Awards
CyberPrism was chosen as the Irish Times Innovation awards finalist in the IT & fintech category automating cyber risk assessment
The idea was to automate the services provided by Cyber Risk International.
“We build cyber frameworks for companies and you have to understand geopolitical, technical and other risks to do this,” says Dwyer. “We looked around for software that could do it but there was nothing out there. That was when I decided to create a piece of technology to do it. I complied a wish list of what it should do and then set about building it.”
The result was CyberPrism, a highly innovative online solution that combines artificial intelligence (AI) with business and cyber intelligence in order to assess the cyber security, risk and privacy management status of an organisation. In essence it produces a cyber risk rating score, not unlike a credit rating, and offers evidence that an organisation is safe to deal with from a cyber security and privacy perspective.
Development of the solution took place in parallel with the consultancy business. “In 2016 we went into a holding pattern with the company and only took on enough business to fund the development of the product,” says Dwyer.
“Chief executive Paul C Dwyer: “It was successful straight away, and quickly achieved annual sales of over €1 million.”