"How Bad Are Cyberattacks for the Economy? This Professor Helped the White House Assess the Damage"
Anna Scherbina, an associate professor of finance at Brandeis International Business School, served as a senior economist on the Council of Economic Advisers (CEA) from 2017 to 2019. CEA is responsible for advising the president of the United States on economic policy. Scherbina wrote a chapter about cybersecurity for the 2018 Economic Report of the President in which she highlighted the financial impact of data breaches on the US economy. Scherbina and her colleagues estimated that malicious cyber activity cost the US economy between $57 billion and $109 billion in 2016. This article continues to discuss Scherbina's research and thoughts surrounding the consequences of data breaches, the amplification of damage by supply chains, and how artificial intelligence (AI) will impact industries.