2024-07-19 15:52:58
A global IT outage has caused complications in many areas around the world since this morning. The cause is a faulty update of an antivirus software called Crowdstrike that affected Windows computers.
If the company had deployed the patch at noon and the problem was regarding to be fixed, the damage would be very serious. Businesses, media, institutions, airports, train stations… This seems to be the largest computer failure in history, and the consequences are serious.
The cost is estimated to be in the millions or even billions
What can we estimate the cost of the consequences of the outage? It is difficult to say at this point, as the industries affected by this ripple effect are diverse and the outage has not yet been fully resolved. However, Mourad Elmalki, head of security at Intercloud, a company specializing in cloud computing, estimates that the costs “will be in the hundreds of millions of euros.” echoThe expert added that it would “probably take a month or two” to completely resolve the issue.
Baptiste Robert, a cybersecurity expert, said that while the total cost was “difficult to quantify”, he estimated to our colleagues that “it would be in the hundreds of millions of euros, even close to 1 billion euros”. France 3.
Fabrice Epelboin, entrepreneur and teacher at Sciences Po Paris, adds a bill to his interview France 24who spoke of “billions of dollars”. “When you close an airport, even for just 24 hours, it represents a huge loss of money, and this is happening internationally. So the total will be in the billions of dollars.”
Stock market crash
Not surprisingly, financial markets also felt the effects of the outage, with world stock markets falling shortly following opening on Friday. The London Stock Exchange was even directly affected by the computer failure.
For example, airline stocks fell by around 2% to 3% due to a massive IT outage. French airline Transavia also notified its customers that “affected passengers will be able to get a refund or flight delay.” Crowdstrike, the company that caused the outage, saw its shares fall by nearly 17% on electronic exchanges before the opening of the New York Stock Exchange on Friday.
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