Dramatic rise in cyberattacks: The Schwarz Group’s response

By: Trademagazin Date: 2024. 10. 08. 11:12

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In 2023, the German economy was severely affected by cyber attacks, which caused nearly 300 billion euros in damage. The Schwarz Group, owner of the Lidl and Kaufland grocery chains, faced a particularly significant threat.

The company’s CEO, Gerd Chrzanowski, said that while before the war in Ukraine, there were about 3,500 attacks per day on the company’s systems, today this number has risen to 350,000, mainly from Russia, reports Pénzcentrum.

The Schwarz Group develops artificial intelligence-based security solutions to combat the growing number of cyber attacks. The company aims to make this technology available to other companies, contributing to Germany’s “digital sovereignty”, which would protect data from being stored in foreign countries. In addition, by 2025, the group wants to develop a platform based on artificial intelligence for the European retail sector, which would help, among other things, to manage queues at checkouts.