In today's episode of Tech Talks Daily Podcast, we delve into a subject of immense relevance to organizations across the European Union—the Network and Information Security Directive, commonly known as NIS2. Neil sits down with Arik Diamant, Principle Solution Architect EMEA at Claroty, to unpack this complex and transformative piece of legislation. Set to come into effect by October 2024, NIS2 aims to fortify the cybersecurity landscape of the European Union, mandating a higher level of resilience within organizations. Arik brings a unique perspective to this conversation, advocating that for Chief Information Security Officers (CISOs), NIS2 is nothing short of a dream come true. He highlights how the directive forces organizations to meticulously lay out strategy objectives and incident response plans. But what truly stands out in this directive is the emphasis on information sharing and collaboration among organizations. This focus, Arik argues, is not just a step in the right direction, but a leap towards creating a fortified, collective cybersecurity environment. Yet, the clock is ticking. Arik underscores the urgency for organizations to act swiftly to ensure they are in compliance with the new directive. Drawing a parallel with the General Data Protection Regulation (GDPR), he observes that just like its predecessor, NIS2 is expected to have a sweeping impact on the business ecosystem. While GDPR focused on data protection and privacy, NIS2 takes a broader approach, targeting the overall cybersecurity infrastructure. This makes it a complex, yet welcome challenge for CISOs who are entrusted with not just safeguarding information but also ensuring a resilient cybersecurity framework. One of the critical points of discussion in this episode revolves around financial planning. Arik explains that budget allocation is not just about throwing money at the problem; it requires strategic foresight to identify and prioritize key areas that align with NIS2 requirements. He warns against common pitfalls, emphasizing the need for meticulous planning, especially given the relatively short timeframe for compliance. Moreover, the conversation takes an interesting turn when it shifts towards supply chain cybersecurity. NIS2 extends its reach beyond the organization, mandating a close examination of cybersecurity preparedness across the supply chain. This means that companies now need to consider not just their internal practices, but also how secure their external partnerships are. Arik provides valuable insights into how organizations can navigate this complex landscape, offering suggestions for collaborative strategies to enhance security measures. In a notable comparison, Arik describes the introduction of NIS2 as akin to the advent of GDPR, particularly in the imposition of penalties for non-compliance. He calls attention to the onus of responsibility now placed on organizations, reiterating that failure to comply will not go unnoticed or unpunished. As the episode winds down, I raise the topic of national cyber crisis management, asking Arik to envision the role national authorities will play in this new regulatory framework. Arik suggests that there is an opportunity for member states to learn from each other's experiences, thereby collectively raising the bar on cybersecurity standards across the European Union. This episode serves as a comprehensive guide to understanding the multi-faceted elements of NIS2, providing actionable insights for organizations gearing up for the compliance deadline. From budgetary considerations to supply chain security, and from the role of national authorities to the penalties for non-compliance, the conversation with Arik Diamant leaves no stone unturned.