In this episode of "The Business of Tech," host Dave Sobel discusses the growing threat to MSPs and IT service organizations as ransomware gangs target small businesses through their IT providers. He highlights the LockBit ransomware group using remote monitoring and management software to spread their ransomware and compromise downstream customers. Dave emphasizes the importance of securing systems and shedding complacency for SMBs who often believe they are not a target.

Dave also explores the double-edged sword of affordable cloud computing, citing a report commissioned by AWS and conducted by Accenture that reveals the widespread adoption of cloud services by businesses, unlocking significant productivity gains. However, he warns SMBs about the need for cost management and understanding the true costs and benefits of cloud computing.

In a product segment, Dave highlights notable updates, including Microsoft's advanced mixed-reality goggles for combat situations, Azure Update Manager's general availability for managing software updates, Amazon's updates for its voice assistant Alexa, and Google's BARD AI chatbot's ability to search and summarize information from Gmail, Docs, and Drive.

Three things to know today:

00:00 The Bullseye on MSPs: How Ransomware Gangs are Targeting Small Businesses Through Their IT Providers

03:54 The Double-Edged Sword of Affordable Cloud Computing

05:55 Products That Could Transform Work, War, and Everyday Life

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