Costs from the global outage could top $1 billion – but who pays the bill is harder to understand

The world has learned that a cybersecurity firm caused a global tech outage, leading to the cancellation of thousands of commercial airline flights and disrupting various businesses. The outage was caused by faulty code in a software update by the firm. It could take days to fix all the affected systems, and it remains unclear whether the firm will compensate affected customers. Experts predict that there may be demands for compensation and potential lawsuits. The costs of the outage are estimated to exceed $1 billion, with airlines being particularly affected. Despite the incident, it is believed that only a small percentage of the firm’s customers may switch to competitors. Reputational damage could pose a challenge for the firm in attracting new customers.