Presented By: Electrical and Computer Engineering
Realigning Incentives for a More Secure Internet Ecosystem
Mingyan Liu, T.C.Chang Professor of Engineering
Professor Mingyan Liu is receiving the T.C.Chang Professorship. Reception to immediately follow in the EECS Atrium.
Abstract:
Many of the cybersecurity issues facing the modern digital society can ultimately be traced to an array of misaligned incentives. For instance, the vast majority of the cost of a data breach is not borne by the firm suffering the breach, but by the users and consumers whose data were stolen; similarly, the harm caused by software problems is, by and large, shouldered by consumers, not developers. Over the past decade, an overarching goal of my research group has been to develop innovative data analytics methodologies and policy ideas to help realign these incentives. Within this context, I will present our recent work in new approaches to quantifying cyber risk at an organizational level, quantifying the social cost of data breaches, and in developing mathematical models that capture the strategic interactions and decision making among parties driven by different incentives.
Bio:
Mingyan Liu is a leading expert in sequential decision and learning theory, game theory and incentive mechanisms, all within the context of large-scale networked systems and with applications to cybersecurity. Technologies she developed in this space have been successfully transitioned. She co-founded the start-up company, QuadMetrics, Inc., commercializing predictive data analytics her team developed for cyber risk quantification that resulted in the first global enterprise cybersecurity ratings system; it was acquired by the analytics software company Fair Isaac (FICO) in 2016. This technology has been used for enterprise risk management, vendor management, cyber insurance underwriting, and most recently, in augmenting Environmental, Social, and Governance (ESG) ratings. For this she received the “Crossing the Valley of Death” PI Excellence Award from the Department of Homeland Security in 2016.
Prof. Liu joined the University of Michigan, Ann Arbor, in September 2000, as an assistant professor in Electrical Engineering and Computer Science. She was the Peter and Evelyn Fuss Chair of ECE from 2018 to 2023, and has been the Associate Dean for Academic Affairs since 2023. She is the recipient of the 2002 NSF CAREER Award, the University of Michigan Elizabeth C. Crosby Research Award in 2003 and 2014, the 2010 EECS Department Outstanding Achievement Award, the 2015 CoE Excellence in Education Award, the 2017 CoE Excellence in Service Award, and the 2018 Distinguished University Innovator Award. She has received a number of Best Paper Awards and has served on the editorial boards of IEEE and ACM Transaction. She is a Fellow of the IEEE and a member of the ACM.
Prof. Liu received an MS degree in Systems Engineering and Ph.D in Electrical Engineering from the University of Maryland, College Park, in 1997 and 2000, respectively.
Abstract:
Many of the cybersecurity issues facing the modern digital society can ultimately be traced to an array of misaligned incentives. For instance, the vast majority of the cost of a data breach is not borne by the firm suffering the breach, but by the users and consumers whose data were stolen; similarly, the harm caused by software problems is, by and large, shouldered by consumers, not developers. Over the past decade, an overarching goal of my research group has been to develop innovative data analytics methodologies and policy ideas to help realign these incentives. Within this context, I will present our recent work in new approaches to quantifying cyber risk at an organizational level, quantifying the social cost of data breaches, and in developing mathematical models that capture the strategic interactions and decision making among parties driven by different incentives.
Bio:
Mingyan Liu is a leading expert in sequential decision and learning theory, game theory and incentive mechanisms, all within the context of large-scale networked systems and with applications to cybersecurity. Technologies she developed in this space have been successfully transitioned. She co-founded the start-up company, QuadMetrics, Inc., commercializing predictive data analytics her team developed for cyber risk quantification that resulted in the first global enterprise cybersecurity ratings system; it was acquired by the analytics software company Fair Isaac (FICO) in 2016. This technology has been used for enterprise risk management, vendor management, cyber insurance underwriting, and most recently, in augmenting Environmental, Social, and Governance (ESG) ratings. For this she received the “Crossing the Valley of Death” PI Excellence Award from the Department of Homeland Security in 2016.
Prof. Liu joined the University of Michigan, Ann Arbor, in September 2000, as an assistant professor in Electrical Engineering and Computer Science. She was the Peter and Evelyn Fuss Chair of ECE from 2018 to 2023, and has been the Associate Dean for Academic Affairs since 2023. She is the recipient of the 2002 NSF CAREER Award, the University of Michigan Elizabeth C. Crosby Research Award in 2003 and 2014, the 2010 EECS Department Outstanding Achievement Award, the 2015 CoE Excellence in Education Award, the 2017 CoE Excellence in Service Award, and the 2018 Distinguished University Innovator Award. She has received a number of Best Paper Awards and has served on the editorial boards of IEEE and ACM Transaction. She is a Fellow of the IEEE and a member of the ACM.
Prof. Liu received an MS degree in Systems Engineering and Ph.D in Electrical Engineering from the University of Maryland, College Park, in 1997 and 2000, respectively.
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