Alphabet Inc. (NASDAQ: GOOGL) launched a new business unit called Chronicle that will sell cyber security software to Fortune 500 companies to gain a larger footing in corporate computing. This unit will use artificial intelligence to analyze massive amounts of data to detect cyber threats more quickly and precisely than traditional methods. However, Alphabet’s big cash pile and existing customer relationships can make Chronicle a threat to security tools vendors like Symantec, Cylance Inc., and Palo Alto Networks Inc. Currently, the global cyber security market is worth almost $100 billion.
In the past, a good number of internet search and networking firms have tried to make efforts to get into the cyber security business but have failed. Currently, Google is a distant competitor to Amazon in cloud computing infrastructure and is very behind in workplace productivity software after Microsoft. By using Chronicle, Alphabet can further expand their core online advertising business at Google and become a major player in enterprise computing technology.