The global internet outages tied to a recent software update from CrowdStrike (CRWD) has raised alarm bells across industries worldwide, leading to large-scale disruptions for banking services, airline operators, and emergency medical providers.

Kaseya CEO Fred Voccola joins Market Domination to give insight into the incident with CrowdStrike and the scale of its disruption to industries worldwide.

These events may cause businesses to reflect on their reliance on CrowdStrike, which some analysts have pointed to as being either "too critical" to give up or a turning point in how businesses view the consolidation of tech services to a select few.

"I do think it's going to raise a call for a little more awareness, a little more governance about how companies like Kaseya and CrowdStrike operate. I mean, the impact that companies like CrowdStrike and Kaseya have, the net impact is incredibly positive," the IT and cybersecurity chief executive states. "Without people like Kaseya, CrowdStrike, these systems wouldn't be available because they'd be ransomed and they'd be hacked and there'd be a lot worse things happening."

Voccola follows that sentiment up by underlining this point: "But there is always the risk of mistakes. Human beings do it. So I think this is something that the entire industry. CrowdStrike, Kaseya, Microsoft (MSFT), all of us, we need to look at and make sure that we're on top of and doubling down on the efforts to avoid any element of a human error."

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This post was written by Nicholas Jacobino

Yahoo Finance extensively covered the CrowdStrike incident throughout the course of the day:

Explainer: How CrowdStrike knocked the world offline

Global tech outage: Microsoft VP explains what went wrong

CrowdStrike update leads to global outage: Industries affected

CrowdStrike shares fall more than 13% as global IT outage grounds flights, cuts off 911 access

CrowdStrike 'too critical a tool' to cast off after outages

CrowdStrike still reputable, blowback will be short: Expert

IT outage opens questions about consolidation in tech: Analyst

Global tech outage disrupts businesses, flights