UBS bank’s security CTO Chris Swan says businesses are not able to use the public cloud for all of their enterprise requirements. Swan: More likely that there will be a growth in industry-specific clouds. He said that in terms of cloud security, there was an urgent need to focus on application security. “Our spending is wrong at the moment. We are spending 80% of the money on 20 percent of the problem,” Swan said. He added that businesses should not be too worried about ensuring continuous availability of data.”]