New threats are popping up constantly, creating a never-ending game of security whack-a-mole.

There are new highly sophisticated attacks that insert themselves below the operating system and can steal all a device's data before wiping it clean. Ransomware is on the rise, in which a criminal steals data or takes control of a computer or mobile device, only releasing their hold when they receive payment. A new attack called Blitzkrieg uses phishing schemes to install a Trojan, which monitors web traffic and scrapes banking information in order to transfer money out of the victims' accounts.

In order to address all these threats, Fey said, the industry needs to rethink security from the ground up, designing more secure products from the start instead of just constantly chasing threats.

"We have to take some of the most complex security issues and simplify them into easy-to-solve problems," he said.