Former New York City Mayor Rudy Giuliani announced on "Fox and Friends" Thursday that he will be heading up a new cyber security committee for President-elect Donald Trump.

The committee is set to meet with Trump on a regular basis to bring together leaders of the private sector to share their thoughts on the best cyber security methods.

"It's his belief, which I share, that a lot of the solutions are out there. We're just not sharing them. ... My belief is, as always, that the answer to cyber security is gonna be found in the private sector," Giuliani said.

Giuliani: What's Wrong With Trump Putting Successful People in His Cabinet?

Trump at News Conference: New Report on Russia Ties Is 'Fake News'

'You Can't Unring the Bell': Why Did Buzzfeed Publish Unverified Trump Dossier?

Giuliani said the group's creativity and access to funds will help them develop cyber security solutions.

"The idea here is to bring together corporate leaders and their technological people. The president will meet with them on an ongoing basis as well as anyone else in the Administration. ... I'll coordinate the whole thing. I'll get the people in, make sure the meeting takes place, make sure they get the information from the private sector."

Another benefit of the committee, Giuliani said, is that Trump gets to see what the private sector is doing in an organized way.

"Here's what happened to us: Acquisition of information got way ahead of our ability to defend it," Giuliani said as the reasoning behind the formation of the committee.

Share your thoughts with us on this new measure to improve cyber security.

Judge Nap: Relinquishing Control of Businesses Places Trump's Focus on Running US

Hannity Praises Trump for 'Beatdown' of Mainstream Media at Presser

Goldberg: Too Many 'Chuckleheads' Give More Credence to 'Fake News' Than Real News