Several organizations are now engaged in some process of digital transformation. But security has not been an concern in the process of digital transformation. Read on to know more…
Digital technologies are transforming the business world. Several organizations are now engaged in some process of digital transformation. As organizations look to digital transformation, they must look at security transformation as well. Large number of organizations are adopting Internet-of-Things (IoT) devices and moving more of their data into cloud environments. The advent of these technologies is also causing organizations to reimagine traditional security models and innovate new ways.
While the digital transformation presents a range of opportunities to today’s organizations, it also brings new challenges. Some of the most prevalent are the evolving security needs that come with expanding one’s digital presence. According to a survey by Fortinet, 85% of CISOs view security issues related to digital transformation as having a somewhat to extremely large effect on their organizations.
The digital transformation is altering security needs in some fundamental ways. Here are some of the changes to be aware of.
Over the years, cyber security attacks are increasing in sophistication through becoming asymmetric and less predictable. For instance, ransomware attacks have been added to the list of phishing, DDoS and social engineering attacks, while the methods used by cybercriminals are constantly evolving based on the use of advanced sniffing and encryption techniques.
Several businesses lack the resources, expertise and equity capital needed in order to cope with modern cyber-attacks. This is particularly the case with SMB (Small Medium Businesses) typically on the hunt for cost-effective solutions.
The potential for collateral damage due to a data breach or hacking is also greater than it has ever been. Data is extremely valuable to businesses today, and more devices are now internet-connected, meaning they could be hacked. An event in which a cyber attack disrupts some of these activities could have severe implications. For instance, the energy grid, hospital equipment and vehicles all now have digital components. Also, the more heavily an organisation depends on digital technologies, the more damaging an attack could be.
In the past, several businesses had contained networks and hosted all their IT equipment on-site. Some businesses, especially large enterprises or those that handle especially sensitive data, still do this. Most organizations, however, use some sort of digital applications and may host their servers in the cloud. This means that these organizations’ networks are not contained and have connections to the publicly accessible internet. While these networks should have protections that restrict access, the use of digital technologies does introduce the potential for hackers to break through these defences and access companies’ networks.
Advancements in technology such as the cloud, mobile, Virtual Reality (VR), Blockchain technology, Machine Learning, data science, quantum computing and more will continue to reshape how we work and live. The digital transformation is changing the way businesses operate. But this comes at a huge risk. The major change that technology has brought us is the constant threat of cyber attacks and security vulnerabilities. Without paying the right level of attention to cyber security, digital transformation can expose more interfaces to these threats.