Challenges And Opportunities Involved In Adoption Of New Technologies In Cyber Security Segment
Technology change has been beneficial to both organizations and its employees. The adoption of technology innovations by organizations has exploded over the last few decades with global spending on technology across all industries reaching an estimated to be several trillions of dollars. This growth had been in large part to the use of the internet which has increased by over 200% between the years of 2010 and 2017. In general, technology change can bring increased efficiency, improved quality, assist in bringing products to market quicker and expand the skill set of employees’ and most importantly new line of business that Strategy wouldn’t thought of in past several decades. Technology can also bring benefits such as improved communication, reduced costs and help foster new innovations. Rapid changes in the economic landscape of today’s business environment require action to meet customer expectations. Failure to stay current on customer needs and market changes could result in the loss of any competitive advantage an organization may possess. Additionally, keeping current on the latest technology could allow an organization to seize any possible opportunities that are not being filled by a competitor.
While the benefits for business are enormous, any technology adoption comes with freebies of risks and security threats.
First the New technology should be a right fit into the business and embedded in to the process. If the right fit is not ensured the sustenance will be at large risk.
New technology while adopting create internal conflict in an organization. They are such as managerial, technological, sociological and economic related. There are several attributes of conflicts and they are usability, interoperability, common business views, agility, scalability, reliability, openness, manageability, infrastructure and security. Here Security assumes major role.
Privacy risks: protecting the privacy of data is (or should be) a key concern for any business. Customers value their privacy and the protection of their personal sphere of life. They value some control over who knows what about them. They certainly do not want their personal information to be accessible to just anyone at any time. But recent advances in information technology threaten privacy and have reduced the amount of control over personal data and open up the possibility of a range of negative consequences as a result of access to personal data. For example, security breaches of future transport systems could lead to cyber criminals being able to track passenger and vehicle location, access bank account details (as used to top up smart card balances) and monitor passenger travelling habits.
Risks in connected manufacturing: Industry 4.0 and smart manufacturing are the recent buzz words in manufacturing. Internet enabled devices are expected to continue their momentum in 2018 and connect more and more devices in the factories. IoT devices present some very serious security issues. Most IoT devices were never built to withstand even very simple cyber-attacks. Most IoT devices are unable to be patched or upgraded, and will therefore remain vulnerable to cyber hacks or breaches. If not handled properly, Smart manufacturing may land in wrong hands and be a major threat to the business and if compromised, IoT devices with security vulnerabilities can result in a range of issues, such as a simple denial of service, privacy compromises, major infrastructure failures, or even death. For many organisations manufacturing methods and good practices are knowhow.
AI: while AI is providing benefits in many areas, it is anybody’s guess that AI can make hacking more sophisticated, may spread misinformation and propaganda. AI has been reported to have been used to fabricate audios and videos of political figures that look and sound like the actual people in an effort to sway public opinion. And the risks of misinformation being used to harm organizations in the business world are just as great as in the political arena.
Going Cloud: As more and more businesses and operations move to the cloud, cloud providers are becoming a bigger target for malicious attacks. Distributed denial of service (DDoS) attacks are more common than ever before. IT professionals have had great control over the network infrastructure and physical hardware (firewalls, etc.) securing proprietary data. In the cloud (in private, public and hybrid scenarios), some of those controls are relinquished to a trusted partner. Choosing the right vendor, with a strong record of security, is vital to overcoming this challenge. When business critical information is moved into the cloud, it’s understandable to be concerned with its security. Losing data from the cloud, either though accidental deletion, malicious tampering or an act of nature brings down a cloud service provider, could be disastrous for an enterprise business.
Summary: As data breaches continue to pose a threat to any emerging technology and exist in any business be it Healthcare, Finance, Manufacturing, Services or any, appropriately adopted cyber security policies and practices will become the essential ingredient in making breaches irrelevant and allow the organisations to exploit the benefits of new technologies and prosper.
While planning for adopting any technology in an organisation, it is essential that Security risks are adequately analysed and mitigating strategies are put in place before new technologies are institutionalised.