In the past, students had to drill down libraries to unearth the study material. It took a considerable amount of time as well as labor. The modern-day generation of students is fortunate. They can access the relevant notes in the blink of an eye just by tabbing a few times on their mobile screen.
Likewise, businesses had to spend a fair proportion of the budget to market their products and services appropriately. As a result, due to the lack of resources, small companies could barely compete with multinationals. However, giant corporations don’t enjoy the same monopoly anymore. Because technology has brought many cheaper ways for small businesses to promote themselves, these are just a few examples of how technology has changed our life for good and for bad.
Lately, cybersecurity has emerged as a global concern. Many influential companies have been left helpless in the face of data breaches. Apart from organizations, hackers also target individuals and use confidential information as a tool for blackmailing.
Let’s talk more about the growing importance of cybersecurity in the ongoing era of information technology:
- CYBERATTACKS ARE CONSTANTLY INCREASING
A few years back, data theft incidents were a rarity. We would hear about them once in a blue moon. But they have now become quite commonplace. Cyber attacks first started making headlines in 1980, and, from then onwards, they have always recorded an unbound increase. Hackers are particularly active when the world is collectively undergoing a crisis. For example, the number of hacks has gone up during COVID-19.
But the silver lining is that the number of ethical white-hat hackers is also surging due to the growing online masters cybersecurity programs across the world. They are experts when it comes to identifying and rectifying potential weaknesses of hardware and software.
- HACKERS ARE WELL-EQUIPPED
IT experts are engrossed in creating a defense mechanism to keep cyber malpractices at a safe distance. But, by default, they are also coming up with tools that may make the job easier for hackers. There are many turns and tricks readily available on the internet. So even a less-skilled cybercriminal can gain substantial expertise.
- PEOPLE ARE FREQUENTLY SHARING SENSITIVE DATA ONLINE
The internet and mobile phones are readily available in almost every nook and cranny of the world. It is the primary reason for sharing so much personal information online. For example, when you download an application, you oblige to the terms and conditions of the developer, which could be very manipulative sometimes. But since the majority of us don’t bother reading, we end up sharing our data with potential hackers.
In some cases, hackers directly approach individuals through social media or email. They entice people in one or the other way and ask for the bank and credit card details. Triggered by greed, many novices eventually fall into the trap. Indeed, users have become smarter over time. But hackers keep finding different methods to trick people for revealing their private info. There is no way we can deter this threat other than jacking up cybersecurity.
- INTERNET OF THINGS (IOT) TECHNOLOGY IS ON THE RISE
Broadly put, these are the devices connected to the internet. This technology has been on the rise for quite some time, and today we have more smart devices than ever. Air quality monitor, voice assistant, smart lock, and doorbell cam, to name a few of them. A study shows as many as almost 70 percent of IoT equipment is insecure.
From the safety standpoint, these numbers speak volumes about the vulnerability of IoT. According to a careful estimation, we will have about 27 billion internet-driven devices by 2021. It goes to show that the security issue is likely to loom around the horizon in the future. Again, improved cybersecurity is the only way we can keep cybercriminals in check.
Several business owners can foresee this challenge. That is why they are expanding their cybersecurity budget to prevent cyberattacks. Statically speaking, the money spent on cybersecurity is going to cross the threshold of 42 billion dollars by the end of 2020.
- DATA BREACHES ARE EXTREMELY COST-RIDDEN
For any business, a data breach could have many consequences. For example, the company’s reputation will decline sharply, and customers will have a hard time trusting it again. Apart from the reputational damage, a cyber attack may be financially devastating. According to a well-documented report, a single security breach costs a staggering £2.95 million. If you run a small business, in all probability, one cyberattack is likely to prove catastrophic. Guess what, hackers are fond of targeting small enterprises because they are typically less secure.
- MOBILE DEVICES ARE BECOMING COMMON
Almost 3.8 billion people own a smartphone in 2020. That amounts to nearly half of the world’s total population. Following tech-experts, the number will grow in the coming years. We can go on and on, mentioning the benefits of mobile devices. But perhaps their most significant shortcoming is that they quickly lose and thereby making them vulnerable to a data breach. Protected by a robust cybersecurity system, no one would be able to abuse the data of your smartphone or tablet.
THE CONCLUDING REMARKS
Of late, the topic of cybersecurity has attracted a lot of attention. Because we are fast moving in the direction of the digital world and, therefore, can’t afford to stay vulnerable in the face of hackers. That is why no one can deny the significance of cybersecurity.