Our world is transitioning towards new world order. Our mode of working and its scope is different from previous generations. Most of our daily tasks and work are either digitized or will soon be digitized. There is lesser dependence on geography, humans, and manual labor. We are observing the phenomena of cloud storage database systems, online shopping, app development, etc., that have changed their outlook and function for the businesses and utility. Some of the examples of such modernization are modern companies that are not storing their data in physical files and instead use cloud computing. Similarly, automatic data collection of shoppers has eliminated the need for manual processing of their payments, etc.
The reasons for such transformations are the obvious advantages. Digital and Cyber solutions are speedy, thousands and millions of transactions are processed, and a massive amount of data can now be transferred in seconds. Similarly, comprehensive user interfaces and backlink operations have made such utilities easier and convenient to use for every individual or business. Additionally, digitization has expanded the horizon of possibilities. Today, businesses can hire and work with talents across the globe. Similarly, they can offer their services and products to a wide range of global customers.
However, such ease and expansion come with their own set of challenges, threats, and difficulties. Similar to their advantages, such hassles are also new for us. Data Privacy, Digital Exposure, and Exploitations are the buzz words around digital phenomena. And such difficulties are the threats to its very existence. Therefore, businesses are focusing consciously to eradicate or at least minimize these threats.
And due to such threats, there is a whole new industry and need that has emerged, i.e., Cyber Security. Cyber Security is the practice and scope to defend digital devices like computers, mobile devices, networks, etc. from malicious attacks. It is also called IT Security or Electronic Information Security. Cyber Security Industry is one of the most thriving industries of the 21st Century. As we discussed already, the stakes of data breaches and disorientation of the digital systems are high; therefore, there are many jobs and career paths that are opening in the cybersecurity field. However, since this field is comparatively newer, that’s why there is a shortage of talent. Hence, the demand for such professionals is high. One of the quickest ways to get equipped with such skills is to get enrolled in Online Masters cybersecurity program from a reputable university. In this way, you can get maximum outreach and possible placement as a Cyber Security Specialist for leading companies.
As we have discussed the importance and reliance on digitization, here are the possible reasons why cybersecurity is the growing need of the time ahead.
#1 Sophisticated and Motivated Hackers
With the growing spree of digitization, opportunities are also growing for hackers to breach and exploit such systems. Since now, the digital exposure of companies and businesses has increased in the form of their websites, external support systems, etc., there are many possible entry points and loopholes available for the hackers to breach.
Similarly, there is a bigger motivation for the hackers in the arena now, as hacking a sophisticated system of a larger corporation can bring big money and reputation too. There are many stories of sophisticated, planned, and well-funded cyber-attacks on big companies that have rocked the entire industry of cybersecurity.
#2 Damage and Price of the Breaches
Another bigger reason for the thriving cybersecurity industry is the costs that could be associated because of the breach or disorientation of systems. Any breach or cyber-attack can be expensive for a business in the form of data loss, product loss, or customer loss. Such losses can be the defining reason for business shut down. Besides such losses, there will be many redemption costs to reset the matters and get things going.
Also, in times when there are tough competitors in the market and lesser costs to replace the vendor, such breaches hamper the reputation of the business, as the business would lose the trust of the customers’ altogether.
#3 A Plethora of IoT Devices
Internet of Things or IoT is one of the biggest revolutionary technological advancements of the 21st Century. The future technological advancements are building and depending heavily to provide further ease and convenience to the world. It is a system where all computing and electronic devices are interrelated and connected. And they can communicate and transfer data with each other without the need of any human input or interaction.
On the exterior, IoT adds a lot of value to its consumers in terms of artificial intelligence, simplification, and ease of tasks. According to one of the biggest IT giants Cisco, there will be over 28 billion connected devices by 2022. However, there is one big catch in such a wide adaptation of these IoT devices. Such connected devices will increase the vulnerability of the security of the networks. There will be greater possibilities and opportunities for hackers to affect the whole plethora through just 2-3 hacked devices, and this possible exposure will only increase with the growing numbers of new device connections. That is why tighter cybersecurity controls and assessments are required to safeguard the IoT networks and systems comprehensively.
#4 Stricter Regulations
There are not only criminal or loophole threats that exist in the ecosystem but the regulatory risks too. There are many governments of various countries that are either considering or have introduced stricter regulations on IT companies or companies that store or handle consumer data or any other sensitive information. These regulations range from user permission for data access to maintain data privacy of consumers. And failure in complying with such regulations can put companies’ positions into jeopardy or heavy fines. Therefore, investing and focusing on cybersecurity is a much bigger priority of businesses around the world.
Many other possible reasons exist or might arise later with the further expansion of the IT sector and utility. But the prime factors that reaffirm the need for cybersecurity remain the same, i.e., consumer privacy protection and safe digital ecosystem.