Council Post: Cybersecurity As We Know It Is About To Change - 0 views
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the global cybersecurity market is set to increase to $270 billion by 2026. This signals the priority boardrooms have placed on cyber risk management even as digital transformation takes place en masse.
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Virtual desktops emulate a computer system so that IT can control access as such adding input/output devices as well as software and applications. This could become an important control point when remote workers are operating outside the safety of a corporate network.
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With swift digitalization, security controls will shift to data sources, similar to the trend witnessed in IoT.
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With millions of employees working from home, hackers’ focus has shifted from enterprise to remote working individuals. To handle the menace that exists in cyberspace, decentralized cybersecurity will rise where greater emphasis will be placed on data sources such as actual remote employees themselves.
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User access controls have largely revolved around single or two-factor authentication. These methods rely on “something you know (username)” and “something you have (password).”
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This means identity protection will be a top priority, and the best defense should involve building authentication systems that focus on “who you are.” This would require advanced biometric solutions such as fingerprint/thumbprint/handprint, retina, iris, voice and other facial recognition technologies.
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The current state of privacy regulations is designed around the enterprise network and building the proverbial wall to keep sensitive data out of prying eyes.
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With the remote working concept taking center stage, re-evaluation of these policies is needed to address the new cyberthreats.
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From a risk management perspective, global privacy policies will need to encapsulate standard operating procedures regarding BYOD, GDPR compliance and state privacy laws.
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The shift to cloud services offers employees, customers, suppliers and everyone else across the ecosystem a seamless and frictionless way to access data and applications. Remote access by various users would compound security challenges and present many new potential attack vectors. In the post-pandemic world, IT resources could shift toward data, particularly keeping data secure across cloud platforms.
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This will facilitate cybersecurity teams to apply varied access controls and demarcate data storage to minimize the risk of cyber intrusion and data breach.
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Innovative technologies such as ML/AI and AR/VR will see greater adoption. As we have already witnessed, video conferencing applications will continue to rise as non-contact interactions surge.
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Sectors such as retail, hospitality and manufacturing will layer their adoption of robotics with added AR/VR capabilities.
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Cybersecurity teams that are saddled with an events-based approach will be overly burdened with triages when a cyber breach occurs. By embracing an intelligence-driven approach, businesses can digitalize confidently with external threat intelligence as the guiding beacon.
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Social engineering techniques to trick untrained and unsuspecting employees, third parties and contractors into releasing confidential information or letting an intruder into a corporate network will also intensify accordingly.
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Cybersecurity awareness training for people across the entire supply chain and ecosystem will prevail.
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By 2026, the investment in cybersecurity will increase to $270 billion globally. After the COVID-19 pandemic companies will need to reevaluate their cybersecurity systems to adapt to telecommuting as many companies will have some of their employees working from home. Biometric security such as a fingerprint or iris scan will become more common as the typical password will no longer be as secure as it once was.