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Exploring the Future of Cybersecurity: A Rising Concern for Many Businesses?

My friend likes to believe that she is safe in matters of ‘cyber-attacks.’:

– All I have to do is use a strong and secure password, she innocently told me.
– How hard and secure is your password then? I was eager to know.
– Well, I can’t remember it. It is that hard and secure!

Jokes aside though, our nations continue to face a growing security challenge. No, I am not talking about war crimes (even though that still stands). Cybersecurity continues to increasingly be a concern for many institutions, and businesses are no different – yours included. Looking at emerging technologies, your cyber woes might be getting closer than you think Many businesses are looking to consider these implications and put their money where their security is.

Growing Concerns

Emerging Technologies and Cyber Threats

The growth of smartphone users over the past few years have led to the growth of mobile malware. Ever since, these malicious software are getting more complex, according to a research by Bendovschi. This complexity is what makes it hard for businesses to keep up and end up being victims.

  • Brute forcing: This has to be the most natural way of compromising someone’s data out there. Some random guy systematically tries to guess your information and credentials (say, a username or password), until they get a correct one. One source claims a recent study shows that 6% of successful network intrusion in 2021 was a result of brute forcing!
  • Phishing: “It won’t hurt to open one little link, right?” You might have to think twice about that. Phishing is a type of cyber-attack where an attacker disguises as a trusted entity and steal your data. In fact, this is one of the most, if not the most, cybercrimes out there, with over 3 billion phishing emails sent everyday globally. That is emails only. God knows how much counts for social media and text messaging platforms! 
  • DDoS:  Distributed Denial of Service is an attempt in which the attackers make online services or resources unavailable to the intended users.  In this attack, a victim’s network is disrupted and data availability is compromised, making systems inoperable.
  • Man in the middle: Sometimes an attacker might place themselves in the middle communication and have access to sensitive information from one point to another, which inevitably leads to unauthorized access. Since the user has no idea there is someone else listening on, their usernames, passwords, bank details, and other sensitive information might be at a high risk.

“…Your cyber woes might be getting closer than you think!”

All these and many other types of attacks are raising concerns for businesses to understand that they need to protect themselves, if they are to prosper in this digital era.

Skills Gap

As the cybersecurity threats keep increasing, so is the demand of strategies for businesses to cope. So, there is a need for more workforce equipped with a growing range of skills, than ever. Businesses can consider upskilling and reskilling their workforce more creatively and brush up on their current efforts to keep up with the trend. It can then be helpful to expose everyone to comprehensive relevant training in the field. Another possible strategy would be to diversify the talent in this field, because the more diverse the cyber workforce, the more likely competitive talents will be onboard to fight the bad guys. Now, while all these strategies might look fancy and exhilarating; it is important to see how challenging many businesses might still find it to afford them (stick to around, there is a resolve for that!).  

A Look into the Future: Possible Business Implications

  • It is a real investment: Keeping up with cybersecurity needs is a big investment. Businesses need to invest significant resources in cybersecurity measures, such as firewalls, intrusion detection systems, and employee training. These costs can impact the company’s budget and profitability.
  • There are many regulations: Data policy establishment is no longer an option, but a must nowadays. What that means is that user’s information is a property to keep an eye on just like others. Many industries have regulatory requirements for cybersecurity. Failure to comply with these regulations can result in fines and legal action.
  • It will get more sophisticated: Cyber criminals are stepping up their game by becoming more skilled, cunny, and employing more advanced techniques to break into our systems. Sadly, we only have to accept the fact as much as we wish this nuance to end soon, it will not. The businesses are required to invest resources to more advanced security measures and defend their beloved efforts.
  • Is it Worth It: While there is a cost associated with investing in cybersecurity, the impact of cyber-attacks is always far greater. It is therefore essential for businesses and individuals to take necessary steps to protect themselves in this critical aspect of their operations.

Genesis 360’s Information Technology Services Is A Solution.

We have an IT Division that can help by providing everything from email support to cloud backup services and everything in between. We provide Network Monitoring Services, Data Backup and Restoration, Cyber Security Protection Services, and Network Firewall Installation; to name a few. Make use of our well-tested and impactful Cyber Security Services.  We ensure your data is efficiently protected from cyberattacks by using the latest network monitoring and firewall technologies.

Written By Innocent BYIRINGIRO and Reviewed By Deshina Buck of Stratinuity LLC


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