It’s hard for small and large enterprises to be adequately protected against cyber criminals and the ever-increasing cyber threat if they don’t have a comprehensive cyber security program in place.
Research estimates that there will be more than 25.4 billion IoT devices in 2030, up from 10 billion in 2021.
Organizations are facing major problems related to the proliferation of connected devices, remote workforces, and the widening cybersecurity skills gap, just to name a few.
It’s hard for small and large scale businesses to adequately protect themselves against cyber criminals and the ever-growing cyber threat if they don’t have a comprehensive cyber security program in place.
Why is cybersecurity important?
According to Gartner, a corporation’s cyber assets are protected by people, policies, processes, and technologies. In recent years, it has been crucial to the success of any enterprise.
Are you a business leader who has yet to understand why cybersecurity is critical or why it belongs in your IT strategy? We’ve provided you with a list of some of the most common reasons behind cybercrime so that you can consider them – and why you should put in place a formal cybersecurity program with stringent controls and procedures as soon as possible if you have not already.
There has been an increase in the volume and complexity of cyber attacks.
Business leaders should take an aggressive approach to cybersecurity because of the large number of cyberattacks. Every day, around 30,000 websites are hacked, a company is victimized by a cyberattack every 39 seconds, and over 60% of global organizations have been subject to at least one kind of cyberattack.
It is not a matter of if but rather when an organization will be affected by a cyber attack to some degree, given these statistics. Furthermore, cybercriminals are becoming increasingly sophisticated. They are altering who they target, what they seek, and how they approach various technologies and systems.
The motivation behind a cyber attacker’s choice of attack is also becoming difficult to forecast. According to Verizon’s 2020 DBIR, 70% of breaches were caused by outsiders, 45% involved hacking, 86% were financially motivated, 17% used some form of malware, and 22% involved phishing or social engineering.
Attackers are increasingly targeting unsuspecting victims by leveraging popular platforms such as social media to carry out their assaults and gather sensitive data.
Innovation is a sign of technological progress.
The importance of cyber security in today’s fast-paced business world cannot be downplayed. Corporations need to safeguard their tools and technologies, as well as the private data they generate, from cyber threats like machine learning and artificial intelligence. Society must safeguard against future cyber threats.
Even though these innovations are altering the intense cyber threat environment, they are also transforming the way companies conduct business. A good example of this is AI-based cybercrime. Using this technology, cybercriminals can study email and social media messages to learn the subtleties of a trustworthy person’s behavior. Using bots, these criminals can then mimic their behavior and language to craft messages that appear highly authentic to obtain personal information.
It can be very difficult for corporations to defend against AI assaults because they are more powerful, constantly changing, and able to strike a wider range.
Are you unsure where to begin with your cybersecurity?
A change to the cloud.
The continual shift to cloud services is yet another reason why cyber security is so important. Whether to facilitate business processes, store customer data, bolster their remote workforce strategy, or for some other reason entirely, most companies today use the cloud in some capacity.
Although there are many security benefits to using a cloud environment, there are also security risks—especially if the environment is not properly secured.
Nearly a third of cybersecurity professionals reported that over a quarter of organizations (27%) had experienced a public cloud security incident in a survey. Even though cloud misconfigurations topped the list as the most common security-related incident, exposing data by user or account compromise surpassed it.
It is crucial to ensure that all cloud instances and workloads are configured properly and that necessary security controls are in place to protect critical business data and applications residing in the cloud as cloud computing solutions continue to grow.
Business Operations are Impacted
According to IBM, data breaches cost an average of more than $4 million, and cybercrime can be detrimental to an organization.
There are also long-term costs to consider following a data breach—which can last for months to years and include significant expenses that companies are frequently unaware of—including lost data or intellectual property, business disruption, financial losses from system downtime, legal liability, identity theft, reputation damage, or business closure.
Get started protecting your organization today!
The points mentioned above should answer the query, “why is cybersecurity so crucial?” and emphasize how vital it is for organizations to adjust to the ever-changing danger landscape.
Organizations can take several actions to protect their users and company assets from cyber threats, but a few that can be implemented to immediately bolster IT security posture include:
Inevitably, organizations without strong cyber defenses will be the ones most at risk of data theft and breaches, as cyber threats become more unpredictable.
Now is the perfect time to get started on developing a robust cybersecurity program if your company has not already done so. Savin Technologies can provide the right assistance.
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