The world renowned Gartner Security & Risk Management Summit on September 10-11, 2018 in London will have data security analysts and business leaders discussing the main trends in cybersecurity management, an important issue given the rapidly shifting temperament of the digital milieu. Six emerging trends that both business organisation and cybersecurity leaders might want to take note of are listed below.
1. Senior Execs Have Finally Caught On
Among senior business executives and stakeholders, awareness is now high on the far-reaching impact of cybersecurity risks on corporate goals. It is now widely understood how a breach in customer data, can singlehandedly bring down brand reputation. Yahoo! was discounted to the tune of $350 million when it sold to Verizon, because Yahoo! had a high-profile customer data leak in the past. Credit firm Equifax, suffered a massive breach of sensitive client data, resulting in the loss of employment for the company’s CEO, CIO, and CSO. There is now a newfound–although much belated–acknowledgment of the significant role of IT staff and security consultants among senior business leaders.
2. Safeguarding Customer Data Poses an Enormous Liability to Business Plans
Think of the recent Cambridge Analytica disaster. Properly safeguarding customer data can make or break your business. And the bigger the business and the more valuable the data, the bigger the liability is going to be. This means basic compliance to legal and regulatory requirements just won’t do; there must be a thorough understanding of possible risks involved in data storage and management.
3. Avoidance of Obsolete Data Storage and Management Solutions
Advanced business cloud solutions have real-time detection features and adaptive authentication models. Cloud delivery systems are rapidly evolving with the cyberthreats they are trying to dodge. More and more business stakeholders see how an outdated cloud solution can have disastrous consequences. Here at OKMG we use a cloud based digital asset management platform, HIVO, which is protected by an Australian cyber security firm that provides a 24/7 monitored service over all OKMG’s client assets and data.
4. Machine Learning for Simple Digital Tasks
Machine learning can be aimed at getting the most out of simple digital tasks. Your staff can now focus on escalated issues and complicated tasks that can’t be left to a machine-learning implementation. When selecting cloud service solutions that promise the world on machine learning, you might want to go beyond the marketing material. E.g. when the product package describes a cloud delivery system as being able to classify executable files, then you might want to ask exactly how that is being done.
5. Geopolitical Considerations
On top of conventional factors that influence cybersecurity buying decisions, geopolitical aspects are now seen in a new light. Chinese and Russian software and tech gear, for example, have been recently banned by the U.S. government. Geopolitics is therefore vital in the handling and management plans of your company and client data.
6. Digital Power Is Becoming Dangerously Centralised
The increasing sophistication of the cloud computing environment is just the tip of the iceberg that helps enable further centralisation of the internet, where major players such as Google, Facebook, and Amazon can wield any which way the vast consumer data they hold. Companies strategising their data management ecosystems must account for this emerging trend toward centralisation.
Big or small business organisations can’t afford to set aside digital security concerns. At the very least, business owners and leaders must be keeping tabs on cybersecurity trends, as well as the potential risks of the fast, efficient, and money-saving web-based data architecture. Here at OKMG we partner with a trusted managed cyber security firm that provides a 24/7 monitored service over our entire network and cloud infrastructure. This means our clients can work with our business and rest assured that there data is safe and secure, a minimum standard that should be offered by all media companies.