Why is Cybersecurity so Important?

Sep 16, 2020
4 min read

Why is it more important than ever?

Cybersecurity is the practice of securing data assets and other practical pieces of information from various attacks conducted by cybercriminals. The applications of the cybersecurity extend to computer systems, networking as well as cloud computing systems. The ultimate goal here is to protect the electronic data from being stolen, manipulated, or provided unauthorized access to stop its disruption at all costs. Cybersecurity is an evolving discipline, and it is more important than ever now. Why? Because the intensity at which cyberattacks unfold has doubled in magnitude.

Saturation of cyber-attacks and their consistency

Various researches conducted around the world settled on the issue that there is a cyber-attack every 39 seconds. Every 39 seconds, a hacker or a group of cybercriminals engage in this malicious activity of stealing corporate information and manipulating their systems for their personal or political gains.

The business has gone fully mobile.

The only way to properly battle cybercrime is to protect internet devices such as mobiles, laptops, or even cloud systems from being manipulated by these potential hackers. In today's world, the private cloud has provided the digital industry with the best possible arsenal to customize its business operations. It has left a big enough void in the security of such systems, where everything is mobile and connected to the internet, requiring more caution.

The internet of things

IoT is the most trending technology there is. Smart devices can sync with the internet in real-time and interact with each other at the same time. It makes these devices more and more vulnerable to cybercrimes, and it is their precious data at stake.

Increasing impact of cybercrime

Businesses worldwide face almost 4000 different hacks every day, and most of these are ransomware attacks demanding money or ransom in exchange for the data being held. It is a complete cycle that is cybersecurity. Professionals try to develop such systems and technologies that can strengthen their defense against consistent cyberattacks while cybercriminals simultaneously up their game and bring an even stronger and vicious strategy to hurt the organizations and defeating them at their own game. It is the cause and effect of cybersecurity and cybercrime embedded into the same fabric.

With certain advancements within the cybersecurity domain such as artificial intelligence and machine learning, new and improved systems are being designed to combat cybercriminals upfront. But at the same time, hackers and cybercriminals are also using these technologies to beat cyber-defenses using AI and ML against them. The impact of cybercrime is vicious and unnerving. Not only are jobs at stake, but economic growth and business industry are at risk. IoT is the common element. The world needs to understand that if they do not try to tackle the problem at its core and cybercrimes continue to occur without a check and balance, we will soon be returning to the dark ages.

With phishing, social engineering, and ransomware attacks dominating about 62% of the business community worldwide and the costs to counterfeit the circumstances reaching $3.9 million for small businesses, cyber-crimes are a real issue that needs to be taken seriously.

Protect your organization against cybercrime

According to a report from the Center for Strategic and International Studies, the cost of cybercrime was estimated at around $600 billion worldwide. And cybercrime has been on the rise ever since. According to a few CSIS professionals, "Cybercrime has become the new trend of the illegal business conducted across the worldwide web by hackers, and it is still on the rise. Why? Because it is just too rewarding, and the chances of being caught or punished are perceived too low."

This means that organizations and businesses conducting their operations over the online forums are at a greater risk than ever. Swift action should be taken before it is too late. The following are a few precautions that you can take to protect your organization from cybercrime.

Expect attacks and prepare

You can't assume that it won't happen to you because it is happening for other people and businesses. Cybercrimes and breaches are real, these hurt businesses, jobs are lost, and significant losses are incurred. In the wake of this, you need to expect cyber-attacks for yourself and prepare against them.

Train and educate your staff about cybercrime

The most driving force behind cybercrimes are the organizations; if your staff can't differentiate between phishing emails or normal ones, you are at risk. To eradicate this fear, you must train and educate your staff. Make them go through intensive training and workshops so your internal defenses can't be weakened with social engineering traps and phishing emails.

Regularly update your infrastructure.

Many organizations take severe hits by cyber-attacks as they don't make updating their security systems and configurations a priority. This is why they are always at stake. Not updating your Antimalware and Antivirus systems means that you are willingly leaving your defenses unguarded and welcoming hackers. Set your priorities straight and make updating your infrastructure a priority.

Future of cybersecurity

It can be said without a doubt that the future of cybersecurity is bright. Over the past few years, cybersecurity has been evolving at a consistent pace. With advancements in technology, artificial intelligence and machine learning have become the new favorite trend among the digital markets.

Artificial intelligence provides a more direct approach to solving computing-based problems, providing agility, and the processing power businesses of the future require. It is not that far when it would become the core component of all cybersecurity systems and machine learning, as its subset will start to dominate areas where data processing and extracting insight from raw data are the most enticing factors.

Other than that, organizations making better use of cybersecurity-related resources would have to unite to face the ever-growing cyber-warfare threats. There would be a sudden shift of attention towards preventing data systems from digital intrusions. Finally, there would be more and more hackers required to develop systems and practices to keep the cybercriminals at bay.