The spell of cyber threat
Industrialists around the world show concern about a potential war, that might be fought on cyber security grounds. Is cyber security that serious? Companies in the current scenario seems vulnerable to cyber-attack. According to secondary market research, India is the fifth most vulnerable country in the world in terms of cyber-attack. Due to liberal cyber laws and most of the cyber crimes not being reported, it makes the issue more complicated and bigger.
Acceptance of cyber security
Cyber security was introduced to the world of technology with a hope to protect the network, program, computer and data from unauthorized access, that focus on disrupting the entire system. With the potential danger of cyber security looming large, organizations embraced artificial intelligence (AI) driven cyber security, especially, the banks and financial institutions since, the financial institutions are always under the radar of hackers. Infact, a cyber attack against the financial institution of a nation can jeopardize the entire economic structure of that country.
India as a country is embracing digital economy through the initiatives such as digital locker, digitized payment gateways etc. This has guaranteed a steady economic growth for the country ensuring greater investments, new jobs etc. With digitalization of the economy, more private and public data are stored enhancing the chance of cyber-attacks.
Need for cyber security
Carving cyber security policy has become a priority for most nations. In the best of interest, cyber security caters to a large pool of users starting from ICT users, home users, private companies, Government enterprises and so on. The basic requirement of such stringent policies are to protect data, information and networks from exploitation by cyber criminals.
Is cyber security absolutely necessary?
The boom in digital era quantifies vulnerabilities and risks. Hence, starting from personal details to confidential data all are secured through AI. It is necessary to establish a secured environment for storing and sharing of information. Security breaches, hacking, use of ransomware and malicious software are part of cyber risk associated with internet usage. When sensitive information or personal or financial data of both individual and organization is compromised, it leads to serious consequences. Hence, cyber security is essential to protect data from exploiters.
Cyber security orientation
The increase in the number of cyber crimes in the recent past, proves the requirement to spread awareness about cyber crime and the security allied with it to safeguard against hackers. A mobile device, if infected, can corrupt an entire Wi-Fi-network. Infact, it won’t be incorrect to state that, the threat of frauds are outsmarting enterprises’ defense. Hence, organizations are focusing and investing more on cyber security and orienting employees and customers with the same.
Data theft for example can be prevented through using pop-up blockers, by avoiding third-party installations and by using reliable anti-virus software. Familiar risks can be avoided through awareness programs. Big data with an unconventional structure is prone to cyber-attack. Hence, updating software versions and maintaining basic security hygiene can help in this scenario.
Necessity vs indulgence
Apart from trained security experts, Government interventions are also required at times to minimize the risk linked with cyber space. The cyber security can ensure protection to an enterprise increasing its productivity in the long run. Hence, we can conclude that cyber security is necessary for successful operation of any business.
– Kathakali Basu