In a business world where digital transformation is the new mantra, they are forced to change their ways and adapt to the latest technology. While digitization has numerous benefits, it also comes preloaded with some drawbacks. Of the many risks of the digital transformation movement, cyberattacks are the most alarming.
Today, there has been an increasing number of cyberattacks, which will supposedly continue to grow unless businesses take action. These risks are escalating as organizations become more dependent on technology to function effectively in today’s digital age. Some of its many challenges are complete reliance on digital assets, customer data, intellectual property (IP), financial information, operational data, etc.
However, it is quite alarming how most service providers overlook when it comes to promising cyber security for their customers/clients. Continue reading this article to know more about what no one talks about in digital transformation.
The Birth Of The Digital Transformation Of Cyberattacks
This is not to say that cyberattacks have not been a massive problem in the past. In fact, they have been on the rise for years. However, today’s attacks are more complex and less predictable than ever before. They are also becoming more difficult to detect by traditional security measures like antivirus software and firewalls.
The digital transformation of businesses has also created a digital transformation of cyberattacks. These risks and threats are increasing in variety, severity, and frequency. That is why businesses are investing billions in cybersecurity measures today.
An Increase In Variety, Severity, And Frequency
Cyberattacks are increasing in frequency, severity, frequency, and sophistication. The number of cyber incidents is on the rise each year. In addition, the complexity of these attacks has also increased significantly over time.
These attacks can cause significant damage to businesses by compromising data or systems that provide critical services to customers and employees. These attacks can lead to lost revenue or even bankruptcy for companies with outdated technology infrastructure or weak cybersecurity measures.
Businesses with a robust cyber security posture are better equipped to defend against the most common cyber attacks, including ransomware and phishing scams. In addition, they are less likely to experience data breaches or other security incidents.
Businesses Lose Billions In Cyber Attacks
Cyber attacks can shut down a business, leaving thousands of employees without jobs and customers without products. In 2016, cybercriminals stole over $1 billion from businesses worldwide by targeting critical infrastructures like power grids and transportation systems.
Cybercrime has become increasingly lucrative for hackers because it’s easy to commit online. Also, victims often don’t always realize they’ve been compromised until it’s too late.
The risks of the digital transformation movement can be best combatted when you hire cybersecurity companies. These companies have adequate measures to battle cyber attacks and can help your company stay safe from hackers.
Cybersecurity companies work on several projects to protect your company from cybersecurity threats. Some of these projects include:
- Securing data storage systems
- Maintaining network security software updates and patches
- Updating antivirus software regularly so it can detect new viruses as they emerge
- Setting up firewalls to prevent hackers from accessing company servers and databases
- Monitoring the network for suspicious activity, such as someone trying to access your files without authorization.