In the advancing digital world (i.e. future of business), it is of utmost importance to address cyber security vulnerabilities and threats to obtain the best possible outcome from digital technological investments.
Increasing implementation of emerging technology such as 5G, autonomous vehicles, Internet of things (IoT), cloud computing, and AI has increased the complexity of cyber challenges faced by organizations. Threats are now more sophisticated and are evolving at a pace faster than an organization’s coping mechanisms. This requires organizations to revisit their existing security controls and adjust them to new cyberthreats.
Organizations need a proactive and pragmatic approach to manage risks and security concerns. The ‘security by design’ approach will help organizations establish an ecosystem of trust and ensure cybersecurity risks are continuously managed and monitored.
A certain level of automation and advanced algorithms needs to be introduced by an organization across processes such as 24×7 security operations, threat intelligence, identity management and code reviews to improve detection and response while reducing cost.