Cybersecurity is an integral part of modern business. It’s also constantly changing, evolving with the cyberthreats it is meant to combat.
From being a solid defensive wall protecting an organisation’s digital assets, cybersecurity today is best imagined as a rapidly shifting arms race between cybercriminals and the IT specialists who must combat them.
The war is waged between individuals, but also between AI- and ML-enabled weapons, constantly being refined and updated as the battlefield shifts.
While there’s no denying that online connectivity has revolutionised our world. It brings people, communities and organisations together, powers entertainment platforms, and enables remote education and healthcare.
These advantages are a double-edged sword; they come with an ever-present threat of cyberattacks and data breaches. Cybersecurity is no longer optional. As our lives become increasingly digital, protecting data and systems from attacks is paramount.
Securing digital assets
Cybersecurity is the protection of enterprise digital estate, including data, identities, applications, networks and cyber and connected physical infrastructure against cyberthreats. Its purpose is to prevent online attacks on computer networks and online servers, and to safeguard the assets of individuals, entities, and organisations.
Organisations understand the critical importance of cybersecurity, and it is expected that the information security and risk management market will reach $314-billion in 2028.
The move towards a digital society has also brought a growing acknowledgement that an organisation’s cybersecurity strategy must go beyond compliance. Cyber-assets are not just vulnerable to the odd malware virus that temporarily limits functionality.
Growing cyber-risks
The modern business landscape is infested with countless criminal syndicates, many of which have sophisticated cyber knowledge, and are committed to the illicit acquisition of digital assets. Once acquired, these are then monetised through corporate espionage, ransom, or even content piracy.
What’s more, cyberattacks are becoming more common. The South African Banking Risk Information Centre reported a 22% surge in cyber-attacks in 2023 in this country alone.
“Preparing for cyberthreats is no longer a choice, it’s a necessity,” says Ganesa Subramanian Vaikuntam, vice-president & BG head for cybersecurity at Tata Consultancy Services (TCS). “Businesses need to uplift their cyber resilience, so that they can plan and respond to attacks in a responsible way that ensures the continuity of their operations.”
With more companies looking at ways to conduct their business operations online, the need for robust, effective cybersecurity is paramount if we are to build a safe, secure global economy.
A comprehensive approach to security
The collaborative global mission against cyberthreats must take a holistic, secure-by-design approach to strengthen security throughout an enterprise.
Spending on identity, network and endpoint security is expected to grow by 24% over the next five years. This growth will further ensure that security teams are stronger and better equipped in their cybersecurity battles.
As more devices are connected to help power online networks, every one of these machines becomes a potential access point for hackers and cyberterrorists. Thus, in a collective global endeavour to safeguard the future, efforts to combat hackers must be a part of a coordinated, collective effort on a global scale.
These global efforts must deploy artificial intelligence tactics, as AI is already being used in cyberattacks.
Fortunately, in the cybersecurity arms race, specialised cybersecurity professionals usually have the expertise and the resources to protect the assets in their care. Knowledge and security strategies are constantly being updated through investigation, AI-based monitoring and intelligence gathering. But it is a hard-fought battle.
Gaining the upper hand in the cybersecurity war requires constant innovation, creativity, and strategic evolution. The war will not be won overnight, but with commitment and dedication, we can ensure resilience in the global systems that underpin the digital assets of modern society.