Maintaining a risk management system or protocols shouldn’t be a foreign concept in 2020. Modern business worldwide will spend some $131 billion this year, mitigating online risks. Interestingly, some $50 billion will go towards safeguarding endpoints, according to a Gartner report. The company’s latest risk management forecast provides an industry snapshot of the constant vigilance asked of responsible business in our tech era.
More than mere prudence, tight online security that detects and blocks data theft, malware infection or even remote coin mining has immediate and direct cost implications. Cloud security platforms are set to take a huge leap too, almost tripling their prominence as an emerging protocol. As data storage and management heads to the cloud, so too are antivirus and other protective measures becoming defined by remote processing.
For any business, and perhaps particularly SMEs who often lag in getting cybersecurity issues sorted, conducting and acting upon cyber risk assessments is a critical component of overall business risk management. Assessment is best directed by a knowledgeable third party, like an IT support consultancy similar to Mustard IT, to ensure the business is safe from both outside – and relatively unknown inside – threats to security.
Online criminality continues to grow, and the days of being able to remain obscure among the millions of entities floating in the ether are coming to a rapid close. Three years ago, half of US businesses had been hacked or threatened with ransomware, and that number will keep growing. Criminal fraternity players are thorough and constant. Sooner rather than later, they’ll find a weak online presence.
To that end, Artificial Intelligence (AI) and Machine Learning (ML) are becoming increasingly essential to cybersecurity, and as criminals are running their own AI in pursuit of targets, automated intelligence has become ..
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