Not long ago, the corporate world was enthralled with the promise of digital transformation. But in the midst of the digital revolution, people were paying less attention to security than they probably should have. The business advantages of digital transformation may be obvious. So how do we account for the associated security risks and costs? Today, along with increased connectivity, endpoint proliferation and the SaaS explosion, attack surfaces have expanded exponentially.
The average cost of a data breach in the U.S. is $9.44 million. In light of this eye-popping figure, is more connectivity worth it? Or is it merely part of the entrance fee to remain competitive as a modern-day business? You didn’t need auto insurance or anti-lock brakes before cars were invented. Still, if you want to move at modern speeds, these things are essential.
For a company, staying viable isn’t free either. But is digital transformation worth it security-wise?
Paving the way for threat actors
In every way, the technology we’ve developed and deployed has set the stage for the current cyber crime explosion. If there were no email, there would be no phishing — which skyrocketed by 569% in 2022. If industrial plants and communications weren’t heavily connected online, there would be much less critical infrastructure risk. In the past, the only way to hack a factory was from the inside. Machine controls weren’t connected to the cloud since it didn’t even exist.
Most organizations now host a combination of interconnected IT, OT and IoT devices in their networks. This has increased their attack surface significantly. < ..
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