2 Sides Of Digitization: Convenience Data Theft

Since the pandemic hit the world, everything ranging from learning and working have become digital. But with digitization comes the threat of data theft, i.e., frequent cyberattacks

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If say that the world is data-driven, don’t think I am wrong. In the 1980s, the world witnessed a digital revolution that completely changed the world and continues to do so. However, we are now witnessing a cyber digital twin revolution unmasking the dark side of the digital world, i.e., cyberattacks. On one side, the governments and organizations are aggressively working to digitize the environment; the cybercriminals are waiting on the other side to take advantage of the changing landscape. would like to give the example of the Digital India Mission, while the mission and its vision are brilliant, what guarantees that the collected data is not at risk? The same applies to companies, LLPs, and startups; no matter how big or small you are.

The huge amount of generated data helps organizations make inferences on customer trends. Since the pandemic hit the world, everything ranging from learning and working have become digital. But with digitization comes the threat of data theft, i.e., frequent cyberattacks. According to a recent report by IBM Security, India alone has contributed to more than 1.1 million reported cases of cyberattacks during the year 2020-21. Telecommuting and virtual workplaces were some of the key factors behind major cyberattacks. And, here comes the urgent need to protect your data.

WHY THERE IS A NEED FOR CYBERSECURITY?

There is a famous line, Data is the new oil. Well, don’t see any lie as data truly is the new currency. And this is the reason why cyberattacks have become the new norm in the 21st century. Let us see some data to quantify these massive statements:

According to recent reports, loT cyberattacks alone will double by 2025.

But wait, there is something worse. According to the World Economic Forum’s 2020 Global Risk Report, the detection rate for cyberattacks is merely 0.05% in the United States. These figures will worsen as digital dependency increases.