Addressing the challenges of innovation and security is crucial for modern enterprises. Businesses adopting technologies like AI, IoT, and blockchain encounter various risks and vulnerabilities.
In a world characterized by rapid technological advancements, businesses grapple with new tools and platforms that promise efficiency and scalability. However, the technologies that propel enterprises into the future can also expose them to significant security risks.
The double-edged sword of technological advancement
Rajarshi Bhattacharyya, Co-Founder, Chairman, and Managing Director of ProcessIT Global, aptly observes, "The digital systems of today are a result of an evolution of past technologies where clarity existed in the functioning of the systems. But the dynamics of technology are longer the same." As businesses deploy AI, IoT, and other emerging tools, the landscape shifts, ushering in both opportunities and vulnerabilities.
Cybersecurity threats amidst innovation
"Today, with innovation, the structure, components, and processing of technologies are constantly changing to support new business needs," Bhattacharyya continues. Though essential for progress, this ongoing transformation widens the attack surface, with each added component or connection creating the potential for cyber threats.
Growing inter-connectedness and evolving threats
"Whenever a new technology such as AI, IoT, or Blockchain is introduced, the potential risks organizations face also increase. Additionally, the growing interconnectedness of devices, systems, and networks and evolving threats have expanded the threat surface," notes Bhattacharyya.
Hidden challenges and systemic risks
Bhattacharyya further elaborates on the challenges, stating, "Despite implementing risk-mitigating measures in organizations, the growing new technology environment will overwhelm them. The challenges could be hidden and systemic risks, capability gaps, lack of leadership action, widening cybersecurity skill gaps, and under-investment in developing emerging technologies securely."
Striking a balance
To navigate this complex terrain, Bhattacharyya suggests, "It is important to strike a balance between innovation and securing operations by strategically adapting emerging technologies." Fostering an environment that embraces change while also being proactive is essential. Moreover, organizations must ensure that their cybersecurity strategies evolve in tandem with technological advancements.
The need for collaboration
One way to mitigate risks is through collaboration. Engaging with other businesses, governmental bodies, and cybersecurity experts can offer fresh perspectives, shared insights, and best practices. Bhattacharyya emphasizes the importance of "being proactive and collaborative in mitigating risks" in this interconnected era.
The balancing act between innovation and security is one that enterprises will continue to face in the ever-evolving digital landscape. By recognizing emerging technologies' dual nature and prioritizing progress and protection, businesses can stride confidently into the future.
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