2017 has seen a tumultuous few months when it comes to data security. Businesses – from the smallest organizations to global enterprises – are reviewing their security systems in the wake of WannaCry’s worldwide attack on over 300,000 Windows computers. The virus nearly brought the NHS to a standstill and halted Renault’s production lines. If this latest virus has taught us anything, it’s that no company is immune from a breach if their data is inadequately protected.
At Atos, we’re aware of the mounting pressure being placed on organizations when it comes to data security. A recent report by Trustwave highlighted that over half of global respondents in IT management positions are feeling stressed about security. This is a key subject area that we have been focusing on at the Atos Technology Days 2017, where securing the data journey was the driving force of discussion.
The rising cost of compliance
The cost of failing to secure businesses is rising and senior executives are seeking the right tools and talent to protect themselves. Insurance company, Lloyds, estimated that cyber-attacks are costing businesses as much as $400 billion a year. This figure is increasing every year, with lost revenue from security failures quadrupling between 2013 and 2015.
With GDPR coming into effect next year, the added penalty for failing to protect employee and customer data will only add to these concerns. A recent survey by IDC highlighted that most businesses have a long way to go to realise the full consequences of failing to comply. Of the European IT decision-makers surveyed, nearly 80% have a poor understanding of GDPR’s penalties and only 20% of those who are aware feel that they currently meet the requirements.
A changing security landscape
With the rising cost of damage control and associated penalties, companies value proactive prediction and prevention over reactive treatment. But the cyber-attack landscape is expanding, due in part to the growth of the Internet of Things (IoT). Gartner predicts that by 2020, 20.4 billion IoT devices will be in use. This is a ticking time bomb for security as every new connected device could be a potential gateway for criminals. To put this in simple terms, the rise of IoT is like multiplying the number of doors to your home by 50.
It’s also getting much easier for hackers to launch a malicious attack. The cost to entry is very low on the dark web, creating greater incentive to engage in criminal activity. Exploit kits are easily accessible, enabling attackers to swoop in and take cash undetected. It’s a far simpler way to steal money than holding up a high street bank and to many, it may seem like a faceless crime.
Prediction, detection, prevention
To combat this evolving threat landscape, innovative preventative technology is starting to emerge. At Atos Technology Days, we showcased the latest in security innovation, from encryption and digital identity to securing the IoT. We explored some of the latest security trends, including prescriptive security and making the shift from security of big data to harnessing big data for security. Advances in these areas have the potential to save companies their money, privacy and reputation.
Investing in the preventative technology of tomorrow is critical in the ever-evolving threat landscape. For example, no existing encryption could currently resist a quantum attack. At Atos Technology Days, we also showcased a quantum machine simulator to help companies prepare against the next generation of security attacks. By collaborating as an industry, security will become more manageable.
If you’d like to find out more about Atos Technology Days, please visit https://atos.net/en/atos-technology-days