Many of the costs of a data breach are pretty cut and dry. They are obvious, like the myriad of explicit costs concerning lost data, costs of fixing security issues, downtime costs, and so many more. But what happens when sensitive data is compromised -- data that tens, hundreds, thousands, or even millions of people have entrusted you with? Inevitably, we arrive at another compelling reason why appropriate security infrastructures cannot be ignored, the legal side of things can get tricky when dealing with other people's information.
Have advancements in Iot and the development of technologically integrated networks that are now defining the infrastructure of entire cities gone too far without an appropriate emphasis on security? In the past week we have seen a 1.4 million car recall by Fiat Chrysler, demonstrating a gross failure to proactively protect the integrity of systems and the safety of digitally dependent consumers. How secure are we both as individual tech consumers and a collective digitally dependent society?
As user access increases, our awareness of security is transforming around us. Mobility breeds a plethora of opportunities and a flourishing of potential in not only productivity, but innovation as well. Nevertheless, increased access also means increased risk. What is more is that oftentimes this risk is misunderstood, unaddressed, or even wholly unidentified, an consequence of the speed at which the mobile revolution has transformed the way we conduct basic operations.
Take a critical look at a rather fascinating correlation—the correlation between the jump in share value of cyber-security companies in the past few years and the steady increase in the quantity of cyber-attacks during a similar period. More threats seem to breed more opportunity, and increased vulnerability is often a catalyst for innovative solutions. What trends might increasing threats imply, and from where can we draw parallels in order to best understand the current state of data protection?