Challenges in the technology industry
With the digital transformation, technology has been āessentialā to enable global responses and recoveries. Video conferencing has allowed businesses to keep running and people to stay connected. Wireless and broadband technology have helped employees work from home and enabled students to attend classes from the kitchen table.
As the demand for a variety of technology solutions increases amid digital transformation, many companies have benefited from new opportunities and the expansion of existing ones. However, companies in the technology industry, ranging from hardware factories to software developers, must protect themselves against new business risks.
Data security and privacy: Company or customer data is compromised, stolen, or misused.
Digital Business Disruption: Business operations are disrupted by a systems or technology failure without a physical cause.
IT Resilience: The ability of systems to remain up, functional, and running at the highest speeds and capacities.
Equipment Sabotage: Physical damage to equipment to disrupt operations. While this type of attack is less common than other cyber threats, it can be extremely damaging to a technology company.
Directors’ and Officers’ Liability: The risk to directors and officers that the decisions they make in the management of a company are alleged to be unlawful.
Intellectual Property Theft: Valuable trade secrets and other sensitive information. Information theft is carried out by employees or insiders who have access to the company network.
Cloud jacking, once a hacker gets into your company cloud, they may try to reconfigure the cloud code to manipulate sensitive data, eavesdrop on employees and company communications, and expand their reach to take control of the entire cloud.
Deepfake is produced by artificial intelligence that takes an existing video, photo, or voice recording and manipulates someoneās image or voice to falsify their actions or speech.