Growing Need for Cybersecurity, Are Start-up's more equipped?
The pandemic has pushed us further into a digital world. We have experienced more digital transformation in the last month than we have seen in the last decade.
While many workers and businesses are suffering from closures and quarantines, other areas of our economy are innovating and/or growing. These areas include telecom, Internet, supply chains, pharmaceuticals, and healthcare to name a few. Our reliance on all of these sectors has increased highly as we look at recurring issues and ways to create contact with fewer deliveries, a more reliable internet service, better supply chains.
We should note that the way we communicate has shifted, but also the way we learn or respond to that learning has switched. We don't know if our online education or communication models can replicate the previous social, conducive but for now, the demand for online conferencing software such as Microsoft Teams, OptimizeMeet, Skype, Cisco's Webex and Zoom is amplifying.
And, while we look for other ways to connect, there are pressing things that are arising with it; such as a need for cybersecurity. Recently we have seen critical responses towards Zoom's video conference, there have been instances of Zoom bombing, non-consensual recordings, or establishing a local software which can access previously visited sites. As options for a physical service decrease, people might also lower their barriers when it comes to sharing their data. People are willing to trade their data and privacy concerns for convenience and service. The levels of surveillance have increased, and organizations and individuals are becoming aware of digital threats.
There are many possibilities of risking privacy, such as accidentally downloading malware, or not having separate passwords for different ID's. As employees are encouraged to be aware of these threats, organizations should also insist that people use their VPN to access work-related systems or data. The key is to secure your network, see that your devices are securely figured, and take proper steps to not only leverage cloud security solutions if using them, but to also ensure your organization is not increasing cybersecurity risk by expanding its use of cloud services. But larger organizations, with complex systems, are often still at risk. And, malware often finds a way to breach the system, and to spread and multiply. As we move further we can see that we will require more innovation in methods of protecting ourselves, as evidenced by a report shared by IT consultancy firm Gartner, end-user spending on information security and risk management is expected to touch $2.2 billion in 2020, continuing its double-digit growth from last year.
As we encounter new ways to learn, and our education models shift online, there is a need to acknowledge the influx of the learning content. LMS enables educational institutions to widen their reach to students that are remotely located. Besides, the functionalities of these platforms make the learning process easier and if required self-paced. Many learning management sites are gaining momentum. Platforms like Byju's, or BYSTOnline. These sites manage lessons, in both video and written formats, results, growth of the students. Content that is both rich in intellectual property and that is also sensitive, to protect it they are employing cybersecurity. They are relying on start-ups, not for an end to end solutions but specialized services. Indian cybersecurity startups have seen exponential growth when it comes to numbers and investments. Like, Lucideus which was developed in IIT Bombay for information security services. It is an AI-ML enabled platform that is responsible for taking care of enterprises across the globe. This platform continuously monitors and responds to cyber-threats effectively and reduce cyber-attacks. Or, WiJungle which offers its services to sectors like hospitality, healthcare, education, BFSI, retail, defense, and transportation. The use of technology makes collaboration and communication for learning management systems possible. But, LMS networks are vulnerable to Internet hackers; as a consequence, one virus can damage an entire system and infect the other systems connected to the network. To secure its data BYST which is a mentoring model and provides entrepreneur support has recently given contracts to Enseur for cybersecurity.
The growing need for cybersecurity is evident in all platforms, whether it's to protect personal data or intellectual property. Our solutions to acclimate ourselves with the security concerns of the new normal are shifting, and like organizations or individuals, we should be looking into the amount of data we are leveraging, our sharing patters, and our ways to protect it. With this, there has been a rise of startups providing solutions for the same, cybersecurity to safeguard networks of private data.