Cybersecurity has been recognised as one of the four major trends affecting current businesses, as observed by Microsoft CEO and Chairman Satya Nadela. Today’s most significant impediment to digital transformation is cyber security, which is the biggest challenge that any business in the future will face.
During one of his speeches during Microsoft’s Future Ready flagship event, he stressed that “when you consider the amount of transition our IT and cyber operations underwent during the pandemic, as every business process became remote, this complexity will only grow.” He emphasized that organisations worldwide are undergoing digital transformation in response to the COVID-19 pandemic. As a result, the time has come for comprehensive identity security, privacy, compliance, and management tools. “Every enterprise requires comprehensive capabilities in identity security, compliance, privacy, and management, as well as a cross-platform multi-cloud zero trust architecture,” Nadela explained.
Cyber-attacks have a devastating impact on businesses, costing trillions of dollars in ransom payments, economic and infrastructure damage, and penalties for not securing customer data. According to a report published in 2021 by Cyber Security Ventures, the cost of cybercrime is increasing at a 15% yearly rate and is expected to reach $10.5 trillion annually by 2025.
He added that the epidemic has significantly increased digital dependency and remote working. As a result, ensuring cyber security in remote work has posed several challenges and necessitated the development of an advanced digital infrastructure with end-to-end protection.
Content Writer, WCSF