Businesses of all sorts are lining up to transform the way the
world approaches digitalization, influencing it directly by offer a
comprehensive package that keeps data secure.
Sectors such as blockchain, the esports industry, artificial
intelligence, cloud computing and many others gaining popularity and making
significant headways.
How is cybersecurity contributing to digital transformation?
The past decade has made us witnesses to the evolution of
many industries. The music industry switched vinyl discs and cassettes to CDs
and now introduced live streaming to the world, with Spotify leading the trend
after its NYSE 2018 listing. The cable industry has also been shaken up, with
the giant Netflix
expanding to over 190 countries worldwide. Apple and Disney are also joining the
big player league, launching streaming services full of original content and
celebrities.
Thanks to the technological advancement the world is experiencing,
messaging apps are now making people stay connected from any corner of the world,
with WhatsApp hosting over 1.5B users.
Expanding to the sector of artificial intelligence (AI) and
3D printing, developing countries such as India are counting on optimization
and improving their ongoing processes with the help of the latest discoveries.
If you thought that entertainment field isn’t getting a
makeover, the esports industry surprises by being the latest business addition
to the chain of players that decided to keep up the pace with technology.
With over 454 million viewers worldwide and run by a handful
of the largest production companies such as Tencent Holdings and Activision Blizzard,
esports are drawing a lot of attention by stacking up on the latest means of
keeping player data safe from any type of cyber-attacks.
There are few limits to how the business sectors can benefit
from digitalization, making imagination the only thing needed for innovation.
A growing digital universe
The digital age we’re experiencing as a society is upping
the odds for cyber safety, with an expanding need for security services to
guard all of the information being stored and used online.
Based on what the internet infrastructure company Cisco is stating, global
internet traffic might grow by an average of 26% every year through 2022.
A research done by Global Market Insights states that the
total cybersecurity industry should grow by an average of 12% a year and might
even reach $300 billion by 2024. Judging by all the diverse niches that are
being created at such a fast pace, consisting of identity, authentication, and
access management (IAAM) or security information and event management (SIEM),
cybersecurity is bound to boost many types of businesses in the future.
Looking through the tech-lens
The corporate world has spiked the tech sphere by spending
heaps on digital security with the aim of protecting intellectual property and
consumer privacy.
In the finance industry, there’s not a day that goes by
without a major league player such as a fintech company or a bank announcing a
new initiative related to cybersecurity.
As we’re entering a zero-trust era, many tech-sector-workers
have been caught off-guard and need to catch up to understand the complex
technological world forming before us.
What this means for investors around the world
Cyber-attacks can have various reasons, from gaining
sensitive and secret information to causing business disruption that leads to
economic setback or reputational damage. As no company wants to be at risk of
web-based attacks or any type of malware, the big players have started paying
more attention to ways of becoming more digitally secure.
A report by Accenture broke down cyber-consequences into
four major categories:
1)
Information loss
2)
Revenue loss
3)
Equipment damage
4)
Business disruption
And estimates that the total global value at risk from
cybercrime is $5.2 trillion in the next 5 years.
When it comes to business disruption, Palo Alto Networks and Fortinet got their head
start by making hardware & software-based firewalls and antivirus tools
while steadily expanding into other security market areas. Now, they stand by
the largest pure cybersecurity stocks on the global market.
Cloud-native platforms using data storage, apps and
computing processes need a new workplace dynamic that focuses on the way
companies do business with customers. This is where companies like CrowdStrike jump in and
add endpoint security, protecting the devices that hook up to the network.
Pair this up with systems of tiered access from CyberArk and Splunk and you’ll have a
comprehensive system that’s ready to power your business.
It appears that the days consisting of portfolios relying on
stocks and bonds are becoming a thing of the past, with more and more investors
shifting their gaze towards alternatives.
But what exactly goes under the term alternative
investments? Generally, the instruments that don’t fall under the traditional
classes of financial assets, like bonds, commodities or shares.
Having grown right in the middle of it, the new generations
of investors are aware of this and are no longer focusing purely on potential
gains, but transitioning towards ESG investing – environmental, social and
governance matters.
On our way to a personalized future
At the end of the day, modern investors are looking for
personalized advice and better choices, in sync with the topics they stand for
and believe in. Increasing interest in online safety and privacy is attracting
a lot of attention in the financial world.
Cybersecurity is slowly becoming more than a
forward-thinking move, turning into one of the core subjects that companies
take into account when planning to survive in the new economy of today. In
short, developing technologies free up business resources through optimization
and even update the essence of a business.
Although investment in technology is still in its early
stages, cybersecurity and digitalization seem to infiltrate every corner of our
lives. With so many companies entering the cyber-competition and boasting about
their progress, there are plenty of new trends arising within the financial
industry.
Sources: Investopedia.com, Nasdaq.com, forbes.com
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