At the beginning of a new decade in 2020, the world has moved towards the Fourth Industrial Revolution by way of connectivity and digitization. The fourth industrial revolution is the new ecosystem in which disruptive technologies such as the internet of things (IoT), robotics, virtual reality (VR) and AI ( artificial intelligence) are changing the way we live and work.
The first industrial revolution uses steam power to mechanize production and movement of goods. The second industrial revolution uses electric and atomic power to use mass production. During this time we saw the invention of the internal combustion engine and assembly line for car production. Third, we saw the digital revolution happening since the middle of the last century. It is characterized by a fusion of technologies, blurring the lines between physical, digital, and biological spheres. Nevertheless, the fourth industrial revolution is the prolongation of third but it distinguishes by Velocity, Scope and System impact.
The fourth industrial revolution happening at exponential rather than a linear pace. It is disrupting every industry globally. The possibility of billions of people connected by mobile devices, unprecedented processing power (5G), storage capacity, and excess to knowledge. These possibilities are multiplied by emerging technology breakthroughs in fields such as AI, robotics, IoT, autonomous vehicles, 3D printing, biotechnology, and quantum computing.
Fourth industrial revolution compelling companies to reexamine how they do business and equip to match cybersecurity with rapid growth.
David Young, CEO of Oxford Analytica, an independent geopolitical analysis an advisory firm, said that the total cost of cybercrimes globally will hit $ 1.2 trillion by 2021. Hacking has become a very attractive industry with direct and immediate financial returns. For example, ransomware attacks grew by 118 percent in 2019. The roll-out of 5 G this year will introduce new vulnerabilities as 5 G’s flexible networks are open and programmable-making them targets for malicious actors.
There will be a proliferation of attacks on Artificial Intelligence (AI) based systems. For example, company A is making decisions based on the way a particular AI algorithm works. Now suppose a ‘black web’ attacker figure out a way to manipulate that AI so that it behaves differently. Since it is a black box and you don’t know how it’s supposed to behave that sort of vulnerability could cause companies serious loss.
Cybersecurity– like most business activities– is a team effort. It takes the cooperation of everyone in the company to minimize infiltration, data loss and spread of malware. To have an appreciation, “cyber education’ must be multifaceted and ongoing. Companies don’t need to develop or maintain their entire cyber-education program on their own. They can take advantage of vendor-sponsored programs.
Every revolution has its threats and challenges. Four key challenges for cybersecurity leaders:
- REAL-TIME INFORMATION SHARING
The pace of the digital world continues to increase exponentially. Speed is fundamental to an effective cybersecurity strategy. Speed requires visibility.
- WIDESPREAD COLLABORATION IN CYBERSECURITY
Effective cybersecurity must be deeply and widely collaborative.
- CREATING AND PROMOTING A CLEAR VISION FOR INTEGRATING CYBERSECURITY
Geneva type of convention of the global agreement
- PROMOTING THE TECHNOLOGY PLATFORM WE NEED TO MAKE THIS TO WORK
Security driven networking.
WORLD ECONOMIC FORUM center of cybersecurity must educate product designers about the need to build cybersecurity within devices. I believe that cybersecurity is a responsibility we must all take on…