According to an IBM estimate from 2021, cybercrimes cost firms $4.24 million on average. By 2025, it is predicted that cybercrime will cost $10.5 trillion annually.
Many businesses overlook the importance of cyber security and become targets of attacks. Because they don't consider them to be necessary investments, they don't even adopt the most fundamental security measures.
In contrast, many firms throughout the world that are aware of their cyber defense have employed technology to leverage quickly expanding technology standards to become more resistant than ever.
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Here are some main reasons why cyber security is important for present day companies:
1. Increasing cybercrimes
Whether your business is tiny or large, a cyber-attack can have a negative impact on you. This is so because every business has a number of valuable assets that any hacker could utilize. Sometimes, it involves the private data of clients or consumers. Other times, it's just money', plain and simple. Cyberattacks occurred 270 times per organization in the past year, a 31% rise from 2020. Strong cybersecurity is the only way to stop the annual rise in cybercrimes.
2. Use of more IoT devices
We have benefited from the arrival of Internet of Things (IoT) technology, but it has also made us a target for hackers. IoT devices present greater surface areas for data breaches because they come with a variety of sensors and use cutting-edge technologies for constant communication and data exchange. No matter how sophisticated your security measures are, if you don't handle these internet-connected gadgets effectively, they will give you an opening.
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3. Increasing technology usage
We all spend a lot of time using technology, which only means that cybercriminals have a flourishing market. Serverless computing, edge computing, and API services are all experiencing rapid growth. Processes may be effectively automated and dynamically changed to diverse situations when used in conjunction with container orchestrations like Kubernetes. Attackers are attempting to stop this hyper-automation by targeting such APIs, which have the potential to significantly affect a company's commercial operations.
Conclusion
Cyber attacks have impacted businesses of all sizes in every part of the global economy, including Uber and social media giant Facebook.
Because of the ongoing advancement of technology, we are all now susceptible to cyber-attacks. The rate of cybercrime is constantly increasing and will never stop. Hackers can thus take our data, money, and reputation if there is no cybersecurity. You can defend your company from cyber attacks in a variety of ways; all you have to do is recognise its significance and take appropriate action. Contact our staff right now to protect your company.
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