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The Rapid Rise of Technology: Is Your Business Prepared?

Technology has become deeply integrated into nearly every aspect of our lives. From smart cities to AI assistants, we are more dependent on tech than ever before. While this connectivity provides convenience, it also introduces new cyber risks that businesses must prepare for.

As entire operations move online, the impacts of cyber attacks reach beyond data theft. A breach could potentially put human lives at risk by disrupting critical infrastructure like power and transportation. We've seen this with recent attacks on hospitals. Cyber insurance will need to expand to cover bodily harm and loss of life.

Emerging technologies like augmented reality and self-driving vehicles will also change cyber exposures. As Apple, Meta and others release AR/VR devices, businesses will need to secure new endpoints and ensure safety features are built into hardware and software. With autonomous vehicles, security cannot be an afterthought. It must be a key component of design.

AI tools like ChatGPT make cyber crime more accessible by lowering barriers to coding malicious software. And by generating sophisticated phishing content, they will make social engineering attacks much harder to detect. Businesses will need advanced defenses like AI-enhanced email filtering.

While technology provides efficiency and capabilities, it also comes with new risks. Security can no longer be an afterthought. It must be a key focus and budget item, even if it doesn't directly drive revenue. The devices and networks we rely on must be secured by design. By taking proactive steps to understand and mitigate emerging cyber threats, businesses can stay on top of this rapidly evolving risk landscape.

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