The Risks Of Reliance On Technology

With new technology comes new conveniences, however cyber-security risks also present themselves as reliance on technology grows in almost every aspect of life.

 

“As information technology becomes more and more a part of operations technology and cyber criminals become increasingly sophisticated, the threat of physical losses resulting from cyber attacks is growing, according to a new report. The study of the growing cyber threat to industrial control systems (ICS) was conducted by Lloyd's, Guy Carpenter & Company LLC, and cyber-risk analytics firm CyberCube.” (Captive).

 

This can also be referred to as a cyber-risk paradox.

 

“The cyber-risk paradox is that while technology is advancing at lightning speed (or so it seems) and companies are doing everything to stay current in their digital transformations, security still lags. For every new piece of technology we introduce into an organization, we add a new attack vector that requires protection. The convenience of new technologies, especially in IoT devices, adds a layer of often-hidden security risks.” (Security Boulevard).

 

The report from CyberCube affirms that IoT devices could have major consequences following installation.

 

“Their report, Cyber Risk: The Emerging Threat to Industrial Control Systems, finds that the convergence of information technology (IT) and operations technology (OT) along with increases in automation and the sophistication of threat actors make it essential that (re)insurers consider how cyber attacks might produce major physical losses.” (Captive).

 

Businesses should be aware of the potential hidden cyber security risks of technological improvements.

 

“We all love technology, but every piece of technology opens a new potential security risk, whether it is more data collection, expanded attack vectors or additional layers of vulnerabilities. The convenience of technology can improve your business or your customer relationships, but before you add, take a moment to recognize the potential hidden risk.” (Security Boulevard).

 

Have any questions about cyber-security? Responsive Technology Partners is the leading cyber-security expert in the Athens, Metter, Milledgeville, Vidalia, and Atlanta, Georgia areas. We also have locations in Tampa, Florida, Roanoke, Virginia, and Raleigh South Carolina. Service offerings include I.T. support, cyber-security and compliance, telephony, cloud services, cabling, access control, and camera systems. Our company’s mission is to provide world-class customer service through industry leading I.T. solutions that make every customer feel as if they are our only customer. Please visit our website to learn more: https://www.responsivetechnologypartners.com/.

 

 

 

 

 

 

Sources: 

Captive. https://www.captive.com/news/increased-reliance-on-technology-raises-risk-of-cyber-physical-losses 

Security Boulevard. https://securityboulevard.com/2019/02/the-cyber-risk-paradox-benefits-of-new-technologies-bring-hidden-security-risks/