The expo focused on the future of enterprise security and protecting privacy and data. Our team heard from a lot of insightful speakers and had some great discussions – here are our 5 key takeaways.
1. Cyber Security hasn’t escaped COVID’s wrath
During the pandemic, IT teams experienced significant pressure and were faced with new digital infrastructure challenges. Meanwhile, cyber-attacks continue to advance, are becoming harder to detect, and are easier to fall victim to. According to Robin Smith, CISO at Aston Martin, in the past two years, cyber security attacks have increased by 168% and it’s estimated that the cyber-crime industry’s value will surpass the drug trade within five years.
With the re-opening and re-structuring of working environments, cyber security should be a top priority for all businesses.
2. Remote working and the skills gap are impacting security
The adoption of hybrid working models has had major impacts in the world of cyber security. With 64% of the workforce being remote, businesses have additional factors to consider such as the use of personal devices and unprotected networks.
Additionally, there is a shortage of talent and capabilities, Erika Lewis, Department for DCMS, shared that 50% of UK firms have reported having a technical cyber security skills gap. There are too few people with the required cyber security skills and an excess of tasks. This leaves companies unable to scale their security operations at speed or respond to threats in a timely and effective manner.
3. Smart Building IoT is Risky Business
When it comes to connected buildings and IoT, businesses and landlords have new risks to navigate and protect against. IoT technology is booming with innovation to make buildings more energy-efficient and modern, but it also has no current standards to adhere to and therefore comes with a significant level of risk for building owners and tenants.
Understanding the risks and ensuring your buildings are protected is key for owners looking to implement IoT solutions.
4. The Repercussions are Real
Aside from becoming more frequent, cyber-attacks are also becoming more harmful to your business. Where once a security breach may have been just a little embarrassing, cyber-attacks now significantly harm your business having expensive recovery costs, negatively impacting your credit rating and share prices, and cause major damage to your professional reputation.
The risk isn’t worth it.
5. You Need to Align Your People, Processes, and Technology
The key to protecting your business from cyber threats is a three-pronged approach. You need to align your people, processes, and technology. Cyber security is no longer considered to be the responsibility of one team in the business, such as the IT team. It’s everyone’s. Everyone in your business needs to be playing an active role in your cyber security strategy.
If you have all the right technology, but your people aren’t trained or there is no process in place to effectively implement the technology, your efforts will be lost. Similarly, if you have processes but your people aren’t aware of them and your technology isn’t up to scratch, you’ll find yourself in the same position.
The consensus from every speaker at the conference was simple: businesses are not yet sufficiently prepared to defend themselves from cyber-attacks today or into the future. You can no longer afford for cyber security to be an afterthought. It should be at the forefront of your business.
Smart Building Cyber Risk Assessment
Our Smart Building Cyber Risk Assessment is a 360-degree review of your physical environments, hardware and IoT, platforms and data, and partners. From the assessment, you’ll:
• Pin point smart building weaknesses
• Reduce the threat of cyber attacks
• Protect your reputation, investors, and occupiers.