Cybersecurity breaches are a major threat to every business and can quickly lead to network downtime. In fact, a standard breach costs an average of $3.5 million (IBM). However, if a large organization is unprepared, this cost could skyrocket, as was the case for one firm last year, which lost an estimated $51 million after halting operations due to a breach.
Because of the COVID-19 virus pandemic, millions of Americans have been asked to stay in their houses until further notice. Our new national focus on hygiene and hibernation means that we’re mostly home, save for only necessary trips to the grocery store, the pharmacy, or for medical appointments. While it’s hard to define being quarantined as a good thing, from a security perspective, it means the chances of experiencing a home burglary are now quite low.
Artificial intelligence (AI) presents a perfect solution to compensate for unmanned environments or those with limited staffing, or the loss of vigilance after looking at a screen too long. AI can help us not only watch continuously, but also feed systems that are able to sort, organize and categorize massive amounts of data in a way that human operators cannot. And it can do so far more reliably than traditional video analytics ever did.
Is it truly possible to train every single employee—including those working from home and organizations’ third-party partners—to spot a cyber-threat? Or to keep good cybersecurity hygiene when handling sensitive data? Or to refrain from stealing intellectual property when they’re disgruntled and about to resign? While training is a key element to preventing breaches and protecting important corporate data, training alone is not enough.
CMOs are now tasked with introducing privacy-centric practices to protect consumer data, while simultaneously using this data to personalize experiences. Here are three ways privacy will need to evolve organization-wide as demand for personalized "everything" grows.
In late January, the Department of Justice filed lawsuits seeking temporary restraining orders against five companies and three individuals, based on allegations that they had carried hundreds of millions of fraudulent robocalls to American consumers. Within days, the Federal Trade Commission (FTC) sent letters to 19 Voice over Internet Protocol providers to warn them that any assistance or facilitation of telemarketing through robocalls would be deemed to violate the new law.