Amrop: Cyber Security: Data Privacy
Cyber continues to dominate headlines - and rightlfully so. Not only is the topic wide-ranging, but cyber attacks are mushrooming daily, unconstrained by geographic or sectoral borders. Like so many of today’s business issues, human decision-making and behavior lie at the heart of the problem. How can companies develop digital offerings without inviting the real threat of cyber risks? Beyond the numbers, how much insight do boards really have? Within board governance, what data governance structures are needed?
In their new series, Amrop breaks the subject into bite-size portions, collaborating with some of the industry’s most innovative companies as they trailblaze through the digital landscape.
For companies looking to extract value from advanced analytics, machine learning and sharing with third parties, digital information has become a major strategic asset.
Some of their findings suggests:
- The cost of data breaches is on the rise
- The biggest loss to organizations remains the erosion of business
- Boards and CEO’s are increasingly held responsible for data breaches – and penalized accordingly
- Well-resourced governments are increasingly suspected of targeting companies or influencing the affairs of other states
- Companies are switching on to cyber security, investing in speeding up detection of data breaches and their escalation to top management
- There is a direct correlation between data governance and the cost of breaches
- The Internet of Things and machine learning offer exciting new ways to protect systems and detect attacks. However they may also make attacks more efficient – and allow new types of attack.