Cyber-attacks targeting technology and telecommunications firms represent the most significant threat to their sensitive customer data and invaluable intellectual property. When successful, such attacks cost these firms dearly, not only in terms of immediate loss of revenue but also in the form of subsequent reputational damage.
Technology firms that provide digital services or house vast quantities of user information are particularly at risk, as demonstrated in the Uber breach that exposed the personal information of more than 25 million users. Regulations around personal data, such as GDPR, increasingly require technology firms to adopt a robust cyber defense strategy that can detect cyber-threats at an early stage.
Cyber-attacks aimed at technology firms with lucrative IP have also become a fact of life in the Information Age. Often perpetrated by nation-state actors with advanced capabilities, these attacks are now remarkably subtle and stealthy, with some of the latest examples beginning to incorporate AI elements. For tech companies that rely on IP to maintain their competitive edge, these subtle and AI-powered threats have rendered static security systems no longer a viable option as a last line of defense.
The world’s most inventive companies are paving the way for a safer and smarter future, but that future is seriously imperiled by the modern cyber-threat, which legacy tools are ill-equipped to counteract. These innovators must therefore be willing to adopt equally innovative cyber security solutions, most obviously for the sake of their reputations and their bottom lines, but not least for their customers around the globe who increasingly entrust them with their livelihoods.