Economics of Cyber & Risk Management
Cyber security has historically conjured up thoughts of hooded bandits working in a dark room to hack into our nation’s defense systems and corporation’s websites. The COVID-19 pandemic has proven that cyber security extends far beyond national security and online presence as it affects our daily lives and business operations. Businesses, government agencies, educational institutions, healthcare entities, and nonprofits alike are all grappling with IT (Information Technology) infrastructure challenges, and the pressures will not subside anytime soon.
Teleworking, telehealth, virtual learning, and e-commerce are just a few daily practices being influenced by data security, access, and management. Simultaneously, labor shortages continue to challenge technology firms in their ability to combat digital adversaries. Future business profits undoubtedly will be linked to the cyber and risk management practices business entities put in place and the ongoing training their employees receive as they protect their data assets and intellectual property.