Cyber Security is definitely one of those careers that people talk a lot about without really knowing anything about how to get into the profession or what people do once there. The overall meaning of the words makes sense, but why are businesses so keen to hire cyber security professionals, and why now?
Let us explain! Investment in cyber security is important for businesses due to the following reasons.
In 2020, on average, every person on Earth created 1.7 megabytes of data each second. (Source 1) In our ever-digitalising, data-first world, this large amount of highly sensitive, protected or personally identifiable information is being used and stored by the businesses we engage with every day.
This data not only needs to be stored somewhere safe for reuse and reference but also securely so that it does not fall into the hands of people who wish to use it illegally or for sabotage.
This is where Cyber Security specialists are hired. They think about the biggest threats to the online security of a company and use their knowledge to build tools, code and processes to defend against malicious methods.
Device security is equally important for similar reasons. Where historically security has meant security guards and identity checks outside buildings, tracking key holders and bolting down desktop computers, the movement of powerful and small digital devices becoming mainstream has meant that this physical security is no longer sufficient.
Device security in the modern world means fingerprint and facial recognition, personal internet connections and secure VPNs and encryption as much.
2. Investment in Cyber Security increases consumer confidence
Data leaks are costly and produce significant amounts of uncertainty for customers and employees alike. A few data breaches to have made international headlines in the last few years include:
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Uber: In 2016, hackers stole information from 57 million driver and rider accounts and then approached Uber and demanded $100,000 to delete their copy of the data. Employee directories and internal systems were forced to go offline while an investigation into the breach took place after a hacker made themselves known on their internal messaging systems. They did this by bulk posting messages and images of the stolen data (Source 2). You would be correct in imagining the kind of travel and personal data that Uber collects to be harmful in the wrong hands. Concerned riders and drivers could use this breach as an incentive to bring their business to less prestigious but more data secure companies.
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Twitter: People who are protective of their login and contact credentials became wary of the information they give Twitter as hackers stole the email addresses of more than 200 million Twitter users and posted them on an online hacking forum (Source 3). Like Uber, Twitter relies on users to feel safe posting information about themselves, such as where they are, and their thoughts directly to the platform. Without this, or with reduced traffic, Twitter could suffer significant losses.
3. Cyber Security ensures a business's operational safety and consistency
It is not only digital-first companies that are hiring specialists in Cyber Security. Cyber Security is essential to real-world projects as well.
Breaches in critical operation by people without essential training or with malicious intent can cause, arguably, even more, significant problems than those hacking into an entirely digital operation. (Source 4)
For example, cyber security specialists are needed in public and private infrastructure projects to ensure trains will be able to consistently run on time, or that power supplies are regulated without service interruption.
4. Investment into Cyber Security strengthens a company’s mitigation and response to cyber threats
From 2022, it is predicted that there will be a 15% annual increase in costs related to cybercrime to companies (Source 5). Cyber Security specialists help companies reduce costs by identifying potential security vulnerabilities and finding solutions to them before they become significant threats.
The maturity and frequency of cyber attacks on businesses have also increased. Technologies and capabilities are making already known forms of attacks, such as ransomware and phishing, more prevalent (Source 5). Cyber Security professionals keep up-to-date with developments in the Cyber Security field, making sure that companies, their employees and their customers are protected against the latest developments and trends in cyber attacks.
We can help you launch your new career in Cyber Security!
If you’re thinking about switching careers and want to formally learn Cyber Security for more credibility in the field before getting into the job hunt, consider signing up for one of our bootcamps.
We offer fully remote or hybrid learning options, full-time and part-time in UX/UI Design, Data Science, Web Development and Cyber Security.
Book a call with us to see which bootcamp would be best for you and how it can help you change your career.
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Sources:
- McKinsey, https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/cybersecurity/cybersecurity-trends-looking-over-the-horizon (March, 2022)
- New York Times, https://www.nytimes.com/2022/09/15/technology/uber-hacking-breach.html (September, 2022)
- Reuters, https://www.reuters.com/technology/twitter-hacked-200-million-user-email-addresses-leaked-researcher-says-2023-01-05/ (January, 2023)
- Logpoint, https://www.logpoint.com/en/blog/critical-infrastructure-cybersecurity-and-the-energy-sector/ (October, 2022)
- McKinsey, https://www.mckinsey.com/capabilities/risk-and-resilience/our-insights/cybersecurity/cybersecurity-trends-looking-over-the-horizon (March, 2022)
