2 minute read 17 May 2021
Is security the price to pay for innovation?

Is security the price to pay for innovation?

By Tim Best

EY Sweden Advisory, Risk, Cybersecurity, AM&M Cyber Leader

Tim is a cybersecurity specialist with over 18 years of experience in IT and Cybersecurity consulting and project delivery. He has worked across EMEIA in a wide range of cybersecurity roles.

2 minute read 17 May 2021

Today, digital innovation lies at the core of every organization. 

Businesses are virtualizing operations to work better and faster, and cloud computing has become the de facto choice owing to digital transformation shifts. With this increasing pursuit of innovation, are we at a greater risk of new security threats and vulnerabilities? How can organizations eliminate such threats and adapt to new technology with confidence?

New tech, new threats

The COVID-19 pandemic has supercharged innovation in every sector. But with innovation at speed and scale, comes new security risks and vulnerabilities.

The rapid shift to new-age technologies, such as artificial intelligence, presents a completely new attack surface. The methods underpinning these state-of-the-art systems are systematically vulnerable to cybersecurity attacks.

Organizations are also at risk from “supply chain” attacks, wherein a malicious code entered by a supplier of a subcomponent then gets built into the whole system. 

Similarly, the shift to 5G is complex and could lead to the introduction of new cybersecurity vulnerabilities. Hackers are also closely tracking published vulnerabilities to find their next big exploit.

Security first

Innovating securely for competitive differentiation is essential. Legacy technologies must be supported, customer data protected, cybersecurity risks identified and managed, business processes protected, and severe skills shortages addressed.

Organizations, thus, need to implement security assessment programs that keep pace with technology-driven changes. A robust program can help your firm stay focused on enterprise protection by:

  • Maintaining vulnerability management processes
  • Preparing in advance for future threats
  • Coming up with a robust vulnerability management plan that has three main parts: identification, prioritization and remediation.

We need to act now to secure emerging technologies. But is your organization self-sufficient to reduce the gaps between security and innovation?

 

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Summary

With an increasing pursuit of innovation comes security risks and vulnerabilities. Innovating securely has become the biggest challenge for organizations today. The need of the hour is to implement security assessment programs that keep pace with technology. Sign up for our security assessment webinar to learn the right way forward.

About this article

By Tim Best

EY Sweden Advisory, Risk, Cybersecurity, AM&M Cyber Leader

Tim is a cybersecurity specialist with over 18 years of experience in IT and Cybersecurity consulting and project delivery. He has worked across EMEIA in a wide range of cybersecurity roles.