Businesses should get Ready For 'When We Get Hacked !'

S Mohini Ratna, Editor, VARINDIA 

India is indeed at a critical juncture, grappling with twin challenges that have the potential to shape its future in profound ways. The nation, known for its diverse culture and economic potential, is confronted with a Tech Tsunami and soaring Unemployment. 

The Tech Tsunami refers to the rapid pace of technological change that is sweeping across India. This is being driven by a number of factors, including the rise of the internet and smartphones, the growth of e-commerce, and the adoption of new technologies such as artificial intelligence and machine learning.

The Tech Tsunami is having a profound impact on the Indian economy and society. It is creating new jobs in sectors such as IT, e-commerce, and fintech. It is also making businesses more efficient and productive. 

However, the Tech Tsunami is also disrupting traditional industries and displacing workers. For example, the rise of e-commerce is leading to the closure of brick-and-mortar stores, and the adoption of new technologies is automating tasks that were previously performed by humans.

Concurrently, India's unemployment problem has reached to alarming levels, with millions of young job seekers struggling to find meaningful employment opportunities. These challenges, if left unaddressed, could lead to social unrest and hamper the nation's development.

It is true that the Tech Tsunami is disrupting traditional industries and displacing workers, and that some people are turning to cybercrime and hacking as a way to make easy money.
In this age of connectivity, where the internet has become an integral part of our daily existence, protecting our online privacy is paramount.  As the country is progressing rapidly towards a digital future, we need to respect and understand the significance of preserving the privacy and security of our personal data. 

We’ve seen several major cybersecurity incidents making waves across APJ, such as the Latitude and MOVEit data breaches, fuelling the ongoing conversations around how data is stored. The conversation is shifting from how a hack happened, to how organisations are protecting data, particularly how they are storing it. 

Businesses should no longer think “if we get hacked” rather seriously think, “when we get hacked, what is our recovery plan?”. By ensuring data recoverability, businesses can ensure business continuity in the case of a cyberattack.

Today, businesses of all sizes are at risk of being hacked. It is time to invest into Encryption, multi-factor authentication, frequent security audits, and extensive employee training programmes to raise cybersecurity awareness are essential for preventing data breaches. 

Cybersecurity and data privacy are of paramount importance for every organization in today's digital landscape. Protecting sensitive information, both customer and internal, is not just a legal requirement but a fundamental trust-building measure. 

A report says, 51% of organizations are planning to increase security investments to avoid any breach, including incident response (IR) planning and testing, employee training, and threat detection and response tools.

Moving forward there is need for a strong emphasis on cybersecurity and data protection as a core part of the business strategy.