Are Organisations in South Asia doing enough to tackle Cyber Threats?

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Cybersecurity breaches are one of the most prominent and challenging situations that organisations face. With remote working and workload shifting to cloud, organisations have become more vulnerable to possible cybersecurity incidents.

With even some of the most secure platforms/organisations, including the likes of Facebook and Apple falling prey to cybersecurity breaches, data is at perpetual threat.

Further, the COVID-19 pandemic forced organisations to work from home which has created major opportunities for hackers.  This is all the more alarming when considering that most organisations are still in their nascent stages of adoption of AI for cybersecurity.

With individual data and privacy at stake, the role of Artificial Intelligence in business has grown beyond its initial technological capabilities. Data security experts are already in the act of identifying unique applications of Machine Learning and NLP algorithms to understand and track data security breaches and rectify the same, added a Day One report.

Gartner, forecasts that the worldwide cybersecurity market will reach 170.4 billion dollars by 2022. With the average cost of a data breach being $8 million, the need to protect your business’s information is at an all-time high. Hackers are working round the clock to find vulnerabilities in your system. Social engineering, phishing, and malware attacks are examples of the increasing attacks.

Cyber Security is going to be one of the fastest-growing industries in India. With more people working from home now, there has been an increase in the number of Cyber Security incidents, an EC Council University Blog added.

A joint study by PwC India and Data Security Council of India (DSCI) shows that India’s Cyber Security market would reach USD 3.05 billion by 2022 at a compounded annual growth rate (CAGR) of 15.6 per cent, which is almost 1.5 times the global security market rate. This increase has led to a spike in demand for Cyber Security experts, for they are the only ones who will keep intact the data security of a corporation.

 SA Enterprise & Cloud Cyber Security Summit

In order to get more insights on these areas, W.Media is hosting its digital event SA Enterprise & Cloud Cyber Security Summit.

Renowned thought leaders and industry experts will be a part of this event IPS Loknath Behera, Managing Director, Kochi Metro Rail Ltd, Burgess Cooper, Cybersecurity Partner & Deputy Leader, EY India, Neeraj Bhople, Head – Technology & Engineering – DFB, Mahindra Finance, Shobhana Lele, CIO, The Bombay Dyeing & Manufacturing Co. Ltd, Srinivasa Rao Muppaneni, Group CIO, Telangana State Cooperative Banks, Venkata Satish Guttula, Director – Security, India Ltd, Vinod Bhat, CIO, Vistara – TATA SIA Airlines Ltd, Krishnamurthy Rajesh, Head – Information Technology, ICRA Limited, Pawan Chawla, Chief Information Security Officer, Future Generali India Life Insurance Company, Gopi Thangavel, Vice President & Head of Enterprise Infrastructure, Operations & Projects, Reliance Industries Limited, Vishal Sinha, CIO & CISO, TranzLease Holdings (I) Pvt. Ltd, Milind G. Mungale, Executive Vice President & CISO, NSDL e-Governance Infrastructure Limited, Amit Rathore, Senior Manager – Cloud Transformation – CIO Advisory, KPMG UK, Navaneethan M, Senior Vice President- Chief Information Security Officer & Head-IT, Groww, Shashank Bajpai, CISO, ECGC Ltd, Vijay Kumar Verma, SVP & Head, Cyber Security Engineering (CSE), Reliance Jio Information Security Group, Tushar Zade, CIO & CDO, Aurigene Pharmaceutical Services Ltd and Ashok Tiwari, Head IT, Sequent Scientific Limited.

The event will consist of a series of panel sessions and presentations focusing on the cybersecurity trends, the effect and drivers of cybersecurity in 2022, future proofing the cybersecurity strategies, integrating AI with cybersecurity, monitoring the vulnerabilities in cloud computing and the landscape of cybersecurity and IoT to name a few.

Here’s a sneak peek of what our thought leaders have to say:

“Cybersecurity is not a hindrance but it compels a cautious and proactive approach in the Digital Transformation journey. Applying the dual principles of “Better safe than sorry” and “achieving competitive edge with technology”, one needs to make Cybersecurity and Cyber Surveillance part of the process in Digital Journeys,” said Shobhana Lele, CIO, Bombay Dyeing & Manufacturing Co. Ltd.

“Cybersecurity Is not only IT leaders’ consideration when it comes to digital transformation, but also the second biggest investment priority since Investments in transformative technologies can prove to be meaningless if they can’t protect the business. Security governance is the call of time, regardless of whether highly publicised breaches of high magnitude were directly linked to digital transformation, it forced IT leaders to relook risk and solutions that can minimise risk,” said Vishal Sinha, CIO & CISO, TranzLease Holdings (I) Pvt. Ltd.

“As Cyberattacks are increasing day by day, with an average cost of a breach reaching $4.24 Million, the highest in 17 years, Cybersecurity is to be built in the digital transformation journey rather than be locked at as a hindrance in Digital Transformation,” said Pawan Chawla, Chief Information Security Officer, Future Generali India Life Insurance Company.

“Cybersecurity is not a hindrance, it is a topic that we need to embrace with any digital transformation. It should be presented, clearly understood and adopted from strategy to implementation. Enterprises benefits if the right set of controls are considered in very early stage to avoid any issues in the future,” said Amit Rathore, Senior Manager – Cloud Transformation – CIO Advisory, KPMG UK.

“Cybersecurity is not a hindrance but a necessary challenge that organisations need to deal with in their Digital Transformation journey,” said Neeraj Bhople, CTO, ANDD Tech Services.

“Today, most of the organizations are undergoing their Digital Transformation journeys. Companies these days are re-imaging & even forming newer line of businesses with Digital platforms for acquiring & retaining the customers. Increased digital transformation increases the need for cyber security.

Setting up a robust information security architecture and keeping it up to date is extremely important for growing businesses of the future,” said Tushar Zade, CIO & CDO, Aurigene Pharmaceutical Services Ltd.

“Cybersecurity should not be seen in isolation. For a seamless Digital Transformation Journey, Cybersecurity is fundamental and should be integrated into the operating model from the very beginning,” said Vinod Bhat, CIO, Vistara – TATA SIA Airlines Ltd.

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