Cybersecurity Could Emerge as the Biggest Challenge in 2023

Over the next few years, advancements in technology will cause a substantial increase in IT investments within businesses across all sectors. It is estimated that by 2022, spending on digital transformation technologies will amount to a gargantuan $1.8 trillion. If the rapid growth is opening up new opportunities, it also has an added element of risk of doing business in the connected world. Cyber criminals are taking advantage of new and advanced methods to cause considerable damage to organisations’ reputation, which could potentially cause huge financial losses. For businesses, taking the right preventive steps and investing in security measures is just another part of doing business.

India has been one of the most vulnerable countries to cyberattacks since the pandemic, as a staggering 68 percent of companies in the country have experienced some form of attack on their data.