Page 45 - Cyber Defense eMagazine for September 2020

Cyber Warfare and Its Impact on Businesses

By Kumar Ritesh, Founder and CEO, CYFIRMA

Over the past two decades, businesses, governments and the public have all witnessed unprecedented
growth in the digital economy. From the design of critical infrastructure to the sale and purchase of a
simple pen, all this can be done on a digital platform. But every evolution has a parallel, and this is true
for digitization. Threat actors and their attack surfaces have evolved, expanded, and are now replacing
the traditional combat war with a new approach – the Cyber Warfare.

Since the turn of the 21st century, the world has seen a shift from traditional combat to cyber warfare.
One of the main factors for this shift is the fact that digitization has now become part of the very fabric of
growth for organizations, and with it, the increased attack vectors.

According to IDG 's 2018 Digital Business Survey, 89% of organizations have already adopted or are
pursuing a digital-first strategy. Of the 7 per cent respondents who fully implemented this strategy, almost
one-third (32%) said that digital transformation has already helped their organization achieve an average
increase of 23 per cent in revenue growth.

Governments have become increasingly aware that digitization and its advanced networks are now the
driving force of a country's economy. From the financial sector, including banking services, to sectors
such as transport, power and utilities, everything is digitally controlled and monitored by computers.
Intelligence agencies are particularly focused on cyberattacks on businesses that control key and critical
infrastructures such as nuclear installations, defence services, hospitals and air traffic.

Cyber Defense eMagazine – September 2020 Edition 45
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