A new report published by Frost & Sullivan indicates that this year may be one of the most important years for technological innovation, but will this be at the cost of cybersecurity?
2020 is believed to be a defining year for industries as the next wave of cognitive, automated, and immersive technologies change the way we do business. The focus is no longer on about technology disrupting the marketplace or digital transformation providing better products and services to customers. Instead, the spotlight is on the digital revolution and how we can utilise digital assets to ensure the long-term sustainability of our business as it evolves with these technologies.
As the influence of AI, 5G, Autonomous X, cognitive devices, and the virtualisation of things advances across all sectors, businesses are at a crucial turning point on how to optimise the returns from their current resources while embracing new business models to create greater value for customers.
Frost & Sullivan presented its annual Asia-Pacific ICT Outlook in Singapore on 14 January. Attended by over 60 senior management and C-suite executives, the result marks the start of an exciting year ahead for the industry.
Frost & Sullivan Cybersecurity Global Program Leader, Mr. Jarad Carleton, spoke on the continued relevance of cyber resilience in the technology space. Carlton said, “In summary, security maturity is not solely about technology, and we must look at organisational culture, processes, individual behaviours as well as our journey to the cloud to understand how to properly secure enterprises today.”
Cyber-attacks have been increasing in severity and frequency over the past two years. In the long term, this can result in negative business impact and erosion of customer trust.
With frequent data breaches occurring in private enterprises and public institutions, customers are becoming progressively more aware of data privacy and calling for better protection. Enterprises must protect customers and their data or face real consequences from customer churn in today’s hyper-competitive environment and government scrutiny as regulatory standards become more stringent.
Richard Wong, Vice President at Frost & Sullivan’s ICT Asia-Pacific Practice, expects AI to be the game-changing technology over the next decade. The exponential growth of big data is anticipated to contribute to the expansion of advanced AI applications. He noted that there is already pervasive adoption of AI across industries such as manufacturing, healthcare, retail, and the public sector.