Tag: Data Breaches

Over the last few decades, innovative technologies have changed the future of business dynamics. Therefore, every industry uses the latest technologies to move forward, and CIOs are responsible for driving such technological changes within organizations. According to Globe Research, it has been witnessed that more than 27.7% of digital transformation for better customer experience (CX) initiates are sponsored or owned by CIOs, which indicates the rapid change in customer expectations.

For a better understanding and deployment of innovative digital transformation, CIOs need to work closely with other C-suites and department managers to enhance the customer experience and gain a competitive advantage in this digitized world.

Innovate the Customer Journey

With the recent development of technologies, companies are accelerating their business to attract innovative services and retain customers looking for a better-personalized experience, fast and secure applications, or software. Further, the new applications enable dynamic online ordering operations, such as same-day delivery or pickup, which helps customers interact with the organizations instantly.

For a better understanding of the applications or software, CIOs and business leaders can come up with an entire customer journey strategy involving the front end and the back end, making sure the circle is completely connected. Let’s consider the example of Zara, a multinational fashion company that announced that they are closing their 1200 stores across the USA and will start investing in developing an integrated omnichannel journey that will cost more than $3.1 million. This revolutionary change will help e-commerce, the supply chain industry, software development companies, and inventory management companies take innovative steps and make proactive approaches to problems and opportunities to identify resolutions.

Digital transformation, especially to upgrade the customer experience, is a journey; therefore, CIOs must be ready to restructure their strategies numerous times so that they fit their business objectives and goals. However, to embrace such change, CIOs are required to collaborate with every business leader and employee in the organization to increase the speed of executing data strategies, improve the customer experience, and conduct continuous reassessment of the change management process.

To Know More, Read Full Article @ https://ai-techpark.com/3-innovative-cio-strategies-for-enhanced-customer-experiences/ 

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The Internet of Things (IoT) represents one of the most significant technological evolutions of our time. With the proliferation of connected devices, from home appliances to complex industrial machinery, IoT has seamlessly integrated into the fabric of our daily lives. This integration has not come without its challenges, particularly in terms of security.

As IoT devices become more ubiquitous, they also grow in complexity. The sensors, connected medical devices, and critical infrastructure systems we rely upon every day are now composed of countless components sourced from an increasing number of providers. This complexity is not just a matter of physical parts but extends deeply into the software that powers these devices.

Amidst this complexity lies a significant concern: data security. Many IoT devices manage data within corporate control environments, but this data is often sensitive and proprietary. The marketplace, unfortunately, is rife with misinformation and misunderstandings, leading to valid concerns about unauthorized access, data breaches, and privacy violations. These concerns are well-founded, as the potential risks include vulnerabilities in critical medical devices, connected vehicles, and key infrastructure systems, which could have significant impacts if exploited.

The Intricacies of IoT Device Software Supply Chains

Embedded devices, which form a substantial part of the IoT ecosystem, consist of intricate layers of third-party software. Unlike cloud or web software, these devices often include proprietary software from various hardware components, making the supply chain more complex and opaque. This complexity is compounded by the fact that these hardware components often come with less available public information than, for example, open-source projects on GitHub. This scenario demands a high level of software transparency, especially given the slower and less frequent update cycles in realms requiring device recertification.

The Critical Need for Software Transparency in IoT

Software transparency in IoT is not merely a best practice; it is a necessity. The complexity and opacity of embedded device supply chains make it nearly impossible to effectively assess and manage security risks without a clear understanding of the software components within these devices. This transparency becomes crucial in light of recent regulatory pushes focusing on IoT and embedded system security, such as the European Union Cyber Resilience Act (EU CRA) and the NIST Cyber Trust Mark.

The future of IoT security is a collaborative effort, one that requires manufacturers, software developers, and security experts to work together. It involves not only implementing robust security protocols but also embracing transparency at every stage of the development and deployment process. As we continue to invest in standards like SBOMs and VEX, and collaborate with industry leaders, we are paving the way for a future where IoT devices are not just functionally robust but also secure and transparent.

To Know More, Read Full Article @ https://ai-techpark.com/enhancing-iot-security-through-software-transparency/

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The acceleration in the adoption of cloud technology has revolutionised the business landscape, and in doing so, significantly altered the cybersecurity ecosystem. The vast potential of cloud technology, such as its scalability, adaptability, and cost-effectiveness, has not gone unnoticed by nefarious entities seeking opportunities for exploitation. As businesses across ASEAN continue their transition to the cloud, they are increasingly confronted with escalating incidents of data breaches, ransomware attacks, and insider threats.

Therefore, it’s vital for organisations to devise and implement a robust cloud-specific incident response plan. Such a plan can help minimise the impact of security incidents, accelerate recovery time, and ensure optimal data protection in this rapidly evolving digital space.

Cloud Incident Response (IR) today needs to grapple with a radically different set of challenges, including data volume, accessibility, and the speed at which threats can multiply within cloud architectures. The interplay of various components, such as virtualization, storage, workloads, and cloud management software, intensifies the complexity of securing cloud environments.

That being said, Cloud IR cannot be done in isolation of the company’s overall incident response activities and business continuity plans. When possible, cloud security tools should use the same SOC, SOAR, and communication tools currently being used to secure other company elements. Using the same infrastructure ensures that suspicious and threatening cloud activities receive an immediate and appropriate response.

Creating an effective response plan involves understanding and managing the unique cloud platforms, being fully aware of data storage and access, and adeptly handling the dynamic nature of the cloud. Specifically:

Managing the Cloud Platform: The administrative console, the control centre of each cloud platform, facilitates the creation of new identities, service deployment, updates, and configurations impacting all cloud-hosted assets. This becomes an attractive target for threat actors, considering it offers direct access to the cloud infrastructure and user identities.

Understanding Data in the Cloud: The cloud hosts data, apps, and components on external servers, making it crucial to maintain correct configurations and timely updates. This is vital not just to prevent external threats, but also to manage internal vulnerabilities, such as misconfigurations, given the inherent complexity and size of cloud networks.

In conclusion, as businesses in the ASEAN region increasingly embrace cloud technologies, the need for a well-defined cloud IR plan has never been more crucial. By efficiently identifying signs of cloud-based threats, mitigating breaches, and limiting or eliminating damage, organisations can secure their cloud infrastructures, enhance their response processes, and reduce time to resolution.

To Know More, Read Full Article @ https://ai-techpark.com/strengthening-your-cybersecurity/ 

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Black Friday and Cyber Monday are excellent opportunities for customers to get hold of some great deals, while for retailers, it is an outstanding time to clear up their stocks. But, unfortunately, even cybercriminals utilize this time to execute scams and crimes that affect businesses.

According to global collective research in 2022, there is $41 billion in fraud damages reported from the e-commerce industry. However, it is anticipated that by the end of 2023, the loss will surpass $48 billion.

As cyber criminals initiate new routine scams around the time of these events, it is the right time for CISOs and other IT teams to step up their vigilance plan of action to counter such malicious attacks and protect their business as well as the interest of their valued customers.

With the help of this article, we will delve deep into some useful tips to create a secure online shopping experience.

Key Actions for Black Friday Cybersecurity

During such frenzied festive seasons, the CISOs and IT managers should be cautious as threat actors are on their toes to ruin businesses with their scams and deceiving tactics.

So, to prevent such incidents here are four essential key actions you can conduct:

Create a Robust Cybersecurity Plan

Planning a robust cybersecurity plan during events and festivals, like Black Friday or Cyber Monday can involve multiple approaches. It has been witnessed that cyber actors are ahead in the game by using tactics like:

Custom site designs for the event or early bird deals to fool customers into clicking on them and impersonating them as your customers.

It has been seen that customers are attracted to clickbait that forces your company to get their sensitive information, like credit or debit card details, addresses, mobile numbers, and many more.

Thus, chalking out the areas where monitoring is needed or what steps and protocols are needed to eliminate these incidents will save you valuable money and resources in turn giving your customers the retail therapy they deserve.

Implement Automated Data Security and Compliance

You need to ensure that your website or application follows all the rules and regulations in terms of data security and compliance.

Implement automated data security and compliance services that scan your network and notify you in real-time of any suspicious activity, which allows you to promptly act before any damage occurs.

Automated solution tools like Scrut, Vanta, Drata, and Tugboat Logic help employees monitor and report threats promptly.

The only standard approach to implement these tools would require adequate routine team training with appropriate knowledge transfer for personnel to operate these tools and defeat cyber criminals ahead of time!

To Know More, Read Full Article @ https://ai-techpark.com/ai-on-black-friday/ 

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