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Emerging Cybersecurity Threats

While beneficial, tech advances can cause security concerns for businesses. Cyberthreats, which are at the top of many businesses' minds, have driven increasing investment dedicated to enhancing data protection. Organizations are accelerating cybersecurity initiatives to counter emerging threats.

The potential of artificial intelligence (AI) became evident a few years back, alongside the risks it poses. Unlike other threats, AI-driven attacks are unique due to their adaptive and evasive nature. Threat actors can develop AI-powered malware that generates personalized and convincing messages, deceiving users into revealing personal information and providing access to sensitive data. Automation capabilities inherent in AI facilitate rapid, large-scale attacks that can overwhelm conventional security defenses.

Deepfakes, AI-generated synthetic media, represent a significant threat. These manipulated audio-visual media convincingly impersonate individuals, eroding trust and causing reputational damage across personal and organizational domains. They can also escalate geopolitical tension by spreading false information, manipulating public opinion, or fabricating events that never occurred. Malicious actors can also manipulate the financial markets through fake news and rumors and engage in blackmail or extortion.

AI-driven threats warrant AI-powered countermeasures. Companies should invest in machine learning-driven security tools like AI-based intrusion detection systems for anomaly detection. Just as threat actors use AI to automate attacks, businesses should implement AI-powered security orchestration, automation, and response (SOAR) platforms to streamline defenses. SOAR integrates various security tools, automates routine tasks through predefined procedures, and employs AI-driven incident response. Detection tools and algorithms that can identify deepfake artifacts are crucial for distinguishing between authentic and synthetic content. Training staff to recognize suspicious behaviors also helps maintain a strong security posture.

Quantum computing advances, while promising, present cryptographic challenges. Google's Willow quantum chip demonstrates computational capabilities exceeding classical supercomputers by many magnitudes. It can complete calculations in minutes that would have previously take 10 septillion years. This much processing power threatens current encryption standards, rendering algorithms like RSA (Rivest-Shamir-Adleman (RSA) vulnerable to rapid decryption. Organizations can address these threats by supporting the research and development of quantum-resistant cryptographic algorithms, continuously monitoring technological advances, and collaborating with private and public entities to explore secure solutions.

Ransomware threats have also evolved beyond traditional attacks. Previously, only tech-savvy individuals could hold sensitive data hostage. Now, ransomware as a service (RaaS) enables even less knowledgeable users to launch attacks by renting kits. Double extortion tactics, where attackers demand ransom while threatening to expose stolen data publicly, are another major concern. Mitigation requires a multi-layered approach that includes traditional measures, such as regular offline backups and security updates and patching, alongside advanced Endpoint Detection and Response (EDR) systems for real-time threat monitoring and containment.

Business email compromise (BEC) targets individuals and organizations that frequently conduct wire transfers. Scammers employ social engineering tactics, initially researching their targets and monitoring email activities to recognize communication patterns. They then use email spoofing or account takeover to impersonate trusted parties, vendors, and executives, tricking victims into initiating wire transfers. BEC attacks can result in substantial financial losses, identity theft, and sensitive data leaks. Preventive measures include implementing secure email gateways, enforcing multi-factor authentication, and using secure payment platforms. AI-driven tools like Microsoft Defender for Office 365 enhance BEC detection.

5G network deployment expands the cyberattack surface due to potential weaknesses within unverified hardware and software components. Numerous devices connected to 5G networks, including Internet of Things (IoT) devices, create multiple entry points for attackers, complicating security management. High-bandwidth, low-latency 5G infrastructure enables fast and complex attacks on a large scale. Securing 5G infrastructure requires implementing stronger encryption protocols, having a secure network architecture, and deploying software-defined security solutions with strict access controls. These measures protect sensitive data transmission across 5G networks while maintaining operational efficiency.

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How to Thrive in a Changing CME Landscape

The communications, media, and entertainment (CME) industry is experiencing significant technological and consumer behavior changes and an increase in new platforms and services that appear to replace established business models. To successfully adapt, companies must develop new strategies that help them quickly respond to new possibilities and problems. This necessitates ongoing innovation, experimentation, and cross-functional teams that can build an adaptable culture.

Taking advantage of the industry's digital revolution is a critical strategy for survival. New technologies such as artificial intelligence (AI), augmented reality (AR), virtual reality (VR), and cloud computing will increase customer experience and operational efficiency, satisfying changing customer needs.

Focusing on customer experience is another technique to gain an advantage over competitors. Prioritizing customer requirements and preferences results in greater customer satisfaction. This can be accomplished by investing in customer analytics and establishing a feedback loop to encourage continual improvement.

In the CME industry, data is an asset. Data analysis must be considered while making decisions. Data analytics can help companies monitor customer behavior, market trends, and operational performance. This market requires client focus, innovation, strategic partnering, and data-driven decision-making.

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Types of Cybersecurity Risks

In today’s interconnected world, cybersecurity is paramount for safeguarding businesses against a myriad of threats lurking in the digital realm. As businesses increasingly rely on technology for their operations and interactions, understanding the various types of cybersecurity risks is crucial for developing robust defense mechanisms.

Malware, short for malicious software, encompasses a broad category of software designed to infiltrate, damage, or gain unauthorized access to computer systems. It includes viruses, worms, and trojans. Malware attacks can lead to data theft, financial loss, and system disruption.

Phishing attacks involve the use of deceptive emails, messages, or websites to trick individuals into disclosing sensitive information, such as login credentials, financial details, or personal data. Phishing attacks can result in identity theft, financial fraud, and unauthorized access to corporate networks.

Data breaches involve unauthorized access to sensitive information. Orchestrated to extract customer data, intellectual property, or financial records, data breaches can lead to reputational damage, regulatory fines, and legal liabilities.

Social engineering attacks manipulate vulnerable individuals into sharing confidential information or performing actions that compromise security. Social engineering tactics include pretexting, baiting, and tailgating, often targeting employees through phone calls, emails, or impersonation.

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New SEC Regulations on Disclosing Cybersecurity Threat Risks

A resident of Tampa, FL, Debabrata Biswal is a telecommunications executive who provides a number of digital transformation solutions. Among Debabrata Biswal’s areas of in-depth experience is cybersecurity, and he follows the latest developments in the field.

Focused on tightening cybersecurity in the United States, the Securities and Exchange Commission (SEC) adopted rules in July 2023 that require companies to disclose data breaches each year, as well as material information on their cybersecurity risk profile and governance strategy. At the same time, foreign private companies are being required to make disclosures in a comparable manner.

The rationale, as described by SEC chairperson Gary Gensler, is that having millions of files compromised by a cybersecurity incident, similar to losing a factory in a fire, is material to investors. While numerous companies do deliver cybersecurity disclosures to investors, there is no consistency across companies in this being done.

Interestingly, the new regulations represent a step back from the SEC’s original proposal, which stipulated that companies must publicly declare a cybersecurity expert within management and on the corporate board. That said, the new regulations require that registrants (companies required to file documents with the SEC) detail management's expertise and role in evaluating material risks related to cybersecurity threats, as well as the way in which directors’ oversee risks. The vague wording, however, leaves open just what “cybersecurity expertise” entails, whether it is an academic degree or real world experience, and does not measurably change the status quo.

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Based in Tampa, FL, Debabrata Biswal has decades of experience in business leadership roles across the country. Since 2017, Debabrata Biswal has worked with HCL as a vice president and has helped the technology firm earn several accolades during his tenure.

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Debabrata Biswal HCL: The 4 Types of Devices in the Internet of Things

Residing in Tampa, FL, Debabrata Biswal is the vice president of the Americas branch of Head of Telecom within HCL. Previously, Debabrata Biswal worked as the associate vice president of Infosys. His work encompasses internet technologies such as the Cloud, the Internet of Things (IoT), and wireless functionality. As the number of internet connected and smart devices, such as toaster ovens, smart watches, and Amazon Buttons, increases, IoT becomes larger and more important. This creates somewhat of a problem for data management, as the devices that make up IoT generate a lot of data. These devices can be put into 4 broad categories of increasing complexity. The first category involves devices that are capable of sending short messages when conditions are filled, such as vending machines or light bulbs which can send a message when they are empty or need servicing. The next category are devices that send information continuously such as heart rate monitors, and step counters. The last two categories are the most complex. The third category allows for two-way communication such as home security, as many have an in-home tablet device as well as monitors over doors and windows, and utilize the phone. The final category is rarely seen in home use, but is used a lot in manufacturing as it is defined by its use of artificial intelligence. This type is often a network of IoT for use in factories or traffic control.