Meanwhile, the number of potential ways to breach any given computer system has soared in recent years with the rise of smartphones and tablets, which along with home computers are used to remotely access company systems.
The new era of cybersecurity was a hot topic at the recent RSA tech security conference in San Francisco.
Daniel Ives, an analyst for FBR Capital Markets, says many of the data security professionals in attendance said they are increasing security spending in light of recent high-profile data breaches. He predicts that data security spending could rise as much as 15 percent this year, nearly double 2013′s growth rate of 8 percent.
He estimates that businesses around the world will spend $30 billion to $40 billion this year on cybersecurity.
Ives says that while retailers, financial and health care companies have the most to lose in the event of a cyberattack, any company that so much as uses mobile phones or puts customer data on their networks is also at risk.
“Getting on the cover of The Wall Street Journal in some cyberattack is a CIO’s worst nightmare,” he says.
“They’re the bodyguard and the linchpins of the companies they work for more today than ever before, because of the amount of data that’s out there.”
And companies aren’t the only entities at risk for data breaches. Universities also handle vast amounts of personal information.
Gerry McCartney, Purdue University’s system CIO, says public universities also face the challenge of remaining transparent while protecting everything from student social security numbers to the research of its professors.<< previous 1 2 3 4 next >>