Cyber security enables disruptive technology
In combination, many ‘disruptive’ technologies have significant potential to drive economic growth. In Southeast Asia alone, McKinsey has estimated that between mobile Internet, big data, the Internet of Things, automation of knowledge work and cloud technology, there is the potential to unleash some $220 billion to $625 billion in annual economic impact by 2030. But to fully realise these and other opportunities, these technologies and the infrastructure on which they operate must be trusted. Strong cyber security will enable this.
Internet of Everything. It is estimated that by 2020 there will be at least 50 billion devices connected to the Internet globally. This explosion of connectivity will accelerate innovation in products and services, providing new business opportunities and new jobs.
However, the more connected ‘things’ are, the more targets there are for malicious actors. Part of the problem is that online security has not been considered in the design of many of the devices connected to the Internet. This has made it easier for malicious actors to disrupt and damage networks.
As an example of how vulnerable internet connected devices can be, in 2015 the popular technology website Wired.com reported that security researchers had hacked into the electronics of a US car through its online entertainment system, changing its speed and braking capability before shutting the car engine down remotely. This demonstration led to the manufacturer having to provide software updates for 1.4 million US cars and trucks fitted with the same entertainment system.
Increased connectivity is also changing the relationship between consumers and businesses; it is fragmenting supply chains and business models. In turn, this will affect how people live and work, and how industries and economies perform.
Cloud computing is a key feature of Australia’s increasingly networked society. It provides individuals and businesses with greater data storage capacity, cost savings, convenience and flexibility. However, there are risks associated with cloud computing, including loss of control of data and problems recovering data.
The Government launched its Cloud Computing Policy in 2014, requiring Government agencies to adopt a ‘cloud first’ approach—where it is fit for purpose, provides adequate protection of data and delivers value for money. With the right measures, cloud computing can be used in both the public and private sector to improve cyber security, particularly for small organisations and businesses.
The Australian Cyber Security Centre has also provided guidance on secure cloud computing, including a list of Certified Cloud Services.