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Deutsche Bank, a leading investment bank, has issued a positive outlook on The New York Times Company and recommended that investors …
The digital transformation during the pandemic has affected many industries and their businesses, leading to shutdowns or unemployment. Adopting new technologies like AI and data analysis has undoubtedly improved the efficiency and flexibility of enterprises. As the digitizing process became rapid, many would not think much about the challenges they could pose in the coming years. Technology can enable businesses and at the same time lead to challenges, and we all need to be aware of that.
The ‘overnight’ digital transformation due to the pandemic has led to a wave of cyberattacks and data breaches. The FBI reported a rapid increase in cyberattacks during the pandemic due to the thousand cybersecurity complaints they’d receive every day. The shift in office space from telecommuting to teleworking and increased digital traffic has increased vulnerability and led to more cyber attacks such as ransomware, identity theft, data breaches, and more.
This scenario will undoubtedly continue in the coming years, and companies need to improve cybersecurity measures to deal with them. Organizations need to train their employees to back up their data, change passwords frequently, and update their system software to provide basic security. Businesses need to be involved in cybersecurity awareness programs among employees. Ensuring cybersecurity will mitigate data breaches and provide a more secure work environment.
A lot has changed since the pandemic, and the sudden transition from office work to remote work was not an easy one to solve. Although remote ecosystems are convenient and enjoyable in many ways, they also have certain challenges and complexities. A Gartner survey of 317 CFOs and CFOs found that 74% plan to permanently move at least 5% of their former employees to remote locations after a pandemic.
As the system continues to operate in the coming years, organizations need to provide better technical support and improve network security for their employees. In such a situation, employees may use personal and public networks without any security protocols, and software upgrades may lag, creating an insecure system. Hence, business organizations will need to implement secure remote connectivity with problem-solving endpoint protection. Employees should be advised not to use personal accounts to store or share professional data but instead use cloud services to share work-related documents. Accepting VPN connections and using a password management system is also required to enhance workflow and protection.
Organizations are still striving to maintain flexibility and resilience and seek scalable and flexible solutions. They also practice continuously to establish better customer relationships and common sense, which may be necessary for the coming years because remote working is here to stay. At the same time, digital transformation will continue to change.
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