The Importance of Cybersecurity in the Digital Economy

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A recent CNBC report has shed light on the critical need for cybersecurity measures within the digital economy.

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Why Cybersecurity Matters

As different technologies emerge in our world, they are becoming more and more susceptible to being hacked and otherwise targeted by cybercriminals. To make matters even worse, MIT Initiative on the Digital Economy director Erik Brynjolfsson has stated that both individuals and businesses lack the proper regard for cybersecurity. According to Brynjolfsson, the tools to combat cyber crimes are available; however, in order to employ these tools, the director explains that people must start “taking [cybersecurity] seriously.”

In recent years, enterprises from small businesses to established companies like Google have faced cyber attacks. Moreover, being on the receiving end of such attacks can be very damaging, both professionally and financially. Enterprises which lack the proper means to recover from such attacks can (and have) permanently go(ne) out of business.