| | October 20168CIOReviewBy Santosh Nair, CIO, SiemensAs the world moves towards an all-encompassing digitalized future, every aspect of enterprise continues to be increasingly disrupted by technology. Fueled by the union of Cloud computing, Social Media, Big data, mobile and surging demand for on-the-go access to information, this digital disruption is dramatically reshaping the competitive landscape. Globally, organizations are leveraging digital technologies to enhance business agility and customer experience. Connected devices powered by the Internet of Things (IoT) offer enterprises opportunities to mine vast amounts of data, penetrate new markets, and enhance existing products. However, the rising levels of digitalization are embedded with an inherent set of challenges such as evolving business models, myriad customer engagement patterns, breach of privacy concerns and cybersecurity threats.The rapid convergence of organizations, devices and people coupled with the widespread digitalization of our world offer cybercriminals newer vulnerabilities to exploit. Increasing usage of Smartphones and the Internet has made organizations' business-critical information both accessible and vulnerable. Moreover, as the digital touchpoints between people and devices multiply, additional access routes to organization and personal information will be increasingly available. Therefore, it is no longer surprising that the size, severity and frequency of data breaches continue to grow--some of the largest incidents of data breaches ever occurred in 2013 and 2014 affecting banks, governments, retailers, and many more entities. In a world that is being closely knit by digitalization, cyber spies, cybercriminals and cyber activists have at their disposal advanced capabilities to endanger businesses. Profits harvested by the cybercriminal networks are being ploughed back into research and development. These criminal networks will also invest generously to conduct in-depth research of potential targets and leverage their expertise to identify newer loopholes to infiltrate `secure' networks. Today, the sophisticated expertise developed by cybercriminals rivals those harbored by a select few in the past. What is Headquartered in Munich, Germany, Siemens Limited in which Siemens AG holds 75 Percent of the capital, is the flagship listed company of Siemens AG in India that focuses on the areas of electrification, automation and digitalization. One of the leading producers of technologies for combined cycle turbines for power generation; Infrastructure solutions for Smart Cities and transportation; automation and software solutions for industry and also supplier of healthcare equipments, Siemens Ltd. has 22 factories located across India and a nation-wide sales and service network. Emerging Trends in Cyber SecurityOPINIONIN MY
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