As the digital economy plays a more prominent role in the global economy, it expands the potential for cyber intrusions. To combat this growing threat, new security architectures will be required that can leverage automation to provide real-time and predictive analytics at the edge. The shift to new cybersecurity solutions is expanding, especially at the edge, due in part to COVID-19. The pandemic has accelerated the move to a more connected and digitally oriented society. At the same time, it has expanded the attack surface for new cyber threats across each industry by extending corporate walls into employee homes. Consequently, companies and consumers must now devise an approach that combats pernicious new forms of cyber intrusions, privacy invasions and identity theft.
Cybersecurity concerns continue to mount as CIOs perceive “work from home” environments to be intrinsically less secure. Faced with inadequate resources and equipment to work from home, some workers have resorted to using personal equipment or sharing passwords that compromise secure work environments. Other workers have been sharing work equipment with their children to help them attend on-line school or complete homework. In either scenario, the likelihood of cyber intrusions increases. This new threat vector is providing tailwinds for many forms of security: cloud application security brokers, secure-web gateways, vulnerability management, end-point detection and remediation, two-factor authentication, firewalls-as-a-service and API security gateways.
Like the shift in remote working and learning trends, edge computing will require a new network layer and raise security complexity. Edge computing represents a move to a more distributed architecture where resources are closer to the user and may traverse shorter distances. Serving billions of edge devices is both a compelling opportunity and challenge. For example, hacks for electric vehicle key fobs have been posted on the internet and demonstrate how connected vehicles are new insertion points for cyber intrusions that will require novel or enhanced forms of security.
We see prospects for robust growth in cybersecurity-related technologies and networks that can authenticate and protect both edge devices and the burgeoning digital economy.
Rob Zeuthen, senior portfolio manager, Mellon.