The need for stronger data protection

March 26, 2021


 

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 may 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. We believe 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, in our view 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 a challenge. For example, hacks for electric vehicle key fobs have been posted on the internet and demonstrate how connected vehicles are now 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.

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