Technology Unwrapped

Unfortunately, ransomware attacks are now more common: Your business is hit by ransomware, and your valuable and sensitive data is locked by cyber criminals demanding an exorbitant ransom fee. You can’t afford to pay for it. But there's a twist now, some ransomware gangs are offering victims payment extension options.

A 2023 report by Cybersecurity Ventures predicts that midsize businesses spend about $826 to $653,587 on cybersecurity incidents. It further asserts that the costs of cyber crimes will reach an estimated $10.5 trillion by 2025. The constant increase in the cost of cyber attacks in business is a message for Chief Financial Officers to take adequate threat-detection measures so that their organization doesn't become victim to a security incident.

Artificial intelligence (AI) is an exciting frontier for businesses and, unfortunately, hackers. It is considered a highly beneficial tool for humankind. However, like humans, AI has a light and dark side to the force since both cybersecurity experts and malicious actors use AI to benefit their objectives and work. While AI and machine learning algorithms significantly benefit midsize businesses, it is crucial for business leaders to know what is happening and how it impacts their business. A ...