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Showing posts with label cybersecurity for businesses. Show all posts

6 Cybersecurity Mistakes That Put Businesses at Risk

 

In today’s digital-first economy, technology is a vital part of every business, from small local operations to international corporations. However, the growing reliance on tech also brings significant risks. With over half of global businesses reportedly suffering financial losses of at least $300,000 due to cyberattacks, it’s clear that cybersecurity must be taken seriously. Despite this, many organizations still fall short in their implementation, not because of a lack of awareness but due to a range of common yet critical mistakes. 

One frequent issue is a misalignment between a company’s risk tolerance and its cybersecurity efforts. Many businesses either overestimate or underestimate the level of security they need. Without a clear, shared understanding between executive leaders and IT teams on how much risk is acceptable, businesses may implement overly restrictive controls that disrupt operations or leave gaps that hackers can exploit. It’s essential to strike the right balance by openly discussing risk appetite and making security decisions that support overall business objectives. 

Another major problem is the failure to conduct thorough and regular risk assessments. Some organizations rely too heavily on automated tools, skipping manual checks or human analysis that can identify deeper issues. Effective risk assessment goes beyond just identifying technical vulnerabilities — it must also consider employee behavior, third-party risks, and the potential impact on operations. A comprehensive, ongoing evaluation provides a more accurate picture of where improvements are needed. 

Many companies also make the mistake of sticking to outdated or rigid security strategies. Cyber threats are constantly evolving, so security strategies must be flexible and reviewed regularly. A well-developed plan should clearly outline responsibilities, set measurable goals, and be adaptable enough to respond to emerging threats. Without consistent reviews and updates, businesses leave themselves open to new and unexpected forms of attack. Ignoring software updates and patches is another common oversight. Failing to apply critical updates can leave systems vulnerable to known exploits. Organizations need structured patch management routines, including regular scans and prioritized deployments. Using automated tools can help streamline this process, especially for larger teams. 

Data protection is another area where businesses often fall short. Equally important is having a strong backup strategy. A 3-2-1 backup system — three copies of data on two different media, with one off-site — ensures that data can be recovered quickly and reliably. Regular testing of these backups is crucial to ensure they work when needed.

Finally, treating cybersecurity as a one-time setup rather than an ongoing process can leave a company dangerously exposed. Installing antivirus software or enabling multi-factor authentication is just the start. Continuous monitoring and improvement — including real-time threat detection, regular audits, and employee training — are necessary to stay ahead of cybercriminals. Human oversight is just as important as technical tools when interpreting alerts and responding to threats effectively. 

Avoiding these common cybersecurity mistakes can significantly strengthen a business’s defense against attacks. Protecting your digital assets doesn’t require the most expensive tools — it requires the right strategies, regular evaluations, and a culture that values security. With a proactive, informed approach, businesses can reduce risk, maintain customer trust, and ensure long-term resilience against evolving cyber threats.

AI Revolutionizes Cybersecurity: Businesses Leverage AI to Combat Advanced Cyberattacks

 

Staying ahead of cybercriminals is a constant challenge, especially for smaller businesses. To tackle this issue, many companies are now adopting artificial intelligence (AI) for cybersecurity, even without in-house experts. Recent data from financial news site Pymnts reveals that the adoption of AI-powered cybersecurity systems by chief operating officers (COOs) has tripled since early 2024. In May, 17% of COOs surveyed reported using AI for cybersecurity. By the end of 2024, this figure had surged to 55%.

This rise underscores how AI is not only enabling malicious actors to launch sophisticated attacks but also helping organizations fortify their defenses. While the Pymnts survey focused on larger firms, it’s evident that AI can significantly enhance small businesses' ability to fend off cyber threats, much like it aids in scaling operations.

According to the survey, COOs are increasingly turning to AI-powered tools because “companies face the threat of cyberattacks that are growing more sophisticated.” This aligns with broader findings that generative AI tools have made hacking simpler. Throughout 2024, major tech companies such as Google and Microsoft introduced AI-driven cybersecurity solutions to combat this growing risk. At the Munich Security Conference in February, Google CEO Sundar Pichai acknowledged concerns about AI amplifying cybersecurity issues. While he agreed that such fears are justified, Pichai maintained that “AI tools can yield positive cybersecurity benefits.”

The Pymnts data validates Pichai's assertion, as more COOs consider AI an “essential tool for protecting organizations from security breaches and fraud.” Beyond addressing immediate threats, these tools are driving long-term security innovations. Additionally, companies implementing AI cybersecurity solutions reported saving an average of 5.9% in annual revenue, with some achieving savings as high as 7.7%. Respondents predict AI will become “fully embedded” in their organizations within seven years.

AI is transforming how IT departments address cyber threats. The technology automates initial responses during cyberattacks by analyzing large datasets, enabling faster resolutions. AI can also shift cybersecurity strategies from reactive to proactive by identifying threats like phishing attempts before they cause harm.

The urgency for smarter cybersecurity has grown as AI democratizes the ability to launch cyberattacks— an activity previously requiring advanced coding skills. CJ Moses, Amazon’s Chief Information Security Officer, noted that hacking attempts targeting Amazon had increased more than sevenfold in just six months, primarily driven by AI tools.

Although the Pymnts data primarily reflects trends in larger firms, the accessibility of AI means smaller businesses can now deploy advanced cybersecurity solutions without needing specialized technical expertise. This democratization empowers businesses of all sizes to safeguard their data and operations in an increasingly digital world.