According to Dr Prakash Christiansen, Vice President of SAN Group of VulsanX, sectors showing most interest in protecting their data and procuring cyber protection are finance and insurance.
He said this in his seminar Cyber Security: Digitalisation Impact on Corporations.
“Globally, only 23% of the construction industry are covered under cybersecurity as many do not give it priority. In Malaysia, the construction industry does not really know the science behind the protection,” he said.
In the construction world, once hacking has happened, a company’s entire blueprint can be stolen and this breach can result in substantial financial loss, reputation damage and legal consequences.
As such it is important for companies to take a proactive approach towards protection instead of waiting until a breach has occurred.
Christiansen added, “A company can outsource its risk to a cybersecurity professional to take care of cyber protection 24/7 while the company proceed with their business. The fact remains that it is not technology that fails the business but humans who are the weak link.”
As construction moves into the future, the world of AI and Big Data Analytics play an important role as digital technology is progressing. Inevitably, cyberspace becomes limitless and borderless. While technology improves and has a positive impact on organisations, cyber threats exist.
It is therefore important to gain knowledge of cybersecurity in order for organisations to protect their internet connected systems including hardware, software and data, he added.
Christiansen graduated with a Master in Business Administration majoring in Management in Information Systems from the University of Ballarat, Australia and has 20 years of working experience in the cybersecurity field and has given numerous talks on many platforms.