Focused Story Of The Week #1: Cybersecurity Today: The Way Forward For Enterprises
As organisations continue to operate in a post-pandemic world, the risks and uncertainties endured during Covid-19, such as hybrid workforce, supply chain risk, have furthermore led to an increased threat of ransomware, phishing attacks, malware and other cybersecurity breaches, for which organisations globally are estimated to spend a total of USD 188.3 billion on information security and risk management products and services by 2023, according to a Gartner analysis. The cybersecurity market is expected to reach USD 403 billion by 2027, with a CAGR of 12.5 per cent, which in return, has also spurred a global opportunity for startups to grow and prosper in the cybersecurity market, as the world becomes more reliant on technology and digital assets.
In the fight against cybercriminals, the integration of AI/ML and cloud is playing an integral role in helping to boost cybersecurity for businesses across industries and business categories. While AI assists in spotting anomalous usage patterns, ML assists computers in imbibing these patterns to effectively stop and protect against cybercriminals. On the other hand, cloud security is expected to increase security investment by 11.3 per cent in 2023.
With cybersecurity expanding and improving at a rapid pace and different solutions being provided to enterprises, it is safe to conclude that cybersecurity will soon be adopted by a growing number of organisations worldwide, heading towards greater data and infrastructure protection.
"Building and investing on a strong cybersecurity infrastructure will play a pivotal role for the sustainability and security of enterprises of the future."
Focused Story Of The Week #2: AI in Healthcare: A Potential Game Changer For The Indian Economy
AI is becoming more competent at doing what humans do, but more efficiently, swiftly and cheaply. Both AI and robots have enormous potential in healthcare and are gradually becoming a part of our healthcare eco-system.
AI spending in India is predicted to reach USD 11.78 billion by 2025 and add USD 1 trillion to the Indian economy by 2035. Realising the economic promise of AI in healthcare necessitates careful evaluation and risk reduction. AI maturity in healthcare needs significant investments in workforce capacity, data and infrastructure, governance and regulatory procedures, design and processes, partnerships and stakeholders and innovative business models. Integrating AI into healthcare systems necessitates a foundation of AI in the national curriculum for medical students. The government must also invest in and create public-private partnerships across the healthcare industry to promote coordination among academia, government, industry, NGOs and patient advocacy organisations.
The pandemic and widespread use of healthcare technology has brought about a sea of change in India and throughout the world. In India, the healthcare sector has begun to incorporate AI across the healthcare value chain, from patient care to medical management to disease prevention. And, if India can implement the above-mentioned measures, there is little question that AI in healthcare would be a trillion-dollar potential for India.
"AI is going to be the catalyst to the evolution of the healthcare industry that we have all been waiting for."