Tuesday Nov 26, 2024
Tuesday, 26 November 2024 01:54 - - {{hitsCtrl.values.hits}}
Imagine this: your organisation’s operations come to a standstill due to a ransomware attack. Critical systems are paralysed, sensitive data is inaccessible, and customers are left in uncertainty. Each passing minute amplifies the damage—lost revenue, reputational harm, and eroding trust among stakeholders. Recovery costs could run into millions, with long-lasting consequences for your brand and bottom line. This grim reality is what many organisations face in today’s interconnected digital world.
In such a hostile cyber environment, the question is no longer if an attack will happen but when. This is why cybersecurity can no longer be viewed as a standalone IT concern—it is now a business-critical function that permeates every aspect of operations. A robust cybersecurity architecture serves as a shield, safeguarding critical assets, preserving trust, and ensuring resilience in the face of sophisticated threats. It is not just about prevention; it is about preparation, detection, response, and recovery, all working seamlessly to ensure business continuity and growth.
These critical issues will take centre stage at the Cyber Security Summit 2024, organised by the Daily FT and CICRA Holdings in collaboration with several high-profile stakeholders. Celebrating its 10th year, the summit will bring together over 40 global, regional, and local experts to address cutting-edge challenges and opportunities in the cybersecurity space. Held at the Cinnamon Grand Colombo, the event spans multiple engaging segments, including four key panel discussions, a CEO Forum on Cyber Security, Cyber Security Day Conference, Hangout with Hackers (Night Hack), and the Youth Summit on Cyber Security.
Among the key highlights is a session titled “Cybersecurity in the age of AI: New frontiers, new risk,” where Just In Time Group CEO Neranjan Dissanayake will deliver a guest speech and join the panel discussion. His speech, “Empowering Boards: How AI Enhances Decision-Making in Cybersecurity, Risk, and Insurance,” will delve into how AI is revolutionising decision-making processes for boards. By leveraging AI-driven tools, boards can now prioritise cybersecurity threats through real-time insights, simulate financial and operational risks, and identify emerging trends for long-term strategic planning. AI simplifies complex data into actionable insights, enabling better governance, proactive risk management, and resilience-building. Additionally, it enhances incident response planning and supports decisions on impactful investments, empowering boards to navigate today’s challenges with confidence and clarity.
This shift from prevention-focused strategies to holistic resilience involves embedding cybersecurity across the organisation. It starts with a cultural change: leadership must view cybersecurity as a strategic enabler rather than a cost centre. Boardroom discussions must prioritise digital risks, with clear accountability for cyber resilience at the highest levels. Furthermore, employees at every level must be equipped to recognise threats and act as the first line of defence, fostering a collective responsibility for security.
Cybersecurity in the age of AI: New frontiers, new risk
As artificial intelligence (AI) becomes more integrated into every aspect of business operations, it simultaneously introduces unprecedented opportunities and risks. While AI enhances cybersecurity tools by enabling faster threat detection and improved analytics, it also equips cybercriminals with powerful new methods for orchestrating attacks. Threats such as AI-driven phishing scams, deepfake-based fraud, and automated hacking tools are increasingly blurring the line between man-made and machine-generated risks.
The panel discussion, “Cybersecurity in the age of AI: Navigating new threat landscapes,” will explore these challenges in depth.
Offering his insights, Dissanayake noted: “AI is a double-edged sword in the cybersecurity landscape. It empowers defenders with predictive analytics and real-time response mechanisms but also creates sophisticated tools for attackers. To stay ahead, organisations must embrace an adaptive approach, combining AI-driven solutions with human expertise and a resilient security culture.”
In this context, the conventional strategy of relying on static defences is no longer sufficient. AI-powered tools must now focus on dynamic threat detection, leveraging machine learning to recognise patterns, anomalies, and evolving attack vectors. For instance, advanced algorithms can identify phishing attempts that mimic legitimate communication by analysing subtle linguistic or behavioural cues, enabling organisations to intervene before significant damage occurs.
Equally critical is developing an organisational culture of awareness and adaptability. As attackers evolve, employees and leaders must be trained to recognise the growing use of AI in malicious activities. This includes spotting signs of deepfakes, distinguishing between authentic and fraudulent communications, and understanding how automated tools might manipulate systems. By fostering a culture that blends AI’s analytical power with human intuition and judgment, businesses can better defend against modern threats while ensuring agility in their response to emerging risks.
Just In Time Group’s commitment to cybersecurity
As a leading ICT systems integrator with nearly three decades of experience, Just In Time Group is dedicated to addressing today’s complex cybersecurity challenges with innovative, resilient solutions. By collaborating with globally recognised technology partners, the company empowers organisations to fortify their defences, safeguard critical assets, and build a secure digital future. At the Cyber Security Summit 2024, Just In Time Group reinforces its role as a thought leader in cybersecurity, sharing insights and expertise to help businesses navigate the ever-evolving threat landscape.
A strategic priority for business growth
Cybersecurity is no longer about avoiding risk—it is about enabling growth. A robust cybersecurity framework allows businesses to innovate confidently, pursue digital transformation, and maintain a competitive edge in an increasingly data-driven economy. Think of it as an insurance policy for the digital age. Customers, partners, and regulators are increasingly drawn to organisations that demonstrate a commitment to security and trustworthiness. In this way, cybersecurity is more than a defensive mechanism; it is a value creator that strengthens reputation and enhances stakeholder relationships.
By investing in an integrated, organisation-wide approach to cybersecurity, businesses can navigate the complex digital landscape with resilience and agility. It is not just about preventing attacks or mitigating losses; it is about creating a foundation for sustainable success in the face of ever-evolving threats. Events like the Cyber Security Summit 2024 provide a critical platform for fostering collaboration, knowledge-sharing, and innovative thinking, ensuring that businesses are equipped to face the future with confidence. Cybersecurity is no longer optional—it is an essential pillar of a thriving, future-ready business. The time to act is now.