Identifying the potential risks of rapid adaptation of technology in the society

Identifying the potential risks of rapid adaptation of technology in the society

            Rapid advancements in technology can have a severe impact on the businesses of the upcoming age. The business leaders operating their companies globally are mainly affected due to the unforeseen effects of technology. Other issues, such as climate change or shifts in political and economic power, seem to have a lesser negative impact than technology (Batson, 2020). Major advancements in big data are posing the threat of cybersecurity. The digital world has increasingly become complex due to the constant cybersecurity challenges. Incidences such as data loss and breaches are causing millions of dollars of harm. The rise of security breaches in corporations is the result of scams and social engineering. The hackers now have access to sensitive information, and they can use the information for causing innumerable harm. Moreover, spear phishing has increased, and hackers are targeting employees in order to gain certain monetary benefits. Today, hackers can send a huge number of emails after disguising their identity. With the rise of digital data, cybersecurity threats have increased as well. When data is available digitally, it is shared on a common network. The hackers can easily gain access to sensitive information, and corporate leaders have been affected. When businesses are shifting towards cloud computing, the additional risks associated with cybersecurity increases as well.

Identifying the probable causes

Cybercrime has increased due to rapid enhancements in technology and increasing usage of the internet. People are depending on the internet for their everyday tasks, and organizations are also conducting their businesses due to the availability of the internet. Consequently, a cybercrime such as phishing, spamming, and hacking has become more common. Again, cybercrime in the modern society has increased because people have easy access to a range of possibilities. Moreover, data can be stored in small spaces, and it has become more accessible for people to steal data. The complexity of data has also increased, and it is now easier for cybercriminals to use this opportunity and cheat big firms (Knapp & Boulton, 2006).

Solutions to the identified problem- A brief description

The future leaders can find effective ways of dealing with the issue. The focus should be upon the creation of an education system that is not focused on profit maximization. The need of the hour is to create an interconnected society. It would be advantageous for future leaders to use economic, technological, and political change. The technology innovators should now focus on enhancing social good. Business models designed to enhance the welfare of the society can be effective. Similarly, future leaders must acknowledge their responsibilities towards society and take advantage of the opportunities presented by the digital revolution (Wadhwa & Arora, 2017). In the coming 20 years, technology has the potential to change the face of every industry. The last 200 years have not even witnessed such rapid change. Moreover, cybercrime-related issues can be tackled by organizations after creating strong passwords using a range of combinations. The security settings must be up-to-date as well.

References

Batson, M. (2020). Grads of Life BrandVoice: 3 Ways To Manage The Pressure Of Hiring Right Now. Forbes. Retrieved 8 March 2020, from https://www.forbes.com/sites/gradsoflife/2020/02/25/3-ways-to-manage-the-pressure-of-hiring-right-now/#322d7e28267e

Knapp, K. J., & Boulton, W. R. (2006). Cyber-warfare threatens corporations: Expansion into commercial environments. Information Systems Management, 23(2), 76.

Wadhwa, A., & Arora, N. (2017). A Review on Cyber Crime: Major Threats and Solutions. International Journal of Advanced Research in Computer Science, 8(5).