Digitalization - What are the security implications of the digital economy?

In this first collaborative discussion, students were required to conduct relevant literature research on provided reading lists, relative to security challenges of companies expanding to a fully digital enterprise. In this first post, students were required to provide a post at least 200 words, and consider the following:

  • What is a fully digital enterprise?
  • What are the cyber security challenges/concerns with a fully digital enterprise?
  • What are the cyber security challenges for a bricks and mortar SME wanting to become a digital enterprise?
  • If students agreed with views expressed in a provided article, relative to the ‘energy crisis’ experienced worldwide in 2022?

POST: As computers and technologies have evolved in recent decades, so has the nature of cyber-attacks. From isolated attacks on information systems to intentional, sophisticated cyber threats. According to Spremic and Simunic (2018), as digital technologies are strategically aligned with business strategy, the same should be done with cyber security implementations. But, a true digital enterprise is about more than just adopting singular IT programs, it’s the fusion of digital elements to bring about organizational change and drive efficiency and productivity, whilst implementing security. For example, one of the world’s biggest and famous companies, Amazon, which started as an online bookstore, and have since expanded to become one of the most powerful e-commerce platforms. However, regardless of the size of a business or organization, whether a brick and mortar company or semi-established company, there are cyber security risks surrounding taking this step to becoming a digital enterprise. These smaller companies also face the challenges of bringing staff up-to-speed with the modern technologies and its procedures, types of ever evolving cyber-attacks, as well as cost of implementation of such new technologies. I agree with the expressed energy crisis views. Whether approaching from an environmental or cost view, the facilitation of renewable energy use is on the rise. Technologies such as artificial intelligence, blockchain and robotics can revolutionize the way new energy are produced, to reduce the use of fossil fuels, and benefit cost and our environment.

References: Rossi, B. (2015). Information-Age | What is the digital enterprise. [online] Available at: https://www.information-age.com/what-true-digital-enterprise-31130/ Hanna, K. (N.D). Digital Enterprise. [online] Available at: https://www.techtarget.com/searchcio/definition/Digital-enterprise Spremic, M. & Simunic, A. (2018). Cyber Security Challenges in Digital Economy. [online] Available at: https://www.iaeng.org/publication/WCE2018/WCE2018_pp341-346.pdf Wei, J., Sanborn, S., Slaughter, A. (2019). Digital transformation and the utility of the future |Deloitte Insights. [online] Available at: https://www2.deloitte.com/us/en/insights/industry/power-and-utilities/digital-transformation-utility-of-the-future.html Evans, J. (2022). Energy crisis causes more businesses to switch to renewables. [online] Available at: https://www.raconteur.net/climate-crisis/energy-crisis-causes-more-businesses-to-make-the-switch-to-renewables

Reflection: This was a particularly interesting topic to research, especially due to the fact that looking outside of the box, one may not realize the extent of different components implemented in order to achieve a fully digital enterprise. The research in itself, was very time consuming, however interest provided the fuel to continue and learn about this topic more.