Collaborative Discussion Summary: Digitalization - What are the security implications of the digital economy?
A fully digital enterprise is one that adopts new digital technologies, processes, and business models in a way to enhance productivity, reliability, efficiency, connectivity, and customer engagement and satisfaction, and cope with the world’s trend toward electrification, decarbonization, and decentralization (Wei et al., 2019).
Although this digitalization has many advantages, it comes with challenges too. Being a fully digital enterprise creates more vulnerable surfaces due to the use of more networks, devices, cloud services, etc. (Spremić & Šimunic, 2018; Gao et al., 2021). In addition, the pathway to the digital world is not easy. There must be a clear path for the enterprise to follow. This path should be paved with perseverance and dedication to increase the engagement of employees.
Being fully digital, in my opinion, may help alleviate most of the side effects of energy crises like the one that the world has been experiencing this year; 2022. This is because digital technologies and renewable energy go hand in hand due to their roles in providing clean energy, and enhancing efficiency, productivity, and reliability (Marchant, 2022; Wei et al., 2019).
References
Gao, X., et al. (2021) A Study on the Security Implications of Information Leakages in Container Clouds. IEEE Transactions on Dependable and Secure Computing 18(1): 174-191.
Marchant, N. (2022) Davos 2022: The world's first energy crisis and how to fix it. Available from: https://www.weforum.org/agenda/2022/05/first-global-energy-crisis-how-to-fix-davos-2022/ [Accessed 1 October 2022].
Spremić, M. & Šimunic, A. (2018) ‘Cyber security challenges in digital economy’. World Congress on Engineering, 4-6 July 2018 London, U.K.
Wei, J., Sanborn, S. & Slaughter, A. (2019) Digital Innovation Creating The Utility of the Future. Available from: https://www2.deloitte.com/us/en/insights/industry/power-and-utilities/digital-transformation-utility-of-the-future.html [Accessed 28 September 2022].