Leaders Meet at Mexico Cybersecurity SummitBy María José Goytia | Wed, 06/01/2022 - 17:59
SMEs’ cybersecurity needs have been largely underserved, leading cybercriminals to pivot toward them as new targets for cyberattacks. Meanwhile, Latin America is seeing unprecedent levels of venture capital investment, leading to further fintech growth. In other news, edge computing grows organically as the digital transformation advances.
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Mexico Cybersecurity Summit celebrates its second edition on June 1-3. Industry leaders gathered virtually to discuss Mexico’s evolving cybersecurity threats, risk management considerations and how the new digital reality is forcing companies to reconfigure their infrastructures. If you missed the event, check out the highlights at Mexico Business News.
The cybersecurity needs of SMEs, Mexico’s economic backbone, have been largely underserved when compared to those of larger companies. As cybercriminals pivot toward unprotected and opportune targets, SMEs increasingly pose a significant risk to public safety and, by extension, the country’s economic recovery. An unrelenting wave of cyberattacks have made Mexican SMEs increasingly aware of their cybersecurity vulnerabilities. However, the market has failed to create solutions that cater to them and their budgets. SMEs’ lack of liquidity acts as a proxy barrier to cybersecurity solutions in a market catered to large companies that often qualify for special offers.
In recent months, Latin America and Mexico have seen record venture capital investment numbers. During 2021, the startup sector in the region attracted more capital than in the 10 previous years combined, according to the Latin America Venture Capital Association (LAVCA). Fintech has grown together with the startup ecosystem in the region. In Mexico, the fintech sector grew 16 percent in 2021, according to Fintech Radar. The sector has become increasingly diversified, offering a wide array of financial tools to cater to the equally diverse needs of the market. The growth of these sectors has a snowball effect on the growth of the digital economy, which, in turn, affects economic development.
As companies and organizations move toward digital transformation, they organically incorporate technology in operational, commercial and production processes. They all share the same goals: top-line growth, improving performance, reducing costs, increasing real-time responsiveness and providing users with faster and more reliable services, no matter where the technology was created but how it is applied. To adopt new technologies that help organizations be more competitive, it is critical for Latin American countries to develop infrastructure that supports the growth of businesses.
The primary focus of cybersecurity professionals is to protect data assets from unauthorized access and theft, an unrelenting challenge complicated by the shifting nature of digital infrastructures. Urgency to develop counteractive security solutions has engendered new security controls, solutions and even forced companies to reconfigure their digital infrastructure. Data has become the currency of the digital economy, being the active asset that companies rely on to make informed, real-time business decisions. Data storage and protection have become a primary concern for companies to preserving consumer confidence, stakeholder confidence and business competitiveness.
As technology advances and companies begin to adapt to the changes, different departments within organizations have seen a considerable increase in their importance. A good example is the IT department. For many years, IT was considered a support area for technological solutions. Today, it is one of the most important areas in a company and plays a strategic role in decision-making processes and in any changes and innovative solutions implemented by every organization.