{"id":5329,"date":"2021-09-20T12:47:19","date_gmt":"2021-09-20T12:47:19","guid":{"rendered":"https:\/\/arconnet.com\/?p=5329"},"modified":"2026-03-25T17:12:55","modified_gmt":"2026-03-25T11:42:55","slug":"role-of-it-security-in-annual-gdp-growth","status":"publish","type":"post","link":"https:\/\/arcon.xyz\/staging01\/role-of-it-security-in-annual-gdp-growth\/","title":{"rendered":"Role of IT Security in Annual GDP Growth"},"content":{"rendered":"

Digitalization, GDP Growth and IT security threat<\/b><\/h2>\n

Information Security has taken a center-stage in the nation-building process. It significantly influences the annual GDP of every nation.\u00a0<\/span><\/p>\n

While digitalization is adopted rapidly, the business data flows unceasingly from one device to another, from one IT environment to another. Data generation, processing and analysis of the same builds the foundation for any organization. This is a growth enabler for businesses and organizations. Big data helps businesses and organizations to understand the trends and patterns leading to innovation and experimentation. That in turn contributes to the nation\u2019s economic growth.\u00a0<\/span><\/p>\n

Now, if this sea of information that is generated, shared and stored every minute is not protected from cyber criminals, organizations and businesses might suffer irreparable loss in terms of both finances and reputation. This in turn can impact the national GDP.\u00a0<\/span><\/p>\n

While explaining the role of the internet in GDP growth, McKinsey, in one of its reports, has stated that the internet contributes to 3.5% of global GDP, which is definitely a respectable portion. Moreover, the wave of digitalization has impacted significantly on the wealth and standard of people\u2019s living.\u00a0<\/span><\/p>\n

And it is not just the IT or e-commerce industry, the role of cybersecurity has become critical for manufacturing, pharmaceuticals, financial services among many other traditional industries. It is estimated that around two-thirds of the economic value created over the internet is from traditional industries.\u00a0<\/span><\/p>\n

Gross Domestic Product (GDP) functions as a comprehensive scorecard of a given country\u2019s economic health, hence, the role of IT security cannot be ignored.<\/span><\/p>\n

Who are the threats to IT infrastructure?\u00a0<\/b><\/h2>\n

Compromised Corporate Insiders: <\/b>The insiders<\/span><\/a> are privy to confidential information and business sensitive data, sometimes with privileges to access critical systems.\u00a0<\/span><\/p>\n

Unethical Third-Parties: <\/b>Third-party vendors\/consultants control organization\u2019s data indirectly \u2013 they have access to systems and applications for maintenance and storage purposes that can be compromised.\u00a0<\/span><\/p>\n

Organized Cybercriminals: <\/b>Call them hackers, \u201chacktivists\u201d, or by any other terminology \u2013 the objective is to harm businesses and organizations by stealing\/encrypting\/or misusing the data for financial gains.\u00a0<\/span><\/p>\n

What Measures can be taken to secure Information Assets?\u00a0\u00a0<\/b><\/h2>\n

IT<\/span> Security plays a pivotal role in securing global enterprises from cyber threats. At the same time, it ensures that business continuity is unhindered, and the graph of GDP remains stable.\u00a0<\/span><\/p>\n

At the macro level, the national-level cyber-defense strategies help enterprises to reinforce their IT ecosystem by providing<\/span><\/p>\n