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The possibility of large-scale cyber attacks is among the prominent risks in 2015 in the 10th Global Risks Report from the World Economic Forum.

This reflects both the growing sophistication of cyber attacks and the rise of hyperconnectivity, with a growing number of physical objects connected to the internet and more and more sensitive personal data – including about health and finances – being stored by companies in the cloud.

Revelations about data fraud and leaks and cyber espionage have critically undermined global trust, running the risk of complicating the search for solutions to other global governance challenges as well.

The internet of things (IoT) is likely to disrupt business models and ecosystems across a range of industries. While this will deliver innovation, the prospect of many large players across multiple industries being forced to change so radically at the same time raises potential systemic risks such as largescale disruption in labour markets and volatility in financial markets. A major public security failure could also prevent the IoT from becoming truly widespread in scope in 2014-2015.

Vendor:
TechTarget ComputerWeekly.com
Posted:
Feb 8, 2021
Published:
Feb 9, 2015
Format:
PDF
Type:
Essential Guide

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