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The Digital Disruption: Security Implications for the Enterprise

The Digital Disruption: Security Implications for the Enterprise. Lagos Chamber of Commerce Seminar Paper Presented by Gabriel Owoso PhD MD, CBC Emea October 22, 2014. Information Technology Revolution Historical Perspective. 1950’s – 1980’s

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The Digital Disruption: Security Implications for the Enterprise

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  1. The Digital Disruption:Security Implications for the Enterprise Lagos Chamber of Commerce Seminar Paper Presented by Gabriel OwosoPhD MD, CBC Emea October 22, 2014 (c) Gabriel Owoso PhD

  2. Information Technology RevolutionHistorical Perspective • 1950’s – 1980’s • Mainframes and Minicomputers accessed by dumb terminals • Local to a building • 1980’s – 2000’s • Power Servers accessed by intelligent workstations (desktop PCs & Laptops) • 2000’s – Date • Distributed Internet Based Servers accessed by PCs, Laptops, Notebooks Tablets and Smartphones) • Immediate Future • Consolidation of Internet of Things (IOT) – Intelligent, Instrumented devices Interconnected into an ochestra Information Symphony. (c) Gabriel Owoso PhD

  3. Digital Disruption: Definition • Digital Disruption occur when a collection of technologies change the landscape of business to the extent that markets and value propositions have to be redefined, reimagined and re-strategized. • Digital disruption is forcing businesses to change how business is done. • DD is making all businesses to become digital business (c) Gabriel Owoso PhD

  4. Digital Disruption – The Process • DD involves • redefinition of technologies causing • reimagining business model which further causes • re-strategizing of value proposition & • redefinition of market options. (c) Gabriel Owoso PhD

  5. DD – An Example • Originally movies can either be watched on TV (at home) OR on big screen at Cinema theater • VHS technology disrupted this business • About twenty years ago, Customers can additionally buy or rent movie VHS from stores • So they can watch movie repeatedly at their own convenience at home • Now movies & music are sold online so you can watch literally any where any time any movie (c) Gabriel Owoso PhD

  6. DD – The Makeup • The Starting Point of DD is the conscious elevation of DATA to superstar level. • In DD, DATA is King. • Companies that embrace DD view DATA as • Its main Asset • Its most strategic (Natural) Resource (c) Gabriel Owoso PhD

  7. DD – The Makeup • Not just data traditionally used for core business function • All types of data • Structured, Unstructured, from data entry, from other programs, from instruments, discrete data, streamed data (c) Gabriel Owoso PhD

  8. DD - Configuration Four technology assisted concepts is presently fuelling utility of DD. • Cloud Computing • Analytics • Mobile • Social Media An enterprise ability to reimagine its business, process and operational models to gainfully take advantage of these innovative technologies that will give it an edge in months and years to come. (c) Gabriel Owoso PhD

  9. Digital DisruptionCooking Pot of Opportunities & Risks Opportunities – Cloud Computing • Cloud offers business agility; business at the speed of thought • Cloud turns massive onetime Capex to bearable monthly/quarterly Opex; Solves cash flow problems • Cloud makes internal IT staff to worry less about IT infrastructure and spend more energy on alignment of IT to meet (surpass) business expectation – IT become Business Drivers. (c) Gabriel Owoso PhD

  10. Digital DisruptionCooking Pot of Opportunities & Risks Opportunities – Data Analytics • Analytics squeeze unimaginable actionable insight out of seemingly uninteresting data; better decisions – better profits. • Predictive Analytics analyzes data about the past to predict what will happen in the future – so proactive preparation is more efficient. (c) Gabriel Owoso PhD

  11. Digital DisruptionCooking Pot of Opportunities & Risks Opportunities – Mobile • Mobile empowers all stakeholders (internal staff, customers, vendors, management, shareholders) to have access to engage & interact with relevant portions of the enterprise database anytime, anywhere. This empowerment translates to better customer service, faster TAT, more transactions, less operational costs and greater profits (c) Gabriel Owoso PhD

  12. Digital DisruptionCooking Pot of Opportunities & Risks Opportunities – Social Media • Social Media gives the enterprise a great opportunity to feel the purse of the general public (customers & non customers) as it relates to various aspects of its operation. • Social Media is being used to • Promote brand • Monitor trends amongst customer segments • Research & test out acceptability of new product ideas • Use of Social Media by Corporates still at infancy stage (c) Gabriel Owoso PhD

  13. Digital DisruptionCooking Pot of Opportunities & Risks Risks • Digital Disruption, not only reshaped business opportunities; it also reframed business insecurity. • The way hacking is accomplished in a legacy Mainframe setup is very different from how it is done in Cloud Computing environment. • Physical presence absolutely not required. • Physical identification of hackers getting increasingly difficult. They are virtual hackers. (c) Gabriel Owoso PhD

  14. Digital DisruptionCooking Pot of Opportunities & Risks Risks • If successful, impact of loss can be very high with long time ripple effect. • Identity Theft. Focus is usually not the cash but identify of customers which can repeatedly turn to cash in diverse ways. (c) Gabriel Owoso PhD

  15. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Target • 40 Million credit card data stolen • Biggest retail hack in US history • Malware to capture credit card data was electronically distributed to all retail centers US wide • The malware collects the data and stores the stolen data in a commandeered server of Target (c) Gabriel Owoso PhD

  16. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Target • The hackers now planned how to ferry the data from the commandeered server to their own servers out of Target • Meanwhile Target Mgt installed a US$1.6M security solution to watch for and blow whistle. • The installed system monitored all the computer systems of the over 1,000 Retail outlets and reports to IT Security staff in company headquarters. • The system worked well because … (c) Gabriel Owoso PhD

  17. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Target • As the hackers injected another set of malware that will move the stolen items out to Russia, the Malware detection tool spotted the intrusion and blew the whistle from the Command Center in India – Target staff did nothing. • Repeated alerts were raised by the US$1,6M Fire Eye anti malware solution – they were all ignored. • Why the human indifference? Is it internal cooperation with crime OR is it skill gap in interpreting message (c) Gabriel Owoso PhD

  18. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Target • Over 90 law suits by customers and banks • Target spent over US$70M to correct error • Target promised customers they will bankroll all losses arising from the theft • Total cost to Target estimated in the Billion of Dollars • Business for that quarter went down 46% compared to same quarter previous year. • All time low txn figures reported (c) Gabriel Owoso PhD

  19. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Nude Pictures of Celebrities • A number of US Entertainment Celebrities use iPhone • iPhone has a facility that allows you to automatically sink data on your phone with a database on the Cloud called iCloud. • It is a useful facility because it assures you of your precious data in the event of phone is damage, stolen or misplaced. • These celebrities habitually take nude pictures of themselves and stored on their phones (please don’t ask me why) (c) Gabriel Owoso PhD

  20. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Nude Pictures of Celebrities • These photos are automatically uploaded to iCloud • Some hackers used password hacking software to crack the password of these celebrities. • They then entered iCloud from the “Front Door” using valid credentials of the celebrities. • Investigation showed that the passwords were so weak that the software can crack in minutes. (c) Gabriel Owoso PhD

  21. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– Nude Pictures of Celebrities • Now these photos have gone viral on the Internet • Today it is nude pictures of celebrities • Tomorrow it can be sensitive data of an enterprise or Government (c) Gabriel Owoso PhD

  22. Digital DisruptionCooking Pot of Opportunities & Risks Risks – Examples– United Breaks Guitars • This a classic example of how lack of proper attention to an unimportant aggrieved customer can do things on Social Media that can cause severe grief to the enterprise (c) Gabriel Owoso PhD

  23. Conclusions • Digital Disruption has come to stay. • It is either you embrace DD as a Stepping Stone to rethink, reimagine and reshape your business OR • DD will become a Stumbling Block that will permanently disrupt continuity of your business • Don’t just focus on the innovative opportunities; Pay attention to the also innovative risks • In combating insecurity, technology is required but correct and timely human response is KING (c) Gabriel Owoso PhD

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