Founder and CEO at The Unity of Freedom
To be prepared for both current and future roles in cybersecurity work, we must ensure that we are informed in this area – not only about the threats of cybercrime, but also about the opportunities that lie before our eyes.
According to Cybersecurity Enterprisesthe global cost of cybercrime will increase by 15% per year over the next five years and reach $10.5 trillion USD per year by 2025. This shocking statistic will represent the largest transfer of economic wealth in history, exceeding the combined profits of all major illicit drug trades and exceeding the total annual damage caused by natural disasters.
Nasdaq states that “the United States, the world’s largest economy with a nominal GDP of $21.44 trillion, makes up one-fourth of the world economy.” If cybercrime forecasts were measured as a country, cybercrime would be the world’s third largest economy after the United States and China. The variations of damage from cybercrime include stolen personally identifiable information (PII), destruction of financial data, fraud, productivity disruption, deletion of system resources, and reputational damage.
What does this mean for the future of work and for those interested in a career in cyberspace? Only one in four candidates is qualified to fill the positions available. That’s why there is such a shortage of skills and employers are desperate for new talent. This is a golden opportunity for anyone who is qualified and has the skills needed to secure a bulletproof career.
Most college candidates lack the single most important quality needed to fulfill a role in cyberspace, and that is hands-on experience. Cybersecurity is the profession of the 21st century and the skills required must be taught in the same way as other professions, such as plumbing, electrical work and welding. Companies are starting to move towards considering candidates from non-traditional backgrounds who have real skills, as opposed to those with degrees in a related field. A diploma is not a direct reflection or indication of skill or of the ability to identify with a role.
Cybercrime is a national security risk and with the continued emergence of the Internet of Things (IoT) and reliance on digitization, the attack landscape will only expand faster. The metaverse, cryptocurrency, NFTs, virtual reality, augmented reality, big data, machine learning, artificial intelligence, and autonomy are new avenues for attackers to target and exploit as system infrastructures continue to evolve.
Even the electronic vehicle (EV) market will expose a huge number of vulnerabilities that are not yet aware of. For example, every Tesla vehicle is equipped with Wi-Fi and is connected to a server. Why is this a potentially big problem? If a device has an internet heartbeat, it is susceptible to a cyber attack. Authorities in this space understand the first fundamental rule of safety. It is not a question of if, but only a question of when a particular system is compromised. I believe there is no such thing as 100% secure.
Cybersecurity skills are skills that every employer is looking for or will adopt because cybersecurity is the frontline of defense and the backbone for every industry and organization operating in 2022. If you understand all the attack vectors and the impact that such attacks or breaches can have on an organization, you may begin to understand the future of work opportunities in the age of information technology.