The growing tide of Cybersecurity

In this era, when digital transformation is at the forefront of every industry, cyber security has become the most growing sector in the global economy from multinational corporations to small businesses and everyday users. Everyone, however, is a potential target for cyber security attacks.  

Cyber security is an essential component of modern business and these operations, which include data breaches to ransom attacks to your personal data being leaked on the dark web. As technology evolves, so do the strategies employed by cybercriminals and those who lurk in the darkest reaches of the Internet. 

The cyber security market has grown so much in recent years, driven by an increasing number of cyber-attacks affecting businesses and raising awareness of digital risk. According to industry leaders, the global cyber security market is going to be booming.

The COVID-19 pandemic accelerated digital needs, this forced organizations to rely on social platforms, like Zoom, Discord, or Skype to meet productivity needs. While this transition has enabled businesses to find a safe and efficient way to communicate, this also exposes them to cyber security attacks. 

The average hacker exploits vulnerabilities and remote work networks. Fishing frauds have become increasingly sophisticated and ransom ware incidents have skyrocketed, forcing companies to prioritize cyber security, like never before. 

As digital security becomes more important, students are stepping up to meet the growing need for cybersecurity skills.  

Safae Moudkar, an Algonquin College web development student, is part of this new generation of tech professionals ready to take on these challenges. As she moves through her program, Moudkar is gaining valuable skills that will prepare her for a future in both cybersecurity and web development.  

Moudkar’s program covers a range of topics, including web application development, project management, and web security. She highlights the importance of these skills in today’s digital landscape.  

 “Understanding web security is crucial for anyone in tech,” she said. “Cyber threats are everywhere, and we need to know how to protect ourselves and our clients.”  

Moudkar envisions a future where she can combine her technical skills with her entrepreneurial ambitions.  

“Every young web developer dreams of building something of their own,” she said.   

Inspired by successful figures like Mark Zuckerberg, she has a goal to start a start-up called Bright-Tek in mind. This company aims to create secure web applications tailored to meet various business needs, ensuring that clients can effectively interact with their customers.  

Moudkar shares her goal of developing a secure web application for a hypothetical client.  

Bright-Tek will prioritize advanced security protocols such as encryption and two-factor authentication while ensuring a seamless user experience through intuitive design. 

“The focus is on combining the latest IT trends with robust security features,” she said.  

“When users visit a website, they want it to be easy to navigate and secure,” Moudkar said. She emphasizes that both responsiveness and security are vital for any web application. 

 She believes that developers should align their work with the business goals of their clients, ensuring the website not only serves its purpose but also protects user data.  

“The first thing a visitor should see is the service being offered, and it should be presented in a way that’s easy to understand,” she said.  

Her coursework includes a significant focus on web security, teaching students to identify vulnerabilities in applications. A vital need in the market of technology today. This training provides students with essential skills to develop secure solutions that address the challenges of protecting user data. 

“We learn how to discover weaknesses that could be exploited by hackers. For instance, if sensitive data like credit card information is not properly secured, it could lead to serious breaches,” she said.  

 “In our labs, we practice ethical hacking, which means we learn to think like hackers to better defend against them,” she said.  

Moudkar’s education gives her the skills needed to create defenses against malicious attacks, reinforcing the idea that cybersecurity is not just about prevention, but also about understanding the tactics of adversaries.  

As she looks to the future, Moudkar is excited about the opportunities in the cybersecurity field.   

“There’s a real need for skilled professionals, and I want to be part of that solution,” Moudkar said.   

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Companies taking advantage of this growing market and opportunity of the field of cybersecurity include Zero Tek.  

In 2023, about 16 per cent of Canadian businesses faced cyber security incidents, a decline from 21 per cent in 2019.  

Spending on recovery doubled to $1.2 billion since 2021, with identity theft affecting 31 per cent of impacted businesses. Large businesses, which spent around $500 million on recovery, were the most vulnerable, while 70 per cent of Canadians aged 15 and older experienced cyber incidents in 2022, according to statistics Canada. 

These challenges have created opportunities for cybersecurity companies like Zero Tek.  

 Neil Arsenault, co-founder and CTO of Zero Tek, has a notable background that led him to this dynamic industry.  

“I worked basically my way up from the bottom,” said Arsenault. 

His journey began in high school as a co-op student, where he gained foundational knowledge in technology and software development. 

As a co-op student, Neil began in quality assurance, where he tested software to ensure it worked properly. He enjoyed the problem-solving aspect of the job and quickly moved up the ranks. 

 Over the years, he became a software developer and then a principal architect. Neil was part of a company that grew rapidly after being acquired, reaching about 1,000 employees. However, this growth came with its own challenges. 

After the acquisition, Neil felt that innovation had stalled. He spent six months in a role that didn’t excite him, attending meetings but not creating anything new. He felt stuck and worried about his future.  

“If I continue like this for 10 years and the company closes, how will I find a job?” he said. 

Realizing he needed a change, Neil decided to start his own business in cybersecurity. He saw this field as crucial, especially as more companies began to rely on digital solutions. 

 The COVID-19 pandemic further highlighted the need for strong cybersecurity, as businesses shifted to remote work and cloud services.  

Starting ZeroTek was not easy. He did not know where to look for potential clients or what their specific needs were.  

“Trying to find your first customer, it’s like you don’t know where they are or who they are,” said Arsenault.  

Another significant challenge was working with his co-founder, Peter Sandiford, who had many years of experience. Neil had to navigate their partnership carefully, figuring out who was responsible for what.  

“Peter is a serial entrepreneur that has been building companies for 40 years,” said Arsenault. “I’ve never worked with someone like that.”  

To overcome these challenges, Neil advises aspiring entrepreneurs to seek guidance from mentors. 

 “Learning from others who have been through similar experiences can save you a lot of time and mistakes,” he said.  

He also emphasizes the value of networking. Building relationships in the industry can open doors and provide valuable insights. 

When it comes to tips for running a cybersecurity business, Arsenault said that the focus needs to be on the customer needs. 

Statistics source:  https://www150.statcan.gc.ca/n1/daily-quotidien/241021/dq241021a-eng.htm 

“It’s one of those things you have, like insurance for your house. These days it’s a must have,” said David Sali, a senior writer and an Algonquin College business journalist professor. “As far as mitigating risk goes, I think cybersecurity should be something every entrepreneur has from the get-go.” 

According to Sali, cybersecurity is a must-have for any business no matter how young or old they are. As cybersecurity continues to advance, so does cyber threats and the demand for information security grows at the same time.  

Data breaches and cyber criminals are continuously on the rise thus leaving businesses on edge. Having a reliable cybersecurity plan is no longer an afterthought, it is an essential tool for the survival of a business. 

“(The financial implications) can be massive; it can be a billion-dollar problem for a big industry, if it’s an industry breach at a very high level,” said Sali. “For startups, it might only be a 10 or 20,000-dollar problem, but when you’re scraping together every cent you can, that’s huge.” 

The journalist pointed out that cybersecurity is something entrepreneurs are still grappling with but is not at the top of their agenda, even though it should be. However, there are still many questions and issues entrepreneurs are dealing with. 

The risks that are present with or without a cybersecurity plan will not go away, there are active hackers looking for a weakness in any company they can take advantage of. This would include data breaches, IP addresses, bank account details, login information for various platforms, and more that can cause damage to anyone. 

Sali further adds on quantum computing is becoming a bigger thing in the industry, these computers are super computers that can do calculations that once would have taken 100 computers and hundreds of hours to do. 

“If hackers get access to that technology, that could be catastrophic. They can cause security breaches (and make) what we have seen so far look like child’s play,” said Sali. 

New businesses in the industry stress the importance of cyber security awareness and as businesses continue to evolve cyber security is becoming increasingly relevant. Cyber security is not going to go away anytime soon, and businesses are going to take full advantage of it to protect themselves. 

With the rise of artificial intelligence and machine, learning being both a risk and a boon to cybersecurity with cyber criminals, leveraging AI to launch more complex attacks, security professionals use the same technology to take threats of strength and defenses. As technology advances ongoing innovations will be helpful in maintaining security and privacy. 

And as new people enter the business of cyber security they innovate and help businesses protect themselves in new ways. Cybersecurity is a world of opportunity and those willing to dive in and innovate will help protect businesses going forward.   

With cyber threats, not going away anytime soon the need for vigilance and adaptation remains high. organizations that invest in cyber security will be better equipped to prevent attacks, protect data and the trust of their community and their consumers. 

Education and learning will be pivotal in protecting consumers in the present and the future. As people invest in these skills, cyber criminals will inevitably adapt and learn. A new method will be needed to counteract fraud scams and fishing. So, in this game of cat and mouse, people will grow, learn, and adapt. in this industry new opportunities will arise for those who are willing to take it and learn and teach others to defend against predatory strategies.