With the rapid pace of digitalization, companies are turning to newer technologies to stay ahead of the competition. While these advancements have created endless opportunities, they have also opened up a room for risks and data breaches. India’s Amrit Kaal has served as a warning call to many businesses all over the world, as cyber threats present a potential risk that can significantly damage the reputation of your business and lead to financial losses.
MeiTY (Ministry of Electronics and Information Technology), being aware of the cybersecurity threat and the need to stay resilient to such cyberattacks, has established a Cybersecurity section and regularly assesses the risks that businesses may be facing.
Public-private partnerships, implementation of cutting-edge technologies, and open-source code are measures taken to combat cybersecurity threats. After all, prevention is better than cure. To this end, research in AI and ML are underway to effectively detect and prevent fraudulent transactions, and to improve the user authentication system. Furthermore, developing technologies like Metaverse and Blockchain, which is an immutable ledger system, also come in handy for verifying the two-party integrity.
To make sure that your company is safe and secure, it is essential to have a proactive approach towards cybersecurity. Make sure to incorporate customers into a resilience management framework that prioritizes next-generation technology and procedures. This adds an extra layer of security against any potential malicious activity.
It’s important to note that Amrit Kaal is a Vedic astrology term that represents the changing times in the business sector, and how the need for cybersecurity can be addressed. It emphasizes on the importance of preparing ourselves by utilizing and making use of the various resources, whether it be partnerships or advancing technologies and solutions, to minimize the threat of a cybersecurity breach.
It will also be beneficial to keep track of the IRDAI’s updated cybersecurity strategy and regulations, incase if you are planning to launch a new business. Failing to follow the IRDAI’s updated strategy could result in penalties and fines, ranging from 1 lakh rupees to 5 crore rupees, depending on the severity of the offence.
The person mentioned in the article is someone who is usig the concept of Amrit Kaal to launch a new company in a safe and secure manner. It is important to emphasize the use of public-private partnerships and other technologies to tackle cyber threats and make sure that the consumer’s data is secure.
The company mentioned in the article is the Ministry of Electronics and Information Technology(MeiTY), which is in charge of leading cybersecurity-related efforts. In a bid to mitigate the risk of a cyberattack, they have developed a cybersecurity section within the ministry to monitor these threats and closely assess various security issues that companies may face.
