By Kenneth Oboh

Ebuka Mmaduekwe, a technology expert, has said cybersecurity is no longer an afterthought but a critical business necessity.

He added that as digital transformation accelerates, businesses of all sizes must recognize that protecting their digital assets is just as important as safeguarding their physical infrastructure.

The increasing sophistication of cyber threats means that a single security lapse can result in devastating financial and reputational damage. Yet, despite the growing risks, many organizations fail to acknowledge the true scale of the threat until they experience a breach firsthand, he noted.

“This reactive approach often proves costly, as cyberattacks can lead to data loss, financial theft, operational disruptions, and legal consequences. By the time a company responds, the damage is often already done.

“Cybercrime is rising at an alarming rate, with hackers and malicious actors becoming more organized and well-funded.

“According to a 2023 report by Cybersecurity Ventures, global cybercrime costs are projected to reach $10.5 trillion annually by 2025. This staggering figure underscores the urgent need for companies to prioritize cybersecurity investments.

“Among the most prevalent threats are ransomware attacks, where cybercriminals encrypt company data and demand payment for its release; phishing scams, which trick employees into revealing sensitive information or credentials; and supply chain breaches, which exploit weaknesses in third-party vendors to gain unauthorized access to corporate systems.

“With the rapid adoption of cloud computing, IoT devices, and remote work, companies are now facing expanded attack surfaces, making them more vulnerable than ever. Inadequate security measures and outdated software create entry points for attackers, further increasing risks.

“Unfortunately, many businesses still take a reactive approach to cybersecurity, investing in security measures only after suffering an attack. This outdated mindset puts organizations in a constant state of vulnerability, exposing them to significant financial and reputational losses. A proactive approach is essential for mitigating cyber risks before they escalate.

“This includes real-time threat detection to identify and neutralize attacks as they occur, AI-powered security systems that use machine learning to predict and prevent threats, and continuous employee training to ensure staff members can recognize and avoid cyber threats.

“Cybersecurity is not just the responsibility of IT teams. It requires a collaborative effort across all departments. Business leaders must ensure that cybersecurity is ingrained into company culture and not treated as an afterthought. Leadership plays a crucial role in a company’s cybersecurity preparedness. Business executives must work closely with IT and security teams to implement a security-first culture where protection measures are proactively maintained.

“It’s critical to integrate AI-driven security protocols that detect and neutralize threats before they escalate into full-scale breaches.
Cybercriminals are using artificial intelligence to enhance their attack strategies, so companies must fight AI with AI by implementing automated security tools. Another pressing cybersecurity concern is software supply chain security. Attackers are increasingly targeting software providers and vendors to gain access to thousands of organizations at once.

“One of the most infamous incidents was the SolarWinds breach, where a single compromised update allowed hackers to infiltrate government agencies and Fortune 500 companies. This attack highlighted how one weak link in a supply chain can compromise entire industries. To combat these threats, businesses must vet third-party vendors, implement strict access controls, and use automated monitoring systems to detect suspicious activity.

“Looking ahead to 2024 and beyond, cybersecurity threats will only become more sophisticated. With the rise of AI-powered hacking tools, deepfake phishing attempts, and quantum computing risks, businesses must stay ahead of cybercriminals rather than constantly reacting to them. Companies that prioritize cybersecurity investments will be in a much stronger position to protect their assets, customers, and reputation.

“This means investing in cutting-edge security solutions such as zero-trust architectures and behavioral analytics, promoting a cybersecurity-conscious workplace where employees are regularly trained on best security practices, and staying informed about emerging cyber threats while adapting security measures accordingly. Cybersecurity is no longer optional.

“It is an essential part of business survival in the digital age. Companies that fail to act today risk becoming the next headline for a major breach. The time to take cybersecurity seriously is now,” he cautioned.

Mmaduekwe, a cybersecurity and technology expert, is Co-Founder of SkyHigh Internet Services, and CTO at Byte Safe. He holds a Master of Science in Information & Communication Science and a Master of Arts in Emerging Media Design and Development from Ball State University.

Certified in Cybersecurity (ISC2), Security+, and CySA+, he is also a published researcher in AI and cybersecurity, dedicated to mentoring and STEM advocacy.