The world is undergoing a rapid digital transformation as we continue to increase our use of technology to progress towards high efficiency and quality of life, but what impact does this have on the environment?
The evolution of our tech habits has created a market for eco-friendly tech, devices designed with the environment in mind, for companies to enter. Green technology aims to be as sustainable as possible, but does it compromise our data?. Making it a good opportunity for potential investors. Here are three reasons why.
Safely Use IoT Devices
The Internet of Things technology is rapidly increasing. The devices that work on this technology, like Electric cars that don’t necessarily need a human driver, are making life more comfortable.
But, at the same time, we can’t overlook the results of a recent survey of 1.2 million IoT devices which revealed that 98% of these IoT devices used unencrypted data and around 57% of these devices put the personal information of the user at risk.
To deal with the issue, cybersecurity companies use artificial intelligence (AI) and machine learning (ML) tools. Using them, they can quickly catch devices when they deviate from their “normal” behavior.
MNCs Can Prevent Heavy Financial Losses
It’s not just individuals who are at risk because of cyber attacks. MNCs bear the burnt equally. In fact, plenty of major multinational companies already have. For example, back in 2021, Colonial Pipeline faced a ransomware attack that led them to lose $4.4 million to attackers.
Similarly, a meat-producing company, JSB had to face losses as it shut down several plants solely because of cyberattacks. That’s why, it’s not surprising that a recent PwC survey found that around 69% of these companies have planned to increase their spending (up to $172 billion in total) on cybersecurity.
In the same year, US president Joe Biden put out an executive order to modernize cybersecurity faculties. He also called for actions to prevent cybersecurity attacks on infrastructure like transportation and power.
Investors Can Gain More Profit
So, we just saw how companies will be investing more in cybersecurity in the near future. So, investors too can position themselves accordingly. There are several ways to do so. For example, in the foreseeable future, more cybersecurity firms will emerge. So, investors can directly invest in firms that develop cybersecurity tools.
They can invest in such firms through individual valuation or through sectors. Investors also have the option to invest in companies that manufacture the behind-the-scenes technology that makes all cybersecurity tools possible in the first place. For example, artificial intelligence (AI) or machine learning (ML) firms.
Investors can also invest in companies that make use of new cybersecurity technologies through ETFs that work on the theme of the Internet of Things.
Final Words
Now you know why invest in cybersecurity in Green Tech? In the simplest of terms, investing in smart cybersecurity protocols and tools while using sustainable technologies will get you the best of both worlds. It will help you use green technology worry-free to make life more convenient and still secure yourself from cyberattacks and hackers.
So, that’s why you need to invest in cybersecurity in green tech right now!
