In today’s interconnected world, cybersecurity is not just an IT concern — it is everyone’s responsibility. October is Cybersecurity Awareness Month and serves as a crucial reminder of the severity of online threats and the importance of safeguarding ourselves and our organizations. The reality of cyberthreats is alarming:

• Cyberattacks are estimated to occur every 39 seconds and for businesses, that frequency jumps to every eleven seconds.
• By 2031, cyberattacks are predicted to happen every two seconds.
• Nearly 60 percent of companies have experienced a ransomware attack this year alone.
• Data breaches from phishing attacks have cost companies nearly $5 million on average.

These statistics, which are too numerous to fully list, are not just numbers. They represent very real threats that keep me and Smith’s team of analysts up at night—knowing the potential impact on businesses and individuals.

Staying One Step Ahead of the Hackers

Cyberthreats and attacks are becoming more sophisticated, requiring companies to be vigilant and continually evaluate and update their security protocols. It’s not just the skilled hackers we need to worry about — even novices can exploit powerful tools for phishing, social engineering and malware. It’s why we all should play a role in keeping our networks safe.

As an ISO 27001-certified organization, Smith is committed to protecting our employees, customers and suppliers by implementing the most up-to-date shields in an effort to reduce the risk of an attack. All Smith employees undergo comprehensive cybersecurity training for proper data hygiene and follow detailed processes for handling confidential information.

When doing business with vendors, customers, or even competitors, collaboration is key. If one company is compromised, everyone in the supply chain is affected. Don’t be complacent. Always test and verify your security measures and detection systems. The tools that seem most effective today, may be the most vulnerable tomorrow. There will never be an end-all-be-all solution to your cybersecurity problems. This is why businesses need to diversify their use of cybersecurity companies that offer varied layers of protection.

The AI Conundrum

Another pressing concern is artificial intelligence. While AI can make life easier by increasing efficiency and productivity, it is a double-edged sword. The same technology that streamlines our work processes can also make life easier for cybercriminals to craft more convincing phishing attempts.

We can’t stop AI’s evolution, nor do we want to. What we can do is embrace the technology’s potential while establishing clear boundaries. Never input sensitive information into AI systems, as AI uses this data to enhance its capabilities. Additionally, always cross-check AI-generated information against trusted and verified sources.

Protecting Our Digital Assets With Best Practices

Cybersecurity Awareness Month provides a prime opportunity to highlight these issues, but protecting our digital assets must be a daily commitment. Here are some essential practices everyone should adopt:

• Create complex and unique passwords for each account.
• Enable multi-factor authentication whenever possible for an extra layer of security.
• Be cautious of unsolicited emails, phone calls and texts asking for personal information.
• Don’t click on links or open attachments from unknown sources.
• Keep your software updated to be protected by the latest security patches.
• Monitor your emails and report suspicious ones to your security team immediately.

For a more extensive list of best practices, we encourage you to visit the Cybersecurity and Infrastructure Security Agency or National Cybersecurity Alliance websites.

In our digital age, cybersecurity is a shared mission. Each of us has a part to play. By staying informed, adopting best practices and remaining alert, we can all contribute to a safer online environment. In the world of cybersecurity, we are only as strong as our weakest link. We can’t secure your data without your support.