How the digital economy is changing security

Paris, 08/08/17

 

By 

Laurent Clavel, 

Head of Macroeconomic Research - AXA R&IS

Tomorrow Augmented: The digital economy’s next stage of evolution

Technology is changing just about every aspect of how we live and work. From healthcare to taxis, to entertainment and financial services - its influence on society is immense. The rise of the digital economy is core to this megatrend.

Over the next several weeks, we will take an in-depth look at this phenomenon and outline how we expect it to grow over the years to come.

Our third piece examines how the digital economy is changing cyber security.

Key points

  • In addition to traditional threats, financial institutions and market infrastructures are facing growing challenges in the form of cyber-security threats.
  • The complexity and interconnectedness of information infrastructures create a systemic risk. Any important failure of information infrastructure could cascade directly to internet-connected companies or systems.
  • The most challenging risk stem from people or organisations who would take advantage of a pre-existing bug or incident to amplify their attack, combining physical (information infrastructure) and digital shocks.