Digital trust may appear to be a fairly meaningless buzzword, but it may prove to be the currency of the future, writes PAUL WILLIAMS, Country Manager for Southern Africa at Fortinet.
Digital trust, in a nutshell, is about the ability to protect the digital data shared across a vast digital ecosystem. This information, from social media sharing to private account information, exists in a dispersed and intangible environment, where it is at risk of being collated and used against individuals and organisations in very damaging ways. Yet, personal information must be shared in order for people to make use of the digital productivity tools and platforms available.
In an environment where data unlocks services, and where information is shared readily across multiple platforms, the custodians of that data must build digital trust in order to thrive.
Data is the fuel of the digital economy
The Internet of Things (IoT), heterogeneous data models, mobility, cloud solutions, and analytical tools are driving an inexorable proliferation of data. Tremendous value and competitive edge is created through the effective use of data, and businesses across all industries are using it to transform themselves and generate new revenue streams. Data has become the fuel of the next generation business economy.
Established industries such as healthcare are now more data-driven than ever before. Data is disrupting businesses too: Uber, the world’s largest point-to-point passenger service, does not own any taxis. AirBnB is one of the fastest-growing hospitality services without owning a single piece of property. Companies like Google and Facebook are using consumer data to create new revenue streams and deliver better customer experiences. Data has become an invaluable currency, and businesses depend on it to fuel growth and innovation.
Driving value creation
A report by McKinsey Global Institute (MGI) titled Digital Globalization: The New Era of Global Flows found that the flow of data between countries has brought the world closer together and made us all more productive. According to MGI’s analysis, “over a decade, all types of flows acting together have raised world GDP by 10.1 percent over what would have resulted in a world without any cross-border flows. This value amounted to some $7.8 trillion in 2014 alone, and data flows account for $2.8 trillion of this impact.”
Technology makes it possible to correlate, analyse and draw conclusions from data in ways never seen before. Every industry is looking for ways to monetize the data they uniquely own or can gather. Organizations MUST monetize data or they will be left behind.
The reality is that in order for data to fuel and transform businesses, information technology and security are the essential to underpin its value creation. IDC predicts that by the end of this year, revenue growth from information-based products will be double that of the rest of the product/service portfolio for one-third of all Fortune 500 companies. By 2019, 40% of IT projects will create new digital services and revenue streams that monetize data. And by 2020, 50% of the Forbes Global 2000 will see the majority of their business depend on their ability to create digitally-enhanced products, services, and experiences. Clearly, the transformative potential of data is huge, giving data actual financial value. Unfortunately, criminals see the value in data as well.
Cybersecurity in a data-driven world
As cyber attacks worldwide increase in frequency and sophistication, an organisation’s ability to utilise its data is as important as its ability to protect it. Businesses experience value through additional or new revenue, lower costs, or faster time-to-market. Customers experience value through new or better experiences, greater convenience, and lower cost.
But in order for data to flow freely, and for companies to use that data successfully, it must be protected, and the company must be trusted. The more individuals believe that businesses will protect their data and use it for good, the more willing they are to provide it. The key to success in the digital economy is trust. Lose that trust, and the impact to your business can be crippling. The reality is that cybersecurity is a business-wide issue, as well as an opportunity to build digital trust which, in the long term, is good for business.
Win a Poster Heater with Gadget and Takealot.com
This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.
Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.
What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.
However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.
As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.
It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.
The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.
To enter the competition follow the steps below:
Competition entry details:
3. The competition closes on 31 July 2018.
4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.
5. The competition is only open to South African residents.
Happy Emoji Day! Here’s 10 reasons to be cheerful
First created by Shigetaka Kurita in 1999, the emoji has become a huge part of everyday communication. Whether you love them or hate them, flying dollar bills, applauding hands and rolling eyes are here to stay.
Scientist suggest that the use of emojis will help us gain the same satisfaction from digital interactions as we enjoy from personal contact.
Almost two decades later, and we have over 2600 unique emojis to perfectly express what we feel, thank you Mr Kurita! Join HMD, the home of Nokia phones as we celebrate World Emoji Day on the 17th of July with these interesting emoji facts:
The most popular emoji used is “Person Shrugging”
1. The Nokia 3310 was chosen as one of the first 3 “National” emojis for Finland… it represents unbreakable!
2. South Africa’s favourite emoji is the “Kiss and wink”… how sweet SA!
3. French is the only language where a ‘smiley’ does not top the list for its use
4. On average, over 60 billion emojis are sent on Facebook every day
5. For the first time ever, the Oxford Dictionaries Word of the Year was a pictograph! The “Face with Tears of Joy” was crowned word of the year in 2015
6. According to Emojipedia, some of the most requested emoji’s include afro, a bagel and hands making a heart
7. To include all races, a diversity pack was released in 2017
8. It has become so trendy that the Museum of Modern Art displays the original emoji collection on canvas
9. In 2009, Herman Melville’s classic Moby Dick was completely translated into emoji’s