As India speeds up its mission to transform into a truly digital economy with technologies like 5G, the country faces one of the highest rates of cyber security threats in the Asia Pacific region — receiving over 500,000 security alerts daily — which is nearly three times the global average, a new report said on Monday.
According to a joint KPMG in India-Indian Mobile Congress-COAI report released on the first day of “IMC 2019” here, organizations need to be open with consumers about their data being collected as cybercrimes grow.
The impact of a data breach to an organisation averaged $3.9 million globally in 2018; it was around $1.83 million in India last year.
“Nearly 39 per cent of security alerts remain unattended owing to the lack of relevant skill-sets. Though there are approximately 600,000 digitally skilled employees in India, only 10-12 per cent have cybersecurity skills, while even fewer have data protection and privacy skills,” lamented the report.
The skill gap may increase further with rapid digitalization and is being cited as one of main reasons for not adopting advanced security practices and technology.
“Here, it has become essential for organizations to offer relevant training to upskill and reskill employees,” said the report.
To add to their burden, more than half the security alerts investigated by organisations turned out to be false. This experts additional pressure on cybersecurity personnel.
“As India speeds up its mission to transform into a truly digital economic, cybersecurity threats and privacy concerns could impede its success,” said the report.
All stakeholders involved (government, industry, consumers and regulators) should consider implementation of advanced cybersecurity technologies.
“Considering the rising threats of the digital age, organisations need to have a comprehensive security architecture in place, one which ensures the protection of critical data across varied networks and environments, and technologies that dynamically respond to threats as they emerge,’ the KPMG in India report mentioned.
It is becoming clear that data ethics, privacy and security need to form an integral part of every organisation’s risk appetite and Board agendas to monitor progress.
After cementing its position across four key business verticals — camera, home printers, office printers and commercial printing solutions — Canon India is now ramping up its effort to top the growing healthcare imaging and security surveillance market in the country, a top company official said here on Wednesday.
After grabbing a substantial share in the Indian market in the professional printing segment which has been among the fastest growing verticals for Canon in India, the company now eyes diagnostic imaging market which is witnessing a tremendous growth with new super-specialty hospitals and diagnostic centres being opened at a fast pace, including in the tier II and II towns.
“In 2020, our key focus areas will be medical and security verticals in India. There have been a strong demand in the field of diagnostic imaging like MRIs, CT scans and X rays in the recent past which, we think, is an important segment for us in this country going forward,” Kazutada Kobayashi, President and CEO, Canon India, told IANS.
Although India will be the youngest country in the world by 2020 with a median age of 29 years, the number of elderly people is likely to increase significantly after that, according to the “State of Elderly in India” report.
By 2021, the elderly population will reach 143 million.
According to market research firm Mordor Intelligence, the increase in life expectancy over the years has resulted in an increase in the population of the elderly. Hence, the growing geriatric population is expected to augment the demand for diagnostic imaging equipment.
The global medical imaging market was approximately $34 billion in 2018 and is expected to generate around $48.6 billion by 2025, according to Zion Market Research, and the of a huge patient pool and rise in the number of hospitals and diagnostic centres in India, Japan and China are anticipated to fuel the medical imaging market in the Asia Pacific.
“Today, if you go to a hospital and take a picture of your chest, that needs to be printed on a film. We propose to print that on a paper. This is my economical and environmental-friendly vision,” said a beaming Kobayashi on the sidelines of the launch of its flagship camera EOS-1D X Mark III.
According to him, security is another big area to focus on.
“Security surveillance camera systems have come of age and at Canon, we are aiming to make a revolution in this area soon,” said the executive.
Canon’s business in India is divided between business-to-consumer (B2C) and business-to-business (B2B) verticals.
The B2C category includes camera and home printers while B2B includes commercial printers and sales to corporates and MSMEs.
Canon India also showcased EOS-1D X Mark III – the flagship product from the Canon EOS range, featuring latest advancements and innovations in digital imaging technology.
“On the camera front, India offers great opportunities in segments like wedding, wildlife, sports and media. One great observation is that the demand for high-end cameras is also coming from smaller Indian towns and we are excited about this,” said C. Sukumaran, Director, Consumer Systems Products and Imaging Communication Products, Canon India.
Priced at Rs 575,995 (taxes included) for the body, including 512GB CF Express Card and Reader, the EOS-1D X Mark III will be available mid-February onwards at select retail outlets across the country.
The EOS-1D X Mark III offers an unmatched continuous shooting speed up to 16fps with viewfinder shooting. It houses a newly developed 20.1MP Full Frame CMOS sensor.
“The newly developed algorithms in the camera enable not just eye detect and face detect autofocus but also head detect autofocus. This allows highly precise autofocus and tracking even in challenging conditions and with multiple and rapidly moving subjects,” informed Sukumaran.