We live in a world where technology and trends are the two factors which are going to drive the world and are changing at the bat of an eye. The pandemic has upturned businesses, lives, and even the outlook of our future. It has caused millions to lose their jobs, and for many young professionals to feel the bite of setback more clearly than ever before. The Future of Change is already here and it is changing how people think about their jobs. The future of the workplace has been permanently changed. Hiring holds have rocked the economy and have placed huge burdens on the younger generation and they have also been hit hard. Businesses simply are not seeing the revenue necessary to keep these young, untrained professionals on. Even those who have years of experience are seeing their positions made redundant.
Everyone is struggling, but being a young skilled worker with too few years of experience and a massive amount of competition, it is the hardest. More worrying, is that as the economy opens up and jobs get added back as movement once again is encouraged, salaried jobs are expected to take even longer to bounce back. Even with hiring holds lifted, salaries are expected to be lower, with the opportunity for advancement put on hold for the next few years. Digital transformation is essential. This was true even before COVID-19 shuttered economies and forever altered the patterns of life and work and commerce. Before uncertainty and volatility became the new normal.
Secondly, during the pandemic, multiple Indian organisation and government agencies data has been exfiltrated by organised hacking groups. Organised hacking groups and individual hacktivists then sell this data on the dark web, transacting using cryptocurrencies.
During pandemic, many have lost their jobs, It brings the growth of Gig economy, workers take up part only part-time positions, allowing them to frequently change jobs or take up multiple jobs for different businesses at the same time. Gone are days of working 9-to-5 in a cradle-to-grave job. Gig economy enables people to save several hours every day and make the most of the only limited commodity, time.
Now IT is more important than ever in providing and enabling infrastructure to support business innovation and continuity. But boosting IT capacity and capability is tough. The pandemic has changed the way businesses run. And, the world is gravitating towards a new normal. Social distancing, minimising physical touchpoints, and movement of customers from offline to online channels is the reality businesses must now live with. Offline businesses taking the help of online aggregators to survive is also the new norm, which has led to a sudden wave of digital availability of many business products and services. With no data protection law currently existing in India and weak Indian IT Act, most companies end up denying breaches publicly.
However, this has also increased attack surface for online businesses with new categories and catalogues getting added. Due to increased product categories and to fulfil customer demand thousands of new codes get added to e-commerce, banking, e-retail, e-trading applications. Security by design gets left out in the name of speed, agility, growth and customer fulfilment. While most of the online businesses use third parties to develop application, host and manage infrastructure, code written by developers does not go through coding best practises that have high-security standards. This leads to multiple security weaknesses, which are exploited by organised hacktivists and script kiddies.