The steep increase in cyberattacks, email phishing scams, and ransomware is forcing cybersecurity firms to search for tech solutions to address the vulnerabilities. Criminals are hacking individuals’ accounts, countries’ critical infrastructure, and businesses of all sizes, causing millions of dollars in losses.

Workplace digitization and remote working in response to the COVID-19 virus made it a priority to retrain employees on online safety to reduce data breaches and losses.

Businesses are also adopting new cybersecurity technologies, such as artificial intelligence (AI), to monitor and guard networks against hackers in real-time rather than responding to the threat after the damage is already done. Moreover, cloud storage companies are offering end-to-end encryption for online data storage and data transfers.