Zoe R. Weiner
Between April and June of this year, the number of people using Snapchat dropped about 3 million users to roughly 188 million users globally. Social Media relies on the number of daily active users and a decrease this drastic has started making market analyst think that Snapchat, a public company, will be going private in the near future.
Social media has a low barrier for entry when in comes to market competition so these tech business need to continue staying up-to-date and cutting edge. One tactic Snapchat did recently was develop its augmented reality lenses to work on people’s cats. Maybe this tactic will work to increase activity day-to-day users, maybe it won’t, but what is certain, Snap is not the only company working on developing “face recognition” that works on animals – Sony is to0, but for very different reasons.
It is just interesting to consider what a technology bases social media company has to do to stay relevant and a market leader, even if it introducing cat filters.
Nowadays, many social media platforms (Tinder, Spotify, Airbnb) are letting people use Single Sign-On (SSO) to sign into their platforms or register an account. Most, if not all, are using Facebook to create their SSO. So with light of the recent Facebook hack, many social media platforms are questioning how this recent hack affects their users. Many are now implementing full forensic investigations with the aid of Facebook to assess the safety of their customer’s information.
Jason Polakis, an assistant professor of computer science at the University of Illinois at Chicago, said, “… it’s not easy to evaluate how many accounts of yours hackers might have accessed”. This is the one of the primary risks behind implementing SSO.
This recent occurrence, along with how technology is making our information and lives much more interconnected, is going to make us rethink how we secure our data or how we will protect ourselves in this digital information age. The ‘easier’ we make life for people, the more vulnerabilities we can have. The SSO was designed to help make the sign in process easier, but now it is causing potential risks that we have not seen all the consequences to just yet. As technology is evolving, we will have to consider how to better protect what we put online. It is scary and cool all at the same time.
Spending on information security, whether it be products or services, is going to reach over $114B by the end of 2018. Much of this is due to Europe’s new regulations with the recently enacted Global Data Protection Regulation (GDPR), while some of this development comes from the fact business are realizing the security risks they have with their data. With this realization, at least 40% of businesses are looking in to security software as well to mitigate risk. Specifically, companies are looking at security information and event management (SIEM) software.
Within our society, technology is pervasive and it will only continue to become more integrated into our daily lives. We see Internet of Things (I.0.T) technologies become more common place whether it be a simple house Roomba, a fridge, or a garden bench. All these technologies gather our data. It is clear information is power, especially with how much spending companies are doing to protect not only their own data, but their customer data. With that in mind, spending on information security is going to have to continue to grow as more of our lives become digitized.
Not only is spending going to have to increase, but company education of cyberthreat issues will have to become more commonplace. People will have to be constantly trained on the latest types of attacks and how to better protect themselves from it. Investing in software to protect the company is only part of the challenge, the other half is becoming proactive and getting ahead of the attack curve. Information Security is a forever evolving subject. While you can have the best and the latest software, if you cannot teach your employees proper cyber safety, there are more unpredictable threats there and therefore more risk.