Industry reports around the world believe that Cloud technology is a critical enabler of the Industrial Revolution 4.0. As the new Industry Revolution starts the ignition, cloud computing is effectively supporting the developments on the Internet of Things (IoT), automation and robotics. On the basis of experts' opinion and latest researches, Rashi Aditi Ghosh of Elets News Network (ENN) explores how embracing the cloud can help the processes in banking and financial industry operate more efficiently and rise above the competition. The original Industrial Revolution that occurred around the eighteenth century completely changed the world we live by connecting the energy of water and steam to power machines that helped the workers in producing goods much more swiftly. The second Industrial Revolution began with the rise of mass production lines. By the time information technology could begin to automate production in the twentieth century, the third Industrial Revolution had come into motion.
The global cyber security market size stood at USD 131.3 Billion in 2018 is projected to reach USD 289.8 Billion by 2026, exhibiting a CAGR of 10.6% during the forecast period. Over the years, ensuring cyber security has always been a challenge for businesses or organizations across the globe. As this is the golden era of digital transformation, cyber-attacks evolve every day as attackers become more inventive. Interconnection of several sectors, expansion of exposure points and concentration of assets are some of the prevailing trends that are exposing the critical infrastructure to increased risks. However, it becomes difficult to accurately define cybersecurity solutions and identify good cybersecurity. Cyber security refers to a broad range of technologies, processes, and practices designed to protect computer networks, devices, and programs from cyber-attacks, unauthorized access, and data damages.
Throughout 2019, technology has continued to have a transformative impact on Indian businesses and communities. From the first deployments of 5G to businesses getting to grips with how they use artificial intelligence (AI), it's been another year of rapid progress. As a testament to this, the digital economy today comprises 14-15% of India's total economy, and is targeted to reach 20% by 2024. From an IT perspective, we have seen two major trends that will continue in 2020. The first is that on-premises and public cloud will increasingly become equal citizens.
In the decade now drawing to a close, much of the world's business and everyday life became fully digital. But innovation is far from over. The 2020s will see further refinement of established technologies and the practical rollout of new modes, like quantum computing, that are still at the experimental stage. In December 2029, we'll no doubt be remarking on inventions that today we still can't imagine. But for now, here is IBM's preview of the year and decade ahead.