Posted: February 19th, 2022
Increased Role of Information Security and Privacy Since 2003
With the increased role of outsourcing, information sharing, and data sharing, information security has become a vital component in organizational operations. Since 2003 when digitization was rising, Data Security and Privacy have operated on two foundational elements of building trust between the company and the user. For example, proper data security can be considered a significant differentiating factor for many consumers, in light of breaches and violations because they serve as tools for developing confidence in users and investors (Clayton et al.2019). For example, during the breach of data transfer on 4th October 2021, some of the largest social media companies including Facebook, Instagram, and Whatsapp stopped working due to inconsistencies and technical errors in their internet channels, which negatively affected the confidence of social media users (Wakefield, 2021). With the internet breakdowns, cyber theft, and corrupting the network firewalls, the need for an increased role of information security and privacy has dominated the digitization sector. For example, in October 2021, big firms like Facebook had their own larger networks – known as autonomous systems whose back-end systems were violated hence blocking users and other computers users to connect with their network uses (Wakefield, 2021). This is why data security and privacy are getting a much-needed spotlight right now because right now, companies gather a lot of sensitive user data to enable their services; which means it is fair to say that security must be one of the top priorities.
This is why since Carr (2003), the emergence of digital platforms and ecosystems (DPE) have often created an avenue for value creation. According to Clayton et al (2019), since 2003, the shift towards the digital platforms and ecosystems has been informed by the increase in new digital infrastructures like big data analytic, IoT, blockchain, and cloud computing. Moreover, the utilization of digital platforms and ecosystems has been infused through digital technologies in organizational products, services, and processes. This is why Wakefield (2021) argues that in the current application of digital platforms and ecosystems the availability of ubiquitous digital infrastructures that underlie DPEs have radically restructured the nature, ways, processes, structure as well as the cost of doing businesses internationally compared to its previous application at the organizational level. This kind of digitization has led to reduced outcomes and less predefined agency in innovation and entrepreneurship that has, in turn, influenced the nature of value creation both at organizational and across borders levels. Therefore, in essence, the changes in digital platforms and ecosystems have compelled IT specialists to consider applying DPEs both at the organizational and current global business environment.
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