Frost & Sullivan sees transformative potential in biometrics for future of privacy and cybersecurity

Frost & Sullivan sees transformative potential in biometrics for future of privacy and cybersecurity

Biometrics, blockchain and AI are among the technologies that could transform privacy and cybersecurity, according to Frost & Sullivan.

A complex global network of more than 200 billion devices, or more than 20 per person, will be online by 2030, driving an increase in the complexity of privacy and cybersecurity challenges, a new report on “The Future of Privacy and Cybersecurity, Forecast to 2030” says. The result will be deep market synergies between data protection, security, privacy and public good players as international frameworks to govern the IoT are developed.

The report suggests that the proliferation of sensors in security systems, consumer electronics, self-driving cars and in new applications for health care and connected cities could present a range of threat vectors to repositories of sensitive personal information.

Revenue opportunities are available for cybersecurity vendors through investments in or partnerships with startups offering technological innovations, such as with AI or blockchain, and adopting an enterprise-wide cybersecurity strategy, as opposed to one based on a dedicated unit. The consultancy also recommends investing in creative “cyber-human” workforces, allocating dedicated budgets for breach response and recovery, and considering integrated solutions for end-to-end security, rather than “bolt-on” tools.

“Artificial Intelligence (AI) will emerge as the new frontier of privacy and cybersecurity as enterprises explore new opportunities and train a capable workforce to identify critical threats, respond faster to breaches, and learn from them,” states Visionary Innovation Research Consultant Vinay Venkatesan. “In addition to AI, data de-identification, advanced authentication and encryption, biometrics, Blockchain, automation, and quantum computing also will have the potential to transform privacy and cybersecurity.”

Venkatesan predicts that there will be more than 26 smart cities by 2025, mostly in North America and Europe. Boundaries between work and home are currently falling as well, so connected devices everywhere will raise the possibility of mass non-consensual data collection.

Frost & Sullivan recently forecast the global biometrics market to surge to nearly $46 billion by 2024, and presented Infinity Optics with the 2020 Global New Product Innovation Award for its QuantumCrypt biometric technology.

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