Opinions expressed by entrepreneur Shareholders are their own.
An expected compound annual growth rate of up to 95.6% Between 2021 and 2026, Confidential computing poised to become one of the hottest trends in cyber security In the next few years – especially in the highlands –risk sectors (and some of our most important), such as finance and healthcare.
Let’s take a look at how the game is changing in terms of confidential data storage and the companies that are paving the way for this innovative method.
What is secret computing?
Digitization has always faced a dilemma about what happens to personal information. Events such as the Cambridge Analytica scandal and the many accounts of major organizations whose systems were hacked highlight how vulnerable we are when we use computers and technology.
It’s bad enough on an individual level – no one wants their bank details or intimate photos stolen. But for companies and governments, the consequences of accessing sensitive information are even more worrisome. And there’s cause for concern – one report found the number of data breaches in 2021 grew by 17% Compared to 2020. So the problem, it seems, remains.
Secret computing offers a solution by protecting data while it is being used. Unlike most encryption Ways, it focuses on data that is still being processed (when it remains unencrypted in memory) rather than on it afterwards. More specifically, it is Isolates sensitive information It places it in a separate protected area, usually using cloud technology. After that, no one can access the data without an authorized app code – and if an unauthorized code (like malware) tries to get in, it will be denied access.
How secret computing can change the world
Understanding secret computing theory is a great start, but to deeply understand its potential, you should look at the use cases. Since the term itself is “secret” in the name, the method is an extension of cybersecurity. Since almost every company now depends on cybersecurity to take care of their data at some level, applications can reach almost any sector or industry; However, it is more useful for companies that face the highest risks when dealing with data – such as finance and healthcare companies.
Financial Services Such banks have always been targets of hacking attacks, which can lead to losses of hundreds of millions of dollars. So it is a natural place to implement serious cyber security measures.
Covert computing will allow different financial institutions to share data without leaving it vulnerable – for example, banks can share data and perform analytics, allowing them to identify potential suspicious patterns, making fraud cases easier to spot earlier.
Our health is critical to practically everything we do in life, and data sharing with healthcare providers is inevitable. But sharing it with the wrong hands, like information about DNA or diseases, can cause serious problems. Cybersecurity is vital here, and confidential computing can provide a solution by protecting data even when it is used by healthcare professionals.
Secret computing can pave the way for data uses that may have previously been considered too risky. For example, collecting data on critically ill patients and using artificial intelligence to find patterns and understand what they may be experiencing. Meanwhile, healthcare organizations have been poorly slow to adapt to these new technologies, in part due to the complexities of securing data.
Leading companies on the way
Unsurprisingly, some of the biggest names in technology and computing are leading the way in terms of covert computing.
Google Cloud Google’s secret computing offering, it allows customers to encrypt their data as it is being used by advanced CPUs. In addition, it allows people to collaborate without compromising security, which is critical for companies implementing dynamic operations.
Then there’s IBM, which has a suite of clandestine computing services, including IBM Cloud Hyper Protect Cloud Services (for end-to-end protection), IBM Cloud Data Shield (for containerized applications), and Secure Implementation of Linux (for hybrid clouds).
Another name to watch is Microsoft Azuremicrofoot cloud computing A service to protect business and consumer data during its use. Microsoft stores and processes data in devices after checking the cloud environment to ensure security.
But there are also some companies that are less well known and have some promising innovations. One of them is the leading Israeli electronic company Axle Security, which uses a variety of hardware and software solutions to store data, along with artificial intelligence tools to constantly monitor data and model potential threats. This can help solve some of the health care and financing problems described earlier.
Hub has already approved a merger with a special purpose acquisition company worth $1.28 billion. The deal will give Hub $172 million to fund its business and potential funds from institutional investors in Israel and the United States.
A more secret future?
As clandestine computing reinvents how business and security are implemented across various sectors, the companies at the heart of the industry, which provide the technology and tools needed for clandestine computing, are set to thrive and grow rapidly.