The digital economy is set to unlock tremendous economic value for countries over time. But a common setback for the use of various new technologies is their vulnerability to hackers.

That’s because companies and individuals are not taking cybersecurity seriously, according to Erik Brynjolfsson, director at the MIT Initiative on the Digital Economy and a professor at MIT Sloan School.

The threat of cyber attacks “can be addressed much more effectively than it has been,” he told CNBC’s “Street Signs” at the annual Barclays Asia Forum in Singapore. “I think we’re just not taking it seriously enough.”

Brynjolfsson was commenting on the news that a Google bug exposed the account information of 500,000 users, spurring the tech giant to make a slew of privacy changes and shut down the Google Plus service for consumers.

“The story here isn’t really about Google, it’s about our atrocious cybersecurity — not just in social networks, but in banking or voting systems,” he said. “Whenever I talk to the real cyber experts, they tell me the lights are blinking red, that we’re so vulnerable, and we need to do a lot more to make our information system secure.”

Image Credit:   Street Signs/ CNBC

Thanks to Dr. ir Johannes Drooghaag. Follow him on twitter:@DrJDrooghaag

Read more at cnbc.com

News This Week

Could COVID-19 have wiped out the Neandertals?

Everybody loves Neandertals, those big-brained brutes we supposedly outcompeted and ultimately replaced using our sharp tongues and quick, delicate minds. But did we really, though? Is it mathematically possible that we could yet be them, [...]

How COVID-19 Reaches the Brain

Using post-mortem tissue samples, a team of researchers from Charité – Universitätsmedizin Berlin have studied the mechanisms by which the novel coronavirus can reach the brains of patients with COVID-19, and how the immune system [...]