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How Europe Plans to Minimize 5G-Induced Risks
Risk management takes on new forms as Europe enlists the vulnerabilities from the ongoing 5G revolution.
FREMONT, CA: The potential of 5G in powering improved efficiencies across the business ecosystem is significant. But, the network enhancements bring with them a set of security vulnerabilities that can pose as threats for enterprises. The European nations have taken cognisance of this and are working towards securing their 5G networks. It is understood that in the near future, connected devices will be everywhere. Wireless 5G networks will drive critical infrastructure and utilities. By creating the roadmap for better risk management, European countries are progressing in the right direction.
Europe leads the way in safeguarding the privacy and bolstering cybersecurity with stringent laws. The European Commission's recent report regarding cybersecurity risks from 5G networks helps draw the attention of European countries towards potential risks that could result from advanced connectivity. According to the report, industries might be exposed to more entry points for risks. Similarly, changed network architecture could make network equipment prone to security hazards. In order to mitigate these, enterprises need to develop better intelligence regarding security issues and opt for trustworthy equipment-providers only.
The report also talks about the threats posed by suppliers from other countries. European regions that rely on external mobile network providers are expected to face security challenges. To pr
event the supplier-related cyber risks from escalating, risk management should be prioritised at organisational levels. Every company should consider the risk profiles of service providers before making any deals. Risk scores often help facilitate a minimum-risk approach.
Another way European companies can look to lessen the impact of 5G generated risks is by opting for multiple suppliers and service providers. When companies depend on a single supplier of 5G equipment, a single point of risk can multiply to impact a majority of operations. On the other hand, the strategy of diversification reduces the possibility of exploitation. For the IT industry, 5G will become the primary driving force. Thus, the European IT industry is expected to forge the best cybersecurity plan. An integrated approach by stakeholders across industries towards developing 5G infrastructure can significantly close the security loopholes that 5G might present.
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