Ransomware Costs Surge as Quantum Computing Risks Loom: How Data Security Stocks Are Responding

USA News Group News Commentary

Issued on behalf of Scope Technologies Corp.

VANCOUVER, BC, Oct. 2, 2024 /PRNewswire/ -- USA News Group News Commentary – Ransomware is on the rise, according to the IBM Cost of a Data Breach Report 2024, with the global average cost of a data breach reaching $4.88 million this year, for a 10% increase over 2023. As computing power and technology advances, so too does the ability of cybercriminals to penetrate vulnerabilities, with 55% of companies reporting modern cybercriminals are now more advanced than their internal teams. With the rise of quantum computing the G7 Cyber Expert Group (CEG) recently advised the G7 Finance Ministers and Central Bank Governors encouraging jurisdictions to monitor quantum computing development, and begin planning for the potential risks quantum computing poses on some current encryption methods. Several tech developers are currently working on AI-powered, and future-proof quantum computing security to protect data today and tomorrow, with recent developments coming from, including: Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), Gen™ (NASDAQ: GEN), Palantir Technologies Inc. (NYSE: PLTR), Veritone, Inc. (NASDAQ: VERI), and SentinelOne, Inc. (NYSE: S).