“McKinsey found that there is a lack of sufficient infrastructure and access to the digital economy for all.

The threat of cyber theft is a constant problem globally. Companies have continuously evolved their hardware and software to catch up with cybercriminals and online syndicates. Network intrusions and bots poking in e-mails with fake links have become commonplace.

One solution to the problem is a plug-and-play device which could warn you of threats. The device is called Pangolin and it promises active vulnerability scanning into open ports, potential malware sites, and countless exploit points that may lead to loss of control and access to data or to information being stolen.

The unit is designed to protect against malware propagation, ransomware, resource hijacking, phishing, data theft, and spying. As homes are also getting “smarter,” more people are finding ways to penetrate systems applied to domicile control.

There are instances when strangers’ voices are heard on baby cameras, smart lightbulbs being controlled remotely by strangers, and a city in Massachusetts, USA being held hostage to the amount of $5.3 Million to release files that are public and confidential.

Pangolin also has a Passive Network Monitoring system which reviews both internal and external network traffic to prevent malicious hackers and other cybercriminals.

Negative disruption has been a theme for news reports and articles despite all the good intentions of various technologies being manufactured and developed. The McKinsey Global Institute, however, sees technologies addressing structural and transition challenges.

McKinsey listed the following as technologies that will benefit society: Data and Artificial Intelligence, Connectivity and Platforms like mobile internet and cloud, robotics, “The Internet of Things” which include networks of sensors and devices to collect data, Virtual and Augmented Reality, Digital Fabrication and 3-D Printing, Biotechnology, and Clean Technology which consists of renewable energy sources.

The challenges, however, remain especially in the area of implementation. The study of McKinsey found that there is a lack of sufficient infrastructure and access to the digital economy for all. They also noted that there is a high level of required investment and high complexity of implementation.

The risks should also be enumerated such as data violation and cyber fraud. These problems require legislation and enforcement to mitigate their impact. They will also involve shifting cultural norms.

The government and its stakeholders all have roles to play in overcoming risks and obstacles. McKinsey suggests that civil society will need to contribute to ensure that Technology For Good tools are employed for the welfare of everyone. Businesses also have opportunities to help as their decisions have direct impact on individuals that they employ and consumers that they sell to.

“Government action is a key for managing technology transitions and encouraging innovation,” McKinsey added. This is where the Department of Information and Communications Technology should lead.