It was just announced the other day that Microsoft may receive more than $150,000,000 from the United States Government for cyber security. The Biden administration has proposed $10 billion in funding for IT and Cyber federal agencies. It is clear that the United States federal government is trying to ramp up their spending, especially after the SolarWinds hack. With the $150 million that Microsoft has been awarded, it’s evident that service of large companies will be needed in the Government’s task of beefing up security.
In May 2020, the FBI claimed that there is a “systematic campaign by the Chinese government to gain economic advantage by stealing the innovative work of U.S. companies and facilities.” Billions of dollars of trade secrets and IP have been stolen from US companies. If the US Government does not keep up with their cybersecurity they might find themselves at the hands of a destructive hack from a foreign government.
The United States does recognize the dangers of a cyber attacks, and to prevent themselves from being a victim of cyberwarfare, it is in the country’s best interest to continue cybersecurity spending. With expected growth in cybersecurity spending by the US government in the years to come, it is safe to say that the United States government will be contracting tech companies to perform multiple cybersecurity tasks.
2. Health Care
The health care industry has been extraordinarily innovative in the past few years with incorporating technology with medical records. Patients now have access to “health portals” where they can access all their medical records with just their smart phones. As a result of the recent increased use of technology in the field, health care has seen a 55% increase in cyber hacks in 2020. Telemedicine has made life more convenient to many patients. Conversely it has been inconvenient for the current cyber security infrastructure of many health groups.
The health care industry is looking to strengthen spending to prevent ransomware attacks in the future. With cybersecurity on the forefront in the health care industry, there will be more job opportunities in cyber security.
3. Energy Companies
There is a Green wave among us. The future for Clean Energy (Solar, Wind, Water, Geothermal, Nuclear, etc), is on the rise. Clean energy already generates billions of dollars in economic activity and will only become easier to produce with economies of scale. Car companies have seen this trend and are attempting to convert to electric cars by 2030.
Clean Energy companies show a lot of promise with the expected economic activity. While this is great for Clean Energy companies, it also means they will be a larger target for ransomware or cyberwarfare. If a hacker wants to, they have the ability to create power outages if they can successfully hack into a wind farm or nuclear facility. The consequences of a hack on a Clean Energy facility could be devastating. Clean Energy companies have money to spend and some of it will be spend on protecting their assets, and assuring their customers that their power will be safe from malevolent acts.