Cybercrime is on track to cause $10.5 trillion worth of damage to the global economy in 2025, according to Cybersecurity Ventures. More businesses are operating online than ever before, which leaves them vulnerable to attackers who can strike at any time of the day, and from anywhere in the world.
Zscaler (NASDAQ: ZS) is a leader in zero-trust cybersecurity, and it has observed a whopping 111% increase in spyware attacks over the past year alone. It’s a dangerous type of software that infects computers and steals sensitive data like financial information or the credentials of important employees, and Zscaler can help prevent the fallout.
Are You Missing The Morning Scoop? Breakfast News delivers it all in a quick, Foolish, and free daily newsletter. Sign Up For Free »
Zscaler stock is down 44% from its all-time high, which was set during the tech frenzy in 2021, but that hasn’t deterred Wall Street. Here’s why investors might want to follow their lead.
Technologies like cloud computing allowed businesses to tap into a global customer base and hire employees from a global pool of talent. Both of those things are great, but they also come with risks. Managers now have to monitor workers who might be in an entirely different country, so they can’t physically see them accessing company networks or sensitive data.
As a result, there is no way to know whether a remote worker is making a genuine sign-on attempt, or if their credentials were stolen. Traditional cybersecurity software can’t protect against such threats, so that’s where Zscaler’s Zero-Trust Exchange platform comes in. It starts by treating every login attempt as hostile, analyzing not only the person’s username and password, but also their location and the device they are using, to make sure it’s really them.
Moreover, Zscaler only connects the employee to the digital applications required for their job. Therefore, even if a malicious actor breaches the identity layer, they can’t access the organization’s entire network or compromise sensitive data.
Artificial intelligence (AI) plays a key role on Zscaler’s platforms, because it allows tasks like identity verification to be completed in seconds. However, the company is also expanding its product portfolio to include protection for companies using AI. With Zscaler, organizations can securely deploy AI copilots, chatbots, and virtual assistants with confidence thanks to new tools that restrict their access to sensitive information and prevent data leaks.
