TechCentral and Publishared recently hosted a round-table discussion on cryptography and data security, which was sponsored by Altron, Synthesis and Thales and which brought together leaders and professionals from various industries to explore the evolving role of data in business operations.
The discussion was rich with insights, covering critical areas such as data value, security, compliance, artificial intelligence and the future of data-driven decision making. Participants shared their experiences and challenges, offering a comprehensive view of how organisations are adapting to the ever-changing data landscape.
The strategic role of data in business
They began by acknowledging that data is not just an operational asset but the lifeblood of modern businesses. It informs strategy, customer experience, investment decisions and return on investment. However, the question arose: are businesses truly maximising their data’s potential?
A key discussion point was data quality – ensuring that organisations collect and maintain high-integrity data. Without clean and accurate data, insights become unreliable (garbage in, garbage out). They explored how businesses could enrich and refine data to increase its utility and overall business value. The conversation naturally led to the question of how to assign value to data.
They discussed the importance of aligning security measures with the value of the data being protected. For example, investing in a US$10-million security solution for data worth only $50 000 is not justifiable. This led to an exploration of the broader concept of the data economy, where data is monetised and its value is directly tied to its utility and relevance.
Data value and monetisation
Assigning value to data remains a challenge and the conversation naturally evolved into data monetisation and how businesses can assign tangible value to data? This led to a broader discussion on the data economy – how organisations leverage data as a revenue stream while maintaining privacy and compliance. They also discussed how businesses can break down silos and enhance data collaboration through cryptographic solutions, enabling secure data sharing while preserving privacy.
Data security and collaboration
A significant hurdle discussed was the concept of collaboration, both internally between departments and externally with partners. A key takeaway was the importance of anonymising and encrypting data to maintain security while still deriving value. The participants in the round table debated methods of stripping personally identifiable information to allow secure data sharing without compromising security policies, ethics or regulations.
Another area of concern was dated data. As businesses move towards real-time data utilization, old and outdated data loses relevance. The shift towards live-streaming data and AI-driven insights was acknowledged as a necessity for businesses striving to remain agile and competitive in 2025 and beyond. Participants also critiqued some regulations, particularly in regions like the EU, where fines for non-compliance could sometimes be seen as a cheaper alternative to investing in expensive security measures. This raised a broader question: do existing regulations genuinely improve security, or do they create unnecessary barriers to business innovation?
Data security as a business enabler
One of the most engaging discussions centred on the changing perception of security – specifically, positioning security as a business enabler and using robust data security measures as a differentiator in the market, appealing to customers who value data ethics and trust.
Round-table participants also explored the challenge of securing data while maintaining agility. Businesses need real-time insights but must balance speed with security. They debated how security gates and controls can be implemented without stifling innovation and discussed how encryption, for example, can facilitate data sharing between departments or even businesses within the same industry, breaking down silos and enabling more informed decision making.
Bridging the gap between security and business leaders
Many organisations struggle to communicate data security needs to executives and board members effectively. One attendee pointed out that CISOs and CIOs often fail to speak the board’s language, making it difficult to secure investment in security initiatives.
Instead of focusing solely on cyber risks, security leaders must frame discussions around how data security drives business value, efficiency and competitive advantage. Participants dived into the aspect of positioning and being able to align technical solutions to business gains.
Data discovery and platforming challenges
The discussion then moved into data discovery and platforming. Many organisations struggle with data silos, where valuable data is hidden across different business units and divisions. We discussed the importance of finding ways to discover and pool data from various sources, while also addressing the concerns of different teams through robust security and encryption mechanisms – allowing them to benefit from the use of the data without the challenges of it containing to sensitive information.
The evolving role of the CFO in data security
The conversation expanded beyond traditional security leadership roles, emphasising that cybersecurity is now a burden to chief financial officers. As cybersecurity investments become a critical budgetary consideration, CFOs need a deeper understanding of security risks and solutions. This shift is driving more informed financial decisions around security spending and investment in risk mitigation strategies.
Round-table panellists discussed how this change is driving more intuitive customer experiences and better business outcomes, as CFOs are now more involved in understanding the value of data and the need for innovative solutions to address gaps and fine-tune strategies. This also has a direct impact on the quality of the questions being raised about data, its security and the business’s investments in this space. Ultimately this raises the bar in terms of the questions the business can ask about data, its security and how we value that data in the first place.
Skills and the global data landscape
The discussion also touched on the loss of South African professional skills. Participants shared insights from different countries, like Nigeria, where repatriation of skills is prevalent and these professionals, having gained experience in more complex developed-world environments, bring back this thinking and innovation. There could be a “brain-gain approach” to entice skilled professionals back to share their valuable knowledge and skills in South Africa.
Participants also discussed the challenges of adopting new data-related technologies, particularly in regions like South Africa where some global innovations are not yet viable.
Key takeaways
- The value of data must be carefully assessed to ensure that security investments are proportionate to the data’s worth.
- Breaking down data silos and enabling secure data sharing through encryption is critical for collaboration.
- Businesses need to drill down into the utilisation of mechanisms that provide real-time data insights to improve agility and guide business strategy.
Conclusion
The round table provided a comprehensive exploration of the challenges and opportunities in cryptography and data security. From the importance of data quality and value to the evolving role of AI, the discussion highlighted the need for a balanced approach to data security that enables business growth and innovation. As businesses continue to navigate the complexities of the data landscape, the insights shared during this event will serve as a valuable guide for future strategies and data decisions.
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