What is the role of encryption in managing cybersecurity risks?

Encryption plays a crucial role in protecting sensitive information and mitigating cybersecurity risks by transforming data into a coded form that can only be accessed or deciphered by authorized individuals or systems. It ensures that even if unauthorized parties gain access to data, they cannot interpret it without the encryption key. This helps in safeguarding data confidentiality, integrity, and authenticity. Encryption is widely used in securing communications, storing data securely, and preventing unauthorized access to sensitive information, thus significantly reducing the risk of data breaches and cyber threats.