Global Outlook: World Economic Forum's warning on cyber challenges we all face
In their 2024 Global Security Outlook, the World Economic Forum (WEF) cited the accelerating inequity between organisations that are cyber resilient and those disproportionately impacted by the evolution of ransomware.
Identifying the minimum viable function of a business has become a driving factor in investment decision-making, and this growing divide in offensive and defensive cyber capabilities requires urgent action.
Whether it is addressing the skills gap in security or heightened anxiety around generative artificial intelligence (AI), the relative direction of travel has remained the same. However, prioritisation of risk management activities has changed.
In 2023, the cyber security economy grew four times as fast as the world economy, which has been driven by investment in new technologies and tooling to improve protection of digital assets.
Chief Information Officers (CIO) and Chief Information Security Officers (CISO) have become increasingly aware of the activities necessary to reduce exposure, mitigate risk and minimise operational disruption.
Cybersecurity is a business problem, not just a technology problem, and as the breadth and depth of impact grows, strategic involvement will be a foundational requirement from business leadership across organisational hierarchies.
Our Senior Managing Consultant Sasha Henry and Cyber Analyst Archie Millar summarise the cyber threats recently identified by the World Economic Forum.
Read more: https://www.scl.org/global-outlook-world-economic-forums-warning-on-cyber-challenges-we-all-face/