According to the Global Cybersecurity Outlook 2023, 93% of cybersecurity leaders and 86% of business leaders think a far-reaching, catastrophic cyber event is at least somewhat likely in the next two years. Additionally, 43% of organizational leaders think it is likely that a cyberattack will affect their organization severely in the next two years.
With cybersecurity concerns on everyone’s mind, the topic received top billing at the recent World Economic Forum’s Annual Meeting 2023 in Davos, Switzerland. At the meeting, Matthew Prince, the CEO of Cloudflare, emphasized the enormous amount of cyber insecurity around the world. He also predicted that 2023 will be a busy year in terms of cyberattacks. Other leaders echoed his sentiments and concerns throughout the meeting.
“There’s a gathering cyber storm,” Sadie Creese, a professor of cybersecurity at the University of Oxford, said during an interview at the meeting. “This storm is brewing, and it’s really hard to anticipate just how bad that will be.”
Leaders’ Response to Increasing Threats
In addition to the increase in attacks, leaders are concerned that world conditions make a serious cyber event more likely. Not surprisingly, world unrest is a top reason for the increased focus on cybersecurity. The majority of organizations (74%) reported that global geopolitical instability has influenced their cyber strategy “moderately” or “substantially”. Additionally, their biggest concerns regarding cyberattacks are business continuity (67%) and reputational damage (65%).
The report found that leaders plan to take quick action in response to the predicted increase in threats. The top response is to strengthen controls on thi ..
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