Wednesday, February 8, 2023

86% of executives fear a global cyberattack in the next 2 years

86% of the world’s business leaders believe that a cyberattack with “catastrophic consequences for all” is likely to occur in the next two years, mainly due to geopolitical instability, according to a report published alongside the Davos Forum.

The report by the World Economic Forum (WEF) and the consulting firm Accenture adds that a large majority of cybersecurity experts (93%) believe that societies are threatened by this type of attack.

According to the report, cyber attackers are changing their strategy and now mainly seek to damage the reputation of companies.

Almost half of those surveyed by the WEF (48%) believe that their cybersecurity teams lack some of the necessary skills to deal with situations of this type.

The sector that is most concerned about this issue is public energy services: a quarter of employers believe that they lack the necessary skills to act in the face of an attack of this type.

That is why the willingness of managers to assume changes in the cybersecurity of their companies is very high and only 2% of businessmen are not willing to face them, according to the WEF.

In addition, 79% of those surveyed consider that establishing regulations within the digital environment of companies is effective or very effective in reducing cyber risks.

In this sense, most businessmen believe that cybersecurity failures that affect the entire supply chain and their business partners increase the risks for their own corporations.

The cybersecurity conditions in the different countries are also decisive for half of the entrepreneurs when deciding where to launch new businesses or investments.

However, WEF experts warn that, despite having become aware, managers tend to “speak different languages” when it comes to cybersecurity.

Getting a common language and metrics developed for the boards of the world’s leading companies is a priority, according to the WEF report.

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