Strengthening digital society against cyber shocks
Across the globe, businesses are racing to implement new technologies, using data to innovate and grow in an increasingly interconnected world. But as companies become more reliant on cyber capabilities, they must also recognize and manage the associated risks. To compete in the emerging digital world, companies must protect themselves from cyber risks, and become more resilient to cyber shocks – large-scale events with cascading disruptive consequences.
In the months ahead, we’ll explore key findings from the Global State of Information Security® Survey 2018, which draws on the responses of 9,500 executives in 122 countries and more than 75 industries. The first focus area in this series is why businesses are vulnerable to cyber disruptions – and how leaders can help their organizations build resilience to sustain operations and boost economic performance in the face of such challenges.
The second focus area will explore themes related to privacy and trust. In the third focus area, we’ll look ahead at the long-term future of cybersecurity.
With the internet of things (IoT) becoming ubiquitous, and consumers demanding products with an emphasis on cyberscurity and privacy, organizations are investing in revamping their security policies. Key IoT investment areas include policies and technologies to protect consumer privacy, as well as data governance policies.
Business leaders are clear-eyed about new risks tied to emerging technologies. GSISS respondents recognize that a successful cyberattack on automated or robotic systems could have major consequences, including the disruption of operations, the compromise of sensitive data, and damage to product quality.
Cyberattacks that manipulate or destroy data can undermine trusted systems without the owner’s knowledge and have the potential to damage critical infrastructure.
Incidents attributed to hackers, competitors and other outsiders have declined. However, those attributed to insiders, such as third parties—including suppliers, consultants and contractors—and employees, have stayed about the same or increased.