Cyber threats are some of the biggest challenges organizations face, but cybersecurity failure is still seen as a critical short-term risk.. By Artem Nikulchenko. By Candid Wüest, Nisha Almoula, Roman Hagen @weforum.org.
Cyber risk is one of the main challenges that organizations face today. The World Economic Forum’s Global Risks Report 2022 highlights how cyber threats have intensified through digital transformation and growing digital dependency.
The article then walks you through:
- 80% of firms have suffered a cybersecurity breach
- Boards should prioritize cyber risks in planning
- Strategic involvement is vital to secure assets and services
- Cross-functional coordination can strengthen response capabilities
- Collaboration is key to being ‘cybersecurity ready’
Most executives and board members are aware of key global cyber threats and recognize cybersecurity risk as an enterprise-wide risk, but not everyone understands the impact of these cyber risks and their economic drivers.
Cybersecurity must be a core strategic priority, and ownership and accountability for cybersecurity risk management activities must be adopted both within and outside the CISO organization. Nice one!
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