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2024 WEF Cybersecurity Forecast: Tackling Global Cyber Inequity Head-On

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TLDR:

The WEF Global Cybersecurity Outlook 2024 report highlights the increasing cyber inequity between cyber-resilient organisations and those that are struggling. The report highlights the following key points:

  • The number of organisations maintaining a minimum level of cyber resilience is decreasing, particularly within small and medium-sized enterprises (SMEs).
  • Emerging technologies, such as Generative AI, will further widen the divide between the most capable and least capable organisations.
  • A systemic solution is needed to address the cyber-resilience capacity gap across organisations and countries.
  • The factors contributing to cyber inequity include the cost of accessing cyber services, tools, and talent, as well as early adoption of cutting-edge technology by large organisations.
  • Differences in regulations, responses to cyber challenges, and access to cyber insurance and skills also contribute to the widening cyber divide.
  • Affordability is a critical factor in achieving cyber-resilience success, requiring the development of risk-appropriate, affordable, and fit-for-use cyber-resilience architectures.
  • A collaborative effort is needed from SMEs, multinational corporations, NGOs, and governmental organisations to raise systemic resilience.

The report underscores the need for urgent action to address the cyber-resilience gap and ensure equitable access to cyber expertise, technology, and security tools. Ultimately, the effects of cyber inequity will impact everyone in the digital economy, emphasizing the importance of a collective effort to enhance global cybersecurity.

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