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Boards must evolve to bridge the cyber training gap

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TLDR:

A report by Bob Semple, Board Intelligence, and The Corporate Governance Institute reveals that many board members lack support and training in cyber resilience. The research found that 60% of board members have not received sufficient cyber resilience training in the past year.

The report highlights the concern that CEOs lack confidence in their organizations’ ability to protect against cyberattacks, despite recognizing the importance of cybersecurity for business growth.

David W Duffy, CEO and co-founder of the Corporate Governance Institute, emphasizes the need for boardrooms to keep pace with technological advancements and provide proper training to board members. Cybercrime can have severe consequences for a company’s financial stability, brand identity, and market worth.

A separate finding from the research indicates that while the use of technology in the boardroom has increased since the COVID-19 pandemic, 82% of directors believe they could be making better use of technology to improve board performance. This includes the use of secure board portals and audio and video communication technologies.

Board members must take necessary precautions to safeguard their systems, including regular training and awareness programs. Policies and procedures should be reviewed and updated regularly, and board members should be held responsible for any security breaches.

The article also promotes Technology Magazine’s latest edition and invites readers to sign up for their global conference series, Tech & AI LIVE 2024.

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