After reading the latest McKinsey Article “Cyber security Trends: Looking over the horizon” it is clear that organisations need to think about how their growth will impact security and how they plan to mitigate risk.
Post pandemic, organisations have a similar agenda to achieve their business goals and are
Looking to move to a hybrid workspace as this is what employees are requesting. Looking to improve and impact their customer experience to truly differentiate from their competitors Accelerating their digitalisation plan. What does the next two years look like and what technology investments do they need to make? There might be one or more that relate to you and your organisation. One of the points mentioned by McKinsey was. “It’s great that organisations are looking to grow and evolve but have they considered what the Cyber security implications would be in the future.”
Below I have taken one of the extracts that speaks to the ‘future outlook for the cybersecurity market’.
The article continued to note that over the next three to five years these are the three major cyber security trends that will have the biggest implications for businesses as they see growth.
- ‘On-demand access to ubiquitous data and information platforms is growing’
- ‘Hackers are using AI, machine learning, and other technologies to launch increasingly sophisticated attacks’
- ‘Ever-growing regulatory landscape and continued gaps in resources, knowledge, and talent will outpace cybersecurity’
Organisations need to find ways to improve their technology platforms in order to secure their crown jewels. The attacks are getting more sophisticated, so Cyber security leaders need to constantly be educating themselves in order to be ahead. “The cost of not being ahead could mean an impact of over $250,000 per year to top line revenue on average and this number is increasing.”
Source: https://www.mckinsey.com/business-functions/risk-and-resilience/our-insights/cybersecurity/cybersecurity-trends-looking-over-the-horizon, March 10th, 2022