Global Cybersecurity Outlook 2022

Global Cybersecurity Outlook 2022: Relevance

• GS 3: Awareness in the fields of IT, Space, Computers, robotics, Nano-technology, bio-technology and issues relating to intellectual property rights.

Global Cybersecurity Outlook 2022: Context

• Recently, World Economic Forum has released a first every report on cybersecurity and presented findings on how to shift from cybersecurity to cyber resilience.

Global Cybersecurity Outlook 2022: Key points

• The report has highlighted that digitalization has grown tenfold during the COVID-19 pandemic.
• The World Bank estimates that, by 2022, annual total internet traffic will increase by about 50% from 2020 levels.
• The pandemic has also shown us how interconnected all businesses are and how increased digitalization has thrust the global population onto a new trajectory of cyber threats and attacks.

Global Cybersecurity Outlook 2022: Addressing gaps in cyber resilience

• Prioritizing cyber in business decisions: while 92% of business executives surveyed agree that cyber resilience is integrated into enterprise risk management strategies, only 55% of security-focused executives surveyed agree with the statement.
• Gaining leadership support for cybersecurity: 84% of respondents say cyber resilience is considered a business priority in their organization with support and direction from leadership, but a smaller number (68%) see cyber resilience as a major part of their overall risk management.
• Recruiting and retaining cybersecurity talent: The survey found that 59% of all respondents would find it challenging to respond to a cybersecurity incident owing to the shortage of skills within their team.

Global Cybersecurity Outlook 2022: Major cybersecurity attacks

• Ransomware: 80% stressed that ransomware is a dangerous and growing threat to public safety.
• Social engineering attacks: Ransomware attacks are increasing in frequency and sophistication and were followed by social engineering attacks as the second-highest concern for cyber leaders.
• Malicious insider activity: A malicious insider is one of an organization’s current or former employees, contractors or trusted business partners who misuse their authorized access to critical assets in a manner that negatively affects the organization.

Global Cybersecurity Outlook 2022: Cyber resilience of small and medium businesses

• The technology developments like automation and machine learning, will increase the already existing imbalance between attackers and defenders.
• Cybersecurity is not a separate technology, but rather a priority of the systems spanning technology, people and processes in the Fourth Industrial Revolution.
• The ongoing shift from cybersecurity to cyber resilience is an important step towards a more trustworthy and sustainable future.

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