Business and cyber leaders polled by WEF worry that geopolitical unrest will trigger a “catastrophic cyberattack” in the next two years. Here’s what you need to know.
A two-year global pandemic. The war in Ukraine. The inflation and cost of living crisis. Increasingly frequent natural disasters and extreme weather events. One thing that these severe geopolitical and economic crises have in common is that they constantly change the cyberthreat landscape, making it more difficult for businesses to keep pace and defend themselves, as emboldened cyberattackers get craftier and more sophisticated.
How will global unrest heighten cyber risk in the medium and long term? That’s an issue that the World Economic Forum explored in two recent reports: World Economic Forum’s Global Risks Report 2023 and Global Cybersecurity Outlook 2023. The reports examine the cybersecurity trends that will impact our economies and societies in the years to come, and serve as a call to action, urging businesses and organizations to build cyber resilience. A key finding: A majority of cyber and business leaders worry that geopolitical instability will cause a major cyberattack at some point in the next two years. Here’s what you need to know.
Cybersecurity ranks 8th in the WEF’s top 10 global risks
The WEF’s Global Risks Report 2023 ranked cybercrime and cyber insecurity as the eighth most severe global risk within a two-year and a 10-year period, making it clear that cyber risks will remain a constant and significant concern over the next decade.
The report is based on a survey of 1,200 - plus risk experts, including the WEF’s Global Risks Report Advisory Board and its Chief Risk Officers Community, as well as thematic experts from academia, business, the international community, civil society and the government.