Cybersecurity concerns represent the most serious risk facing organizations, beating inflation, talent acquisition/retention and rising production costs, according to a new PwC study.
The PwC Pulse: Managing business risks in 2022 report was compiled from interviews with 722 US C-suite executives.
Two-fifths (40%) ranked cyber-attacks as a serious risk, rising to 51% of board members. PwC said boardrooms may be getting more attuned to cyber risk after new SEC proposals were published in March that would require directors to oversee cybersecurity risk and be more transparent about their cyber expertise.
In fact, executives appear to be getting more proactive with cybersecurity on a number of fronts.
Some 84% said they are taking action or monitoring closely policy areas related to cybersecurity, privacy and data protection. A further 79% said they’re revising or enhancing their cyber risk management approaches, and half (49%) pointed to increased investments in cybersecurity and privacy.
By way of comparison, 53% said they’re increasing investment in digital transformation and 52% in IT.
“Cybersecurity is a strategic business enabler – technology is the…
