Why Cyber Risk Demands Board-Level Attention
The digital transformation of business is relentless — and so are the risks. As businesses embrace digitalization and artificial intelligence (AI), the potential for cyber attacks grows exponentially. Cyber risk is not just an IT concern; it’s a whole-enterprise strategic, financial and reputational imperative.
With the global average cost of a data breach reaching a record $4.88 million in 2024,1 the stakes have never been higher. The reality is that what worked yesterday may not be enough tomorrow. Sophisticated hackers, AI-driven threats and interconnected systems mean even well-prepared organizations are challenged to keep pace.
That’s why cyber threats have been ranked as the number one risk facing businesses in our Global Risk Management Survey for the third time in a row.
