Workshop: Mitigating the Cybersecurity Risk
With damages from cyberattacks predicted to cost the world around $6 trillion annually by 2021 (Cybersecurity Ventures), the nature of the cybersecurity threat continues to proliferate at an alarmingly rapid pace. Over one-third of organizations that experienced a security breach in 2016 reported substantial customer, opportunity and revenue loss of more than 20% (Cisco). According to a recent survey conducted by PwC of over 50 CEOs in the Arab region, 77% are more concerned with cyber threats this year in comparison to 66% last year. Around 62% of regional CEOs said they would be investing more heavily in customer cyber protection measures, compared to just 50% globally. Against this backdrop, the Middle East cybersecurity market is forecast to double in size from $11.38 billion in 2017 to $22.14 billion by 2022 (Research and Markets). This growth is being largely driven by the rising number of digital services and connected solutions, which in many cases have not been designed to cope with emerging security threats. This eye-opening workshop will debate the best approaches to achieving resilience and protecting companies and consumers alike from the ever growing threat posed by cyberattacks.