PwC – Global Digital Trust, 2024

PwC's 2024 Global Digital Trust Insights survey reveals that despite increasing excitement and budgets for cutting-edge security programs, progress in improving security remains slow. The survey, which included responses from 3,876 business and tech executives at large global companies, highlights the need for significant improvements in cybersecurity. The survey findings show that breach costs and the number of high-dollar breaches continue to rise. While cloud attacks are the top concern, about one-third of organizations have no risk management plan to address challenges with cloud service providers. Additionally, only half of the respondents are "very satisfied" with their technology capabilities in key cybersecurity areas, and more than 30% of companies do not consistently follow standard practices of cyber defense. The authors suggest that security should be at the epicenter of innovation, a field where bright ideas and ambitious goals thrive. They envision a world where the Chief Information Security Officer (CISO) plays a central role in securing an organization's ambitions and valuable assets. The authors highlight the top 5% of respondents, who they call the "stewards of digital trust." These companies experience fewer breaches, and when breaches do occur, they are less costly. They have streamlined their security solutions, making risk management easier, and are positioned for greater productivity and faster growth. These companies confidently embrace new technologies, knowing they are well protected and outpacing their competition.