WEF – Global Cybersecurity Outlook, 2024

The World Economic Forum's Global Cybersecurity Outlook for 2024 highlights the consequences of a polarized geopolitical order, armed conflicts, and economic uncertainty on the cybersecurity economy. Despite these challenges, the cybersecurity sector experienced exponential growth, outpacing the overall global economy and the tech sector. However, this growth was not uniform across organizations and countries, leading to a clear divide between cyber-resilient organizations and those struggling to keep up. The report identifies various factors contributing to this cyber equity divide, including the threat landscape, macroeconomic trends, industry regulation, and early adoption of transformative technologies. Additionally, the rising cost of accessing innovative cyber services, tools, skills, and expertise acts as a barrier to building a more secure cyberspace. The disappearance of a "middle grouping" of organizations that maintain minimum standards of cyber resilience has further amplified this divide. While many organizations have made progress in enhancing their cyber capabilities, the report emphasizes the need for urgent action to address the growing cyber inequity. The disparity is particularly impacting small and medium enterprises (SMEs), which lack the necessary cyber resilience to meet critical operational requirements. Additionally, the report warns that emerging technologies, such as generative AI, will exacerbate existing challenges related to cyber resilience. Organizations must understand the implications of these technologies on their cyber resilience posture. The majority of surveyed executives believe that generative AI will give an advantage to attackers rather than defenders. Furthermore, the cyber-skills and talent shortage continues to widen, with half of the smallest organizations lacking the skills to meet their cyber objectives. Only a small percentage of organizations are optimistic about significant improvements in cyber skills and education in the next two years. Public organizations mention a lack of resources and skills as their biggest challenge in designing for cyber resilience. In conclusion, the report highlights the need for proactive measures to bridge the cyber equity divide, address the impact of emerging technologies, and overcome the widening cyber-skills gap.