91% of companies report cyber incidents

91% of companies report cyber incidents

91% of organizations in a global survey report at least one cyber incident in the past year, up 3% from last year. 56% say consequences were moderate or large.  86% of cyber decision-makers say their focus on cyber has made a significant, positive contribution to business, according to consultancy Deloitte Global’s 2023 Global Future of Cyber survey comprising 1000 leaders across 20 countries.

“This year’s report shows how cyber is now woven more tightly into business operations, outcomes, and opportunities. Chief information security officers  are most successful when they are connectors across their organization, focused on enabling their organization’s highest business priorities,” says Emily Mossburg, Deloitte Global Cyber Leader. 

“Cyber has become an enabler for business and embedding it into all business practices has shown nothing but success. Advancing cyber will only become more critical as the global economy faces a potential downturn and businesses navigate a looming recession.”

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Deloitte says global industries continue to navigate constant disruption propelling leaders to adjust their priorities and business initiatives to consider the latest technologies, while also working with extended ecosystems to develop solutions—including data protection and privacy, cyber cloud, infrastructure security, and application security. 

The report says:

  • Cloud is now the number one digital transformation priority for leaders, up from the number two spot in 2021, displacing data analytics.
  • 5G, a newcomer, takes a spot within the top five priorities for businesses, reflecting the growing role of the technology within business ambitions and proving that, while 5G can enable new business models like telemedicine and asset tracking in manufacturing, it also expands the attack surface continuing the need to embed cyber at the start.
  • Highly mature companies saw 30%+ more value from third-party cyber services such as cyber strategy, data protection and privacy, cyber cloud, infrastructure security, and application security.
  • 76% of respondents reported use of automated behavior capabilities to detect and mitigate cyber risk, compared to 53% in 2021.

Cyber planning and talent can bring innovative solutions that support future business models and identify unforeseen challenges, the report says:

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  • 87% of highly mature organizations were more likely to have robust plans in place for incident response. 
  • High-cyber-maturity companies (60%) are three times as likely as low-cyber-maturity organizations (20%), and twice as likely as medium-cyber-maturity organizations (30%) to conduct incident-response scenario planning at the organizational and/or board level.
  • 70% of respondents reported cyber was regularly on their board’s agenda, suggesting that cyber is evolving into a distinct functional area of the business.
  • A lack of skilled cyber professionals is reported to be a top challenge in managing cyber, according to 47% of high-cyber-maturity organizations, suggesting that organizations appreciate the importance experienced talent can bring to cyber efforts.
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