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A demand for cybersecurity professionals.

Lack of cybersecurity professionals as cybercrime surge

Losses from cybercrime are expected to surge in the next five years, rising from USD 8.44 trillion in 2022 to approximately USD 11 trillion in 2023 and potentially reaching approximately USD 24 trillion by 2027, market research firm Statista estimates. There is an increasing demand for cybersecurity professionals.

Cyberattacks on healthcare are increasing. New research shows healthcare is the third most targeted industry in 2023, ahead of finance, insurance and communications. The attacks more than doubled in the US from 2016 to 2021. 

Zero trust is a security model that operates on the principle of, Never trust – Always verify, should be implemented to secure patient data, argues Itai Greenberg, Chief Strategy Officer at Check Point Software Technologies, in a blogpost for World Economic Forum’s centre for cybersecurity.

“As healthcare organizations continue to evolve digitally, one thing has become clear – patient welfare cannot come first if the digital systems supporting it are threatened”, he writes.

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Research from Check Point Software Technologies shows the healthcare sector experienced an average of 1,684 attacks per week in Q1 2023 – a year-on-year increase of 22%.  

“The demand for cybersecurity professionals has increased significantly over the last decade: In June 2022, there were as many as 16 times the number of cybersecurity job advertisements as in 2012 – almost double the speed of expansion recorded for all new job postings in the same period, according to a report from Microsoft and OECD shows. 

The Microsoft/OECD study includes  Australia, Canada, New Zealand, the United Kingdom, and the United States.

The opportunity for women to work in cybersecurity is huge. Today, women make up only 25% of the global cybersecurity workforce so it’s more important than ever to encourage and empower women to pursue these careers, writes Microsoft corporate vice president, Kate Behncken, in a blog post announcing expansion of the company’s Cybersecurity Skills Initiative. 

The program covers 28 countries around the world, partnering with nonprofits and other educational institutions to train cybersecurity professionals.

“The past few years have seen cybercriminals target the media, businesses, and governments, and the volume is staggering”, she writes quoting the company’s Digital Defence Report showing the volume of password attacks has risen to an estimated 921 attacks every second – a 74% increase in just one year.”

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