Only 3% of global organisations are cybersecurity ready, report reveals
A new report from tech conglomerate Cisco reveals that only a small fraction of global organisations are adequately prepared to tackle cybersecurity threats.
According to Cisco's Cybersecurity Readiness Index, just 3% of the 8,000 businesses surveyed across 30 global markets fall into the “mature" category, indicating they are fully ready to address modern cybersecurity challenges.
The findings are supported by the 2023 Cybersecurity Workforce Report from the International Information System Security Certification Consortium (ISC2), which highlights significant obstacles in the cybersecurity sector which include economic uncertainty, technological advancements (or lack thereof), regulatory fragmentation, and a widening skills gap.
The report notes that the global cybersecurity workforce has grown to 5.5 million in 2023, a 9% increase from the previous year and the highest recorded to date. However, the World Economic Forum's Strategic Cybersecurity Talent Framework projects a global talent shortage of 85 million workers by 2030, potentially resulting in $8.5 trillion in unrealized annual revenue. In the cybersecurity sector alone, nearly 4 million professionals are urgently needed to close the talent gap.
Cisco's Executive Vice President, Francine Katsoudas, emphasized the critical importance of cybersecurity for economic stability and growth. "Cybersecurity stands as a critical pillar for economic stability and growth, reaching across borders and touching every aspect of our global community. However, Cisco’s Cybersecurity Readiness Index reveals a sobering truth: that a mere 3% of global organizations are ready to address contemporary risks across the full spectrum of cybersecurity solutions. As a testament to that data point, last year there were nearly 3,000 publicly disclosed data breaches impacting businesses, citizens, public services, and more."
The Cisco report also emphasises the importance of investing in people and skills to enhance Africa's cybersecurity defences and artificial intelligence (AI) readiness.
