Intelligent CIO Middle East Issue 32 | Page 95

/////////////////////////////////////////////////// t cht lk BRIDGING THE CYBER INDUSTRY’S RECRUITMENT GAP TO ENSURE READINESS With cyberattacks resulting in huge financial losses, there is an increasing need for skilled cybersecurity professionals at global enterprises. John McCumber, Director of Cybersecurity Advocacy, (ISC) 2 , talks to Intelligent CIO about why businesses must develop robust security capabilities to stay ahead of the curve as the world moves further into the ‘golden age of threat’. C ybersecurity can no longer be an afterthought. Mass cyberattacks resulted in the loss of nearly US$172 billion (about AED632 billion) globally in the last year alone, as per the 2017 Norton Cybersecurity Insights Report, urging companies to re-assess their approach to organisational security. Staffing niche security positions is vital as it allows companies to reduce the possibility of targeted cyberattacks by staying ahead of the curve. Moreover, in the race to keep up with rapid developments in tech, companies are increasing their investment in futuristic technologies to enhance efficiencies – for instance, analysts from market research firm Technavio estimate that the global artificial intelligence-based cybersecurity market will grow at a compound annual growth rate (CAGR) of more than 29% in the period between 2018 and 2022. As of now, it is difficult to quantify the cyber- risks involved as enterprises move forward on new technical capabilities. While businesses certainly cannot afford to ignore the benefits of automation, they must acknowledge that a qualified workforce is indispensable “ STAFFING NICHE SECURITY POSITIONS IS VITAL AS IT ALLOWS COMPANIES TO REDUCE THE POSSIBILITY OF TARGETED CYBERATTACKS BY STAYING AHEAD OF THE CURVE. INTELLIGENTCIO 95