CIO OPINION tomorrow , cyber resiliency is a key building block and enabler .
The adverse financial impacts involved with cybercrime are seismic , and unsustainable for economies to absorb long-term . It ’ s no secret that advanced technologies such as Artificial Intelligence ( AI ), Machine Learning ( ML ) and IoT are the key building blocks for future progress , but perhaps ironically , it ’ s these same technologies that can present new opportunities for cyber criminals . The ultimate challenge will be securing such technologies and enabling more resilient , long-term solutions to the threats posed by cyber criminals . Economic rebalancing will only be equitable if these tools are accessible to all organisations and businesses . To make this vision a reality , the need for collaboration and support between the public and private sectors has never been more vital .
SME cyber support vital for wider economy
Small and Medium-sized Enterprises ( SMEs ) are the backbone of local economies and yet are highly at risk . SMEs are seen as a key facet to trade and logistics , partner networks , and digital ecosystems , however , increasingly find themselves the target of cyberattacks . Research shows that 43 % of cyberattacks are made against small businesses , up from 18 % just a few years ago . Significantly , recent WEF reports indicate that 88 % of respondents are concerned about the cyber resilience of SMEs in their ecosystem .
It is essential that we work to support and protect such businesses , particularly as we look to build more resilient , balanced societies . SMEs , unlike other businesses , often require and are entitled to greater government support and nurture . Governments that recognise SMEs as integral to a truly flourishing society will empower and deliver the most economic progress . Helping these smaller organisations protect themselves against the ever-growing cybersecurity threat must be a priority for public sector recovery strategists , in the months and years ahead .
In order to deliver on globally ambitious designs of digital inclusion , sustainability , improved health outcomes , defence , and much more for the economies of tomorrow , cyber resiliency is a key building block and enabler .
www . intelligentcio . com INTELLIGENTCIO MIDDLE EAST 45