FINAL WORD
As a result , smaller organisations are more than twice as likely to lack the cyber resilience to meet the minimum critical operational requirements to ensure business continuity , compared to the highest-revenue organisations . One example of this is cyber insurance ; only 25 % of small organisations carry cyber insurance , leaving SMBs with fewer options to reduce their risk and bounce back from attacks .
Adopting technologies
Rapid adoption of new technologies can often outpace regulators , grappling with the task of preparing guidelines for safe usage . For example , the EU AI Act to establish a common regulatory and legal framework for AI , was issued in March 2024 , well over a year after the launch of Chat-GPT and the rapid rise of generative AI , GenAI use cases , November 2022 .
GenAI is transforming the cybersecurity landscape with its ability to simplify processes for cyber defenders , while also offering a whole new playbook for threat actors . Approximately half of C-suite leaders agree that GenAI will have the most significant impact on cybersecurity in the next two years , with 56 % believing GenAI will give an advantage to cyber attackers over defenders .
Organisations must ensure that , in the rush to adopt GenAI , they do not leave themselves open to attack , or create
unintended vulnerabilities in defences . Thorough testing is necessary to fully understand the cybersecurity implications of onboarding new technologies .
Cyber awareness
There is a growing understanding of the importance of cyber resilience among senior leaders , with the Global Cybersecurity
Outlook report stating that , 74 % of CEOs are concerned about their organisation ’ s ability to avert or minimise damage to the business from a cyberattack .
Executive leadership is using cyber incidents , 29 % and reports and statistics , 24 % to educate and influence their decisions regarding cybersecurity . This suggests that a significant minority of organisational leaders are professionalising their approach to cybersecurity decision-making by bringing in sources that were previously reserved for security leaders or subject-matter experts .
This growing awareness has translated into a significant number of business leaders seeing themselves as either equally or more exposed to cybercrime compared to the previous year . The increased understanding and appreciation of the severity cyber threats is likely to lead to greater cybersecurity investment .
Channel partners
The cybersecurity challenges outlined by the WEF demonstrate a need for specialist support to foster resilience and facilitate continuity in the face of escalating cyber threats .
This provides a call to action and an opportunity for the channel .
• Managed services can play a role in helping organisations bridge the skills gap . Managed services that include expert consultancy are also a costeffective way to eliminate cyber inequity .
• IT channel can offer continuous cyber-risk monitoring capabilities , as well as access to cybersecurity experts with deep knowledge of leading-edge technologies to help select the right solutions and maintain them , protecting business from costly breaches .
• Small and medium-sized companies will turn to the subscription consumption model to access cybersecurity tools that ensure resilience and protect from cyber threats , at an affordable price .
• Channel partners , in partnership with vendors , can help to drive careful and considered adoption on GenAI , ensuring safe and secure usage , with appropriate user training to maximise benefits without putting the organisation at risk .
The ever-changing cybersecurity landscape will keep evolving and delivering challenges . But with the right approach , the IT channel can perform the role of a trusted advisor to help address business requirements with specialist advice and flexible solutions for companies of all sizes . •
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