Monday 23 November 2020

Executives to invest more in cyber security capabilities in 2021

 As the rapid digitalisation of work brought on by Covid-19 opens doors to cyber-criminals across the world, more than half of all companies are planning to increase cyber security spending in 2021. However, according to a new study, more than one-fifth of British organisations are planning to downsize their cyber team in the coming 12 months.

The lockdown brought in to fight the what do computer engineers do pandemic saw companies become more reliant on decentralised digital operation systems than ever before – something many of them were not prepared for in terms of becoming exposed to cyber-attacks. A recent study found that 65% of organisations in the UK alone have either been breached or exposed to an attack. Meanwhile, only 42% said they were “well prepared” for moving to remote working, compared to 45% who were “somewhat prepared” and 13% who were not prepared at all – leaving more than half of all firms at least moderately under threat.

The sudden shift towards home working in the lockdown has emphasised cyber security’s importance for both individual organisations and wider society, then. Amid the increasing sophistication of cyber criminals, and the rapid shift to digital technologies brought about by the coronavirus, PwC has launched its latest insights into what’s changing and what’s next in cyber security.

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