In our digital era, cybersecurity stands as the frontline defense for protecting sensitive information and digital infrastructures. However, the impending crisis of a severe shortage in skilled cybersecurity professionals looms large.
Cybersecurity Ventures predicts a global shortage of over 3.5 million professionals by 2025, a startling 350% increase in just eight years. Critical areas like threat intelligence, cloud security incident response, and application security are particularly affected.
To delve deeper into these challenges, Outlook Business and Sophos recently co-hosted a webinar titled ‘Bridging the Cybersecurity Skillset Gap – Complementarities of Talent and Technology,’ moderated by Vinita Bhatia, editor-startups for Outlook Business.
KPMG partner Vibhav Pachori highlighted the dramatic evolution of the field, accentuated by the rapid digitisation prompted by COVID-19. “Cybercrime,” he quipped, “has become a booming business, ranking as the third-largest GDP globally, trailing only the US and China. The rise of crime as a service exemplifies the ease with which individuals can access hacker-for-hire services.”
Vibhav further stressed a fundamental shift in how companies perceive the value of their digital assets, drawing a parallel with a refrigerator’s perceived value when given away for free versus when priced at $50. The rise of cybercrime as a booming business, ranking as the third-largest GDP globally, underlines the ease with which individuals can access hacker-for-hire services.
This story is from the January 2024 edition of Outlook Business.
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This story is from the January 2024 edition of Outlook Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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