Dive Brief:
- As the U.S. presidential election nears, 3 in 4 C-suite executives consider cybersecurity a moderate or serious risk, making it the biggest overall concern among potential business risks, according to a PwC report published last week.
- About one-third of executives consider technology, AI and data regulation the top three policy risks, no matter which major candidate wins the presidential election.The report is based on a survey of 709 U.S. executives conducted between Sept. 12-19.
- Beyond cyber, business leaders are concerned about geopolitical tensions and how pressure on profit margins may impact earnings, according to PwC.
Dive Insight:
The risk concerns echo previous studies showing cybersecurity as one of the top concerns of senior business leaders.
Cyber risk has become a growing problem in recent years, as attacks disrupt supply chains, lead to customer and investor litigation and cause reputational damage.
U.S. businesses have accumulated technical debt over the years, and still rely on outdated technologies and business tools that are not secure.
Organizations need to “continue investing in cybersecurity to confirm that their solutions keep pace with evolving threats,” Matt Gorham, leader of PwC’s Cyber & Privacy Innovation Institute, said via email. “For example, while GenAI is spurring new types of phishing attacks, it is also being integrated into cybersecurity solutions by leading vendors.”
