Business & Technology
Note: Read more about Fortinet's leadership with WEF's Centre for Cybersecurity.
Organizations worldwide are struggling to keep up with cybercrime. Even though Gartner predicts worldwide spending on Information Security will reach $124 billion this year, security researchers estimate that the cost of cybercrime will outpace that spend by over 16X, reaching $2.1 trillion by the end of 2019.
Of course, part of the challenge is that many cybersecurity tools and strategies are not up to the task of protecting today’s evolving networks. Many security developer and manufacturers need to reassess their strategies to include creating solutions that can span different environments and be integrated together into a unified security fabric.
The larger problem, however, is that there are simply not enough skilled humans available to properly plan, manage, integrate, and optimize security devices, strategies, and protocols.
“According to a recent workforce development survey, 59% of organizations have unfilled cybersecurity positions, with Frost & Sullivan forecasting a shortfall of 1.5 million by 2020. There are two reasons for this. The first is that the expansion of the digital marketplace has generated more jobs than the current supply of security professionals can meet. The second is a problem of scale, there is currently not an efficient way to create skilled security practitioners at the same rate.” World Economic Forum Agenda blog
This growing security challenge is reaching a critical point. Failure to address it now has the potential to disrupt the emerging global digital economy. Governments, organizations, and educational institutions need to work together to address this challenge. This as one of the most urgent tasks facing the newly formed WEF Centre for Cybersecurity.
Here are five critical approaches according to Fortinet’s Founder and CEO Ken Xie, which we can start moving on today:
When any infrastructure or economic system is brought down, everyone suffers. But as businesses and governments, including critical infrastructures, become increasingly interconnected, a major security event could have catastrophic consequences.
“Institutions like the World Economic Forum play a crucial role in bringing people, organizations, and governments together to solve problems with global implications, and the collective effort to mount a global response to the global threat of cybercrime must be even bigger. We need to start now to create a consensus and movement that includes committing intellectual and financial resources towards solving the growing problem of the cybersecurity skills gap. We cannot afford to wait.” World Economic Forum Agenda blog
For more details on this topic, refer to the entire article, “Here's how we can tackle the growing cybersecurity skills gap,” posted to the World Economic Forum’s Agenda.
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