WEF Future Series: Cybersecurity, Emerging Technology and Systemic Risk

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(CC) Sascha Kohlmann/FlickrThe World Economic Forum, in collaboration with the University of Oxford, has just published the report: “Cybersecurity, Emerging Technology and Systemic Risk.”

Unless action is taken now, by 2025 next generation technology, on which the world will increasingly rely, has the potential to overwhelm the defences of the global security community. Enhanced cybersecurity is the only means by which this challenge can be addressed, but the approach to cybersecurity needs to be overhauled before the industry finds itself in any fit state to tackle the threat.

This new Future Series report highlights the growing threat from hidden and systemic risks inherent in the emerging technology environment, which will require significant change to the international and security communities’ response to cybersecurity.

In under a decade, cybersecurity has emerged as one of the most important systemic issues for the global economy. Collective global spending has now reached $145 billion a year, and is predicted to have exceeded $1 trillion in the period between 2017 and 2021. Incidents and attacks continue to rise, but this is only the tip of a new and growing problem.

The report is available from the World Economic Forum website.