E R T N
P
X
E INIO
OP
Bridging
the cyber
industry’s
recruitment
gap to ensure
readiness
With cyberattacks resulting in huge financial losses, there
is an increasing need for skilled cybersecurity professionals
at global enterprises. John McCumber, Director of
Cybersecurity Advocacy, (ISC) 2 , talks to Intelligent CISO
about why businesses must develop robust security
capabilities to stay ahead of the curve as the world moves
further into the ‘golden age of threat’.
C
ybersecurity can
no longer be an
afterthought. Mass
cyberattacks
resulted in the
loss of nearly
US$172 billion
globally in the last year alone, as per
the 2017 Norton Cybersecurity Insights
Report, urging companies to re-assess
their approach to organisational security.
Staffing niche security positions is vital
as it allows companies to reduce the
possibility of targeted cyberattacks by
staying ahead of the curve.
Moreover, in the race to keep up with
rapid developments in tech, companies
are increasing their investment in
futuristic technologies to enhance
efficiencies; for instance, analysts
from market research firm Technavio
estimate that the global Artificial
www.intelligentciso.com
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Issue 04
John McCumber,
Director of Cybersecurity
Advocacy, (ISC) 2
Intelligence-based cybersecurity market
will grow at a compound annual growth
rate (CAGR) of more than 29% in the
period between 2018 and 2022. As
of now, it is difficult to quantify the
cyber-risks involved as enterprises
move forward on new technical
capabilities. While businesses certainly
cannot afford to ignore the benefits of
automation, they must acknowledge that
a qualified workforce is indispensable
for mitigating the threats posed by a
fully-digitised landscape.
To illustrate, a 2017 Accenture study
found that the price of cybercrime
in 2018 is 23% higher than last year,
costing organisations an average of
US$11.7 million annually. In addition,
Gartner predicts that by 2020, 60%
of digital businesses will suffer major
service failures due to the inability of IT
security teams to manage digital risk.
The need to build qualified
security teams Thus, in order to ensure operational
longevity, it is necessary for companies
to build qualified security teams, a task
which often proves to be a challenge,
due to the industry-wide gaps in skills
and recruitment.
A growing global population, increasing
Internet penetration and connected
technologies present a volatile threat
landscape in which the possibility,
scale and impact of cybercrime
increases manifold. What the industry is missing today is a
comprehensive, coherent understanding
of the various security roles.
Cybersecurity is a multidisciplinary
profession and involves a variety
of critical capabilities – from policy
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