he emergence of Generative AI

( GenAI ) is reshaping the 2024 telecoms risk radar . According to SecurityScorecard ’ s recent research , Security ratings : A new horizon , 78 % of the top telecom companies in the US , UK , France and Germany experienced a third-party data breach in the past 12 months alone .

Organisations in the technology , media and telecommunications ( TMT ) sector are at the forefront of modern connectivity , linking people and businesses across the globe . Despite how advantageous recent technology developments have been to propel the industry further , malevolent actors stand ready to exploit and capitalise on vulnerabilities .

Additional studies indicate that cyberresilience is under pressure , throwing data governance strategies into question with the dramatic expansion of GenAI . EY ’ s Top 10 risks in telecommunications report discovered 68 % of telco respondents believe they are not doing enough to manage the unintended consequences of AI , and 74 % say they need to do more to mitigate against bad actors who could use AI to support cyberattacks and other malicious activities .

In the same body of research , 53 % of telcos believe the cost to their organisation of cyber breaches will exceed US $ 3m in 2023 , up from 40 % in 2022 .

The National Cyber Security Centre ’ s recent assessment highlighted that AI will almost certainly increase the volume and heighten the impact of cyberattacks over the next two years , and the threat to 2025 comes from evolution and enhancement of existing tactics , techniques and procedures .

These threats further incorporate a growing sense of unease within the sector due to insufficient talent and skills management . EY ’ s findings underline that digital talent is increasingly in demand , but a shortage of network engineers presents a more immediate challenge to the industry . It continues to uncover more risks to the talent pipeline spurred on by financial pressures . More than half ( 55 %) of telecoms employers have introduced hiring freezes – almost double that recorded across all sectors ( 28 %), and 61 % of telcos say talent retention is being hampered by salary and benefits cuts as part of a cost-reduction drive – well above the sector average ( 44 %).

The progression of efficiency , speed and connectivity from enhanced AI can easily be unpicked without enough defenders to protect the landscape . While there are whispers weaving throughout all industries about AI replacing people , the synergy between technology and humans seems stronger than ever . Building a cyber-resilient strategy may seem like an enveloping fog , but a visible , empowering and proactive approach will likely tackle the risks ahead .

We speak to experts in the TMT sector – Ben Matthews , Partner , Altman Solon ; Christos Kalantzis , Chief Technology Officer , SecurityScorecard ; and Steve Cobb , Chief Information Security Officer , SecurityScorecard – to gain insight into what measures should be taken to build confidence in the industry .

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