expert
OPINION
MICHAEL ARMER , CISO , RINGCENTRAL
Michael Armer , CISO , RingCentral , assesses how accurate his 2024 technology predictions have been now we are deep into the second half of the year .
The midyear reckoning of cybersecurity predictions
redictions are a fool ’ s game . Six
P months ago , I laid out my vision for 2024 . Although I knew it ’ d be a pivotal year for cybersecurity , even I vastly underestimated the pace of change .
Context is king here . It ’ s reasonable to say that 2023 was the year of unprecedented cyberthreats . Around the world the total number of publicly disclosed security incidents surpassed 2,800 , with over 8.2 billion records breached . Almost one third ( 32 %) of UK businesses identified cybersecurity breaches or attacks which came at a heavy price ; the average cost of a cyberattack on UK SMEs rose from £ 11,000 to £ 15,300 , hitting already taut purse strings hard . This doesn ’ t include the lost revenue from 26 hours of unplanned downtime , either .
But if last year was defined by attacks , 2024 has so far been defined by resilience . Refreshingly , this is from the top down too . The Kings Speech in Parliament outlined the Cyber Security and Resilience Bill ’ s pledge to ‘ strengthen [ the country ’ s ] defences and ensure that more essential digital services than ever before are protected .’ In tandem , the UK ’ s offensive cyber-agency , the National Cyber
Force , is expected to swell to over 3,000 personnel by 2030 , with significant expansion planned for this year alone . This governmental push is setting a precedent that businesses are swiftly following , recognising that resilience isn ’ t just about survival , but about competitive advantage in an increasingly digital marketplace .
As we stand at this midpoint of 2024 , it ’ s clear that the cybersecurity landscape is evolving , fast . My predictions , while directionally correct , have been outpaced by reality in ways both exhilarating and sobering . So how did they materialise in the first half of this tumultuous year ?
Corporate boards would prioritise cyberexperience ( verdict : correct )
First , I believed that corporate boards would put cyberexperience under the microscope . This prediction has not only come to fruition , but far exceeded expectations . Today , a striking 30 % of businesses have board members explicitly responsible for cybersecurity as part of their job role . This isn ’ t just a tick-box exercise ; it ’ s a fundamental shift in how businesses perceive and manage risk .
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