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2023 will be the year of cyber risk quantification • londonbusinessblog.com

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CRQ is the hottest thing in cybersecurity right now

Geopolitical tensions, supply supply chain challenges, an economic slowdown, an ongoing pandemic and more have left businesses and people affected in ways that will change the way business will be done in the coming years, and the ripple effects of these converging variables will be felt for a long time to come. to be. long time.

As the headlines continue to be dominated by rising interest rates, companies need to ensure that their budget is spent efficiently. But despite the economic downturn, the cybersecurity and AI industries have grown steadily over the past 18 months.

Cybersecurity is critical to business revenue, growth, reputation and overall function. But are we doing everything we can to manage the level of risk in our hyper-connected world, or is there a missing link?

Cybersecurity is getting more important every year

A Nasdaq Report suggests that 14 market days after a breach is made public, a company’s average stock price bottoms out and underperforms the stock market by -3.5%. An even more troubling data point is that businesses incur more than 50% of post-breach damages if long tail cost.

More specifically, 31% of the costs are booked in the second year and 24% more than two years after the breach in highly regulated sectors. Still, 29% of CEOs and CISOs and 40% of Chief Security Officers admit their organizations are unprepared for the rapidly changing threat landscape.

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