A recent PwC poll highlights cybersecurity threats as a rising concern among CEOs. Apart from cyber threats, other concerns that register to a significant extent on CEOs’ radar are trade conflicts and policy uncertainty. Most CEOs anticipate legislation on online content, the breakup of big tech companies like Facebook, Google, Amazon and Apple, and compensation for personal data.
Meanwhile, Two-thirds of North American CEOs believe government legislation will divide the internet.
CEOs giving up on social media accounts
During our recent interaction with Sophos India’s Sunil Sharma, we learned that not a lot of organizations these days talk about Transport Layer Security. In short, organizations don’t realize the importance of having a robust cybersecurity infrastructure or allocating enough budget to ensure a good cyber-hygiene.
“Companies first need to understand what exactly they need and how they can become better at securing themselves.”
The PwC poll also shows the significance of organizations interested in global cybersecurity and internet governance and recommends they must stick together in order to prevent attacks on digital technology.
33 percent of CEOs consider cyber threats as among the top 15 threats this year, up from 30 percent last year.
John L. Hennessy, Chairman of Alphabet Inc., says:
“The tech industry has grown in scale and influence probably far beyond what it ever anticipated. Remember, our roots were building products for business people and other techies. And now we build products that everybody uses and that affect their lives every single day.”
“That comes with a whole new set of responsibilities. And I think whether it’s privacy, cybersecurity, dealing with hate speech and walled gardens, or whatever, we’re not yet where we need to be.”
CEOs giving up their social media accounts over privacy and cybersecurity concerns is a highly common practice these days. Security researchers have found a connection between social media usage of business leaders and a growing risk of their organization’s exposure to cybercriminals.
Many CEOs these days prefer to keep their personal and professional activities as much hidden from the outside world as possible.