Businesses must embrace digitalization should they want to remain competitive, agile and efficient. However, as they strengthen their digital dependency, they also become increasingly vulnerable to cyber threats. Data fraud or theft and cyber attacks feature as two of the top five global risks in terms of likelihood this year in The Global Risks Report 2019 published by the World Economic Forum in partnership with Zurich Insurance.
Therefore, decision makers face a balancing act of urgently optimizing digitalization, implementing robust security measures, and managing the cost implications for both. Holistic risk management requires us to consider all risks and to be mindful that in mitigating one risk we may exacerbate another. Discover the interconnected decision making process when developing a digital adoption strategy.
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