Cyberattacks are viewed by business leaders as the number one risk in advanced economies for the second year in a row, according to the latest World Economic Forum executive opinion survey. This widespread and continuing apprehension about cybersecurity is reinforced by the results of the Marsh | Microsoft 2019 Global Cyber Risk Perception Survey, which found almost 80% of executive respondents ranking cyber risk among their top five concerns.
Cybersecurity is a top priority in the business community for a number of reasons. First, businesses are increasingly dependent on technology platforms to manage their core operations. This dependence heightens both the likelihood and severity of business interruptions stemming from cyberattacks. Second, digital innovation is now a top-line growth engine for many enterprises. However, the pace and nature of this innovation is introducing new types of technology risk that management practices and regulations have not yet fully addressed. Last but not least, many firms are operating in complex supply chains that expose them to the weaknesses in other companies who may not have the same focus on cyber risk management. This interdependency heightens the challenge of maintaining cyber resilience for all firms in the supply chain. Given these factors, business leaders increasingly recognize that cyber is a risk can be understood, measured and managed -- but not completely eliminated.
Looking forward to 2020, we expect the cyber landscape to be more complex than ever before. The MMC Cyber Handbook 2020 features perspectives from business leaders across Marsh & McLennan, as well as strategic partners who represent some of the best thinking about the cyber economy.
This handbook brings together the latest perspectives on how to take action in the face of growing complexity and uncertainty, and dive into some of the most significant cyber trends, industry-specific implications, and emerging regulatory challenges.