World Economic Forum Says Cyber-ChallengesThe Biggest Threats of the Coming Decade

For your free ISO 27001 - Information Security Management System - Gap Analysis Checklist, click here.


The latest report from the World Economic Forum - WEF - has stated that digital fragmentation and cyber-threats targetting commercial and non-profit organisations, critical infrastructure and even government institutions are among the most pressing dangers lurking in the landscape over the coming decade.


The WEF’s Global Risk Report takes responses from academics, politicians and business leaders across the globe, and the latest publication had two central themes: environmental concerns and cyber-related threats that pose an existential danger for organisations.

“In total, 76% of respondents claimed that cyber-attacks disruption operations and infrastructure would increase in 2020, while a similar number (75%) said the same about online data and financial theft,” InfoSecurity Magazine is reporting.


Cyber attacks were in the World Economic Forum’s top-ten list in terms of likelihood and impact over the next decade, with data theft and cases of fraud making it into the top ten respective of likelihood. Cyber attacks on critical infrastructure also made the list in terms of potential impact, with those asked to take part in the WEF’s research citing that the potential damage - in the face of a fragmented online world, compounded by geopolitical rivalries - could prove catastrophic.


“Because government and corporate leaders equally share the responsibility for promoting global cybersecurity and digital trust, cooperation between the public and private sector is more vital than ever.” World Economic Forum.


The report stated that “businesses are facing the challenge of implementing existing cybersecurity and 4IR standards (where they exist), while ensuring compliance with fragmented regulations on accountability, transparency, bias and privacy for developing - or simply applying - 4IR technologies,” 4IR referring to fourth-industrial revolution technologies which are set to drive the global economy in the near future.


“Because government and corporate leaders equally share the responsibility for promoting global cybersecurity and digital trust, cooperation between the public and private sector is more vital than ever in areas such as information-sharing, collaboration with law enforcement agencies, and skill and capacity development,” the report continued to explain.



“It’s not just about stopping bad actors from damaging these mission-critical services, as experienced in cities across the world, it’s also about preventing them from getting a foothold in our environments to cause harm, be it physical, data theft or financial gain,” - Renaud Deraison



“The WEF report pointed to fourth industrial revolution (4IR) technologies bringing tremendous gains to society and the global economy, but also unintended cyber-risk, as the attack surface grows exponentially,” InfoSecurity writes. “Quantum computing, 5G, cloud computing, [artifical intelligence] and [the internet-of-things] were all highlighted as areas of concern, as was the lack of an effective and unified global cyber-governance framework.”


Renaud Derasion, chief technical officer at Tenable told InfoSecurity that “as the world seeks continued growth and competitiveness in the global economy, we’re seeing many new projects take off, including building modern factories that are highly automated. This innovation can’t happen without a good grasp of the security and integrity of the digital components those factories rely on,” he said.


“It’s not just about stopping bad actors from damaging these mission-critical services, as experienced in cities across the world, it’s also about preventing them from getting a foothold in our environments to cause harm, be it physical, data theft or financial gain,” Renaud Deraison added.

© 2019 by Best Practice

  • White YouTube Icon
  • White LinkedIn Icon
  • White Instagram Icon
  • White Facebook Icon
  • White Twitter Icon