Cost Of Ineffective And Uncoordinated Action On Cyber-risks Continues To Rise.

[Mindful]

Governments and businesses must act urgently to build cyber resilience as cyber-risks and the cost of inaction continue to rise.

In 2015, Zurich Insurance Group and the Atlantic Council warned that the annual costs of cyber disruptions was beginning to outweigh the benefits of doing business in a connected world and that a failure to act could have a USD 120 trillion impact on global GDP by 2030.

That prediction is already beginning to look conservative, as the cost of cyber-attacks rises and the risks multiply.


Cost Of Ineffective And Uncoordinated Action On Cyber-risks Continues To Rise

 

[Mindful]

** In a new section on potential Future Shocks, the GRR also warns that the proliferation of “AI weeds”, algorithms driven by artificial intelligence, could “choke off the Internet”. It is estimated that up to 15 percent of twitter accounts, or about 48 million users, are bots.[5] Separately, a study by website security provider Imperva Incapsula found that 51.8 percent of all website traffic in 2016 was generated by bots, with nearly a quarter of all traffic coming from so-called “impersonator bots”, that mimic user identities to bypass security measures.[6] These are frequently used in DDOS attacks.**