Every business and government is now the potential target of a cyber-attack – and one well-targeted strike can cause havoc. Cybersecurity spending is reaching record levels as organisations of all types move swiftly to protect their data.

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In 2016, IBM chairman, president and CEO, Ginni Rometty, said:

“cybercrime is the greatest threat to every company in the world.”

It is easy to see why.

Every day, IBM estimates humans produce more than 2.5 quintillions worth of data. If that number is too difficult to imagine, think of it this way: more than 90% of the world’s digital information was created in the past few years alone.

It is no wonder that we are spending more money in protecting that data. In fact, research by International Data Corporation expects cybersecurity spending to reach US$105 billion by 2020 (up from US$74 billion in 2016).

Not only are businesses being breached for their private information, but recent attacks against governments and attempts to influence the U.S. presidential election have put cybersecurity in the spotlight as a key tactic for espionage.

 

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