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urity as vital to growthThree-quarters of CEOs are concerned about their organizations’ ability to avert or minimize damage to the business from a cyberattack—despite the fact that 96% of CEOs said that cybersecurity is critical to organizational growth and stability, according to a new report from Accenture .Accenture’s research points to the reactive way in which CEOs treat cybersecurity, which results in greater risk of attacks and higher costs to respond to and remediate them.
For instance, the report notes that a global shipping and logistics company breach resulted in a 20% drop in business volume, with losses hitting US$300 million. The report also suggests that generative AI holds the potential to introduce a greater level of advanced security threats introducing new challenges that even best-practice cyber defenses may not fully address. Nearly two-thirds of CEOs surveyed said that cybercriminals could use generative AI to create sophisticated and hard-to-detect cyberattacks, such as phishing scams, social engineering attacks and automated hacks.
On the flip side are “cyber laggards”—accounting for nearly half of the CEOs—who don’t consistently or rigorously take any of the actions that cyber-resilient CEOs do and are typically stuck in a reactionary mode.
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