With the financial toll of cybersecurity incidents expected to reach $10.5 trillion by 2025, according to Cybersecurity Ventures, the need for robust cyber resilience has never been more urgent.
Cyber resilience can be best achieved by addressing gaps in emerging and niche technologies, such as machine learning security and operational technology security, which are often underinvested in and diversifying technology stacks to eliminate single points of failure, posits a trio of thought leaders in a recent World Economic Forum (WEF) story.
Despite the flourishing venture funding for cybersecurity startups, which saw $4.4 billion invested in just the second quarter of 2024 alone, the distribution of this capital has been uneven. Investments have primarily followed major trends such as cloud security, identity management, network security, zero trust, developer security tools and even quantum-safe solutions.
Meanwhile, critical areas such as operational technology security, subject matter expert-focused solutions, behavioural analytics, machine learning security and cybersecurity training remain underfunded.
Underfunded areas of cybersecurity have cascading impacts on society and the economy, according to Sameer Kenkare, Head, Corporate Venture Capital and Innovation, Startup Business Development, Amazon Web Services, Filipe Beato Lead, Centre for Cybersecurity, World Economic Forum, and Anna Sarnek North America Startups and Venture Capital Cyber Lead, Amazon Web Services, co-authors of the WEF Story.
Read the Full Story