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Accenture: In the next five years, improving network security will help global companies to lose 5.2 trillion US dollars
Jan 28, 2019

  Accenture's latest research shows that in the next five years, cyberattacks will bring 5.2 trillion US dollars in additional costs and revenue losses to enterprises worldwide. The main reason is that enterprises are too dependent on the Internet business model, and the protection of important assets cannot keep up with the requirements of business development. Only 30% of the global companies surveyed expressed confidence in network security . This proportion is 43 among the Chinese companies surveyed. %.   Accenture's "Enabling the Digital Economy: Reshaping the Internet Trust" report surveyed more than 1,700 CEOs and other executives around the world to explore the complex challenges of the Internet and outline the CEO's technology, business architecture and management The importance of new roles in other areas.   According to the study, 67% of Chinese companies surveyed said their business is increasingly dependent on the Internet, and network risks have also increased. Various cybercrimes will threaten business operations, innovation and growth, affect the promotion of new products and services, and ultimately cause trillions of dollars in losses. Globally, the high-tech industry faces the highest risks, with potential losses of $753 billion, followed by the life sciences and automotive industries, with potential losses of $642 billion and $505 billion, respectively.   Zhu Wei, chairman of Accenture Greater China, said: " The development and implementation speed of cybersecurity technology is far less than the severity of cybercrime, leading to a continuous decline in people's trust in the digital economy. CEOs must be able to break the rules and make decisive decisions. For enterprises to quickly recover from cybersecurity incidents, they must include cybersecurity from the very beginning and ensure that all business managers are responsible for information security and data privacy."   Studies have shown that most of the companies surveyed believe that unless cybersecurity can be significantly improved, the development of the digital economy will be severely hampered. However, emerging technologies are emerging to bring more challenges. More than 80% (82%) of Chinese respondents believe that companies are adopting emerging technologies far faster than solving related network security problems. Most (85%) domestic companies surveyed also said that today's Internet ecosystem is growing, and companies will be increasingly affected by third-party security flaws.   In addition, 85% of Chinese companies surveyed said that in the face of the challenges of cybersecurity, all parties need to work together and solve problems alone. As concerns about cybersecurity continue to intensify, corporate executives hope that regulators can implement more stringent business regulations.   Zhu Wei added: "No enterprise or organization can cope with the challenges brought by cyber threats alone. This is a topic that needs global attention and resolution, and collaboration is the key. In order to build a strong and trustworthy digital economy, enterprises Executives need to broaden their perspectives, break down barriers between companies, and work with ecosystem partners to protect the entire value chain, including partners, suppliers and consumers."   At the same time, corporate executives should also pay attention to consumer data protection. Most respondents believe that many personal data can now be obtained at will, and it is difficult for consumers to trust the security of their network identity.   Accenture recommends that corporate CEOs and other executives take the following three actions to improve cybersecurity.   1.     Collaborative Governance: Collaborate with other companies to conduct governance on a global scale. Strengthen cooperation with other corporate executives, government agencies, and regulatory agencies to better understand how to prevent new types of cyber attacks.   2.     Enhance the architecture: Connect and protect the parties based on the digital trust model. Create a solid network security infrastructure that fully protects the entire ecosystem, including partners and supply chains.   3.     Improve technology: Improve safety capabilities and promote enterprise development. Companies should use emerging technologies to be ready to address major challenges. For example, companies can embed software security and update capabilities into mobile devices and IoT devices from the ground up. 

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