WEF 2024: Akshay Joshi warns of growing cyber inequity

TLDR: Cyber inequity is growing rapidly, with the number of organizations able to build resilient cyber infrastructure down by 30%, according to Akshay Joshi, Head of Industry and Partnerships at the World Economic Forum (WEF). Joshi emphasized the need for urgent attention to cyber inequity, as 90% of CEOs surveyed by WEF expressed concern. Operational disruptions due to cyber attacks are a major concern worldwide, and companies need to prioritize cyber resilience during the design phase rather than treating it as an afterthought. Joshi also highlighted the low investment in cybersecurity, which tends to be less than 5% of IT budgets in companies. He emphasized the need for public-private partnerships and the use of artificial intelligence to combat cyber threats. Joshi specifically mentioned the positive impact of AI in identifying deep fakes and misinformation, as well as in software code development and threat detection. In India, misinformation and disinformation rank high in the Global Risks Report, but Joshi sees an opportunity for the country to develop a consultative cybersecurity policy with input from the industry.