Cyber risk regulations like NIS2 and DORA in the EU, or PS21/3 in the UK, signal a seismic shift toward strengthening cyber resilience and enforcing accountability. Championing regulations is not just a matter of checking compliance boxes: it’s an opportunity to become a business leader. To enable growth and protect revenue.

Application programming interface (API) security is critical for retailers increasingly reliant on cloud technology. However, they also open potential gateways for cyber threats, making robust security protocols essential to protect sensitive data and maintain customer trust. The complexity of retail systems, which often involve numerous third-party integrations, can create multiple points of vulnerability.

The skill gap is still a thing. Even though big players are making news headlines with ongoing global-scale layoffs – according to the 2023’ Upskilling IT Report almost 1/3 of IT organizations describe the lack of skilled resources as the biggest challenge for the IT leaders. In many cases, the post-pandemic layoffs are the result of excessive hiring during the covid-time.

The amount of data generated and fed into AI systems has increased quickly over the last few years. Attackers are taking advantage of the massive increase in data volume to contaminate the data input in training datasets, resulting in incorrect or malicious results. In fact, at a recent Shanghai conference, Nicholas Carlini, research scientist at Google Brain, stated that data poisoning can be accomplished efficiently by modifying only 0.1% of the dataset.

In the constantly evolving world of digital technology, cybersecurity risk management is a critical pillar in any organization. By effectively managing cybersecurity risk, you reduce incidents and the costs resulting from data breaches. However, cybersecurity risk management involves many different elements. It’s helpful to have an understanding of these aspects in order to leverage cybersecurity risk management to its fullest potential.