Information Technology Foresight

The latest thinking on creating competitive advantage through information technology.

December 2017

Strengthening digital society against cyber shocks

The relentless effort on the part of hackers to break into corporate networks shows no sign of letting up, and no organization is immune to the potential loss of sensitive data or the reputational risk. What countermeasures has your company taken?

44% — of executives say their company does not have an overall information security strategy.

We recently collaborated on a major survey of upwards of 10,000 IT and security professionals, asking them about how their companies are managing the cybersecurity threat. This month’s feature article in IT Foresight, called "Strengthening digital society against cyber shocks: Key findings from The Global State of Information Security® Survey 2018," offers our initial analysis of the results. They’re not pretty. To quote Sean Joyce, leader of PwC’s U.S. cybersecurity and privacy practice, "Many organizations need to evaluate their digital risk and focus on building resilience for the inevitable."

Featured Foresights

Strengthening Digital Society Against Cyber Shocks
PwC article
Just how effectively are companies, and society at large, managing the ongoing risks of cyberattacks? The answer varies widely, from company to company and from country to country, according to the results of our global study of information security. Every organization is working hard to counter the threat, of course, and this article offers five actionable steps companies can take to boost those efforts. Our greater goal, however, is to foster further conversations among business leaders on a realistic assessment of threats, and how best to build resilience when cyber shocks do occur.
Consumer Intelligence Series
PwC article
Judging from the results of our recent survey on consumer attitudes toward data security and privacy practices, companies are doing a poor job of managing their customers’ data. Trust in companies’ ability to keep personal data safe is fading, and just 10 percent of consumers feel they have control over their own data. Still, as this article explains, companies can win back that trust by being responsive to their customers’ concerns, institute robust data governance and privacy protection policies, and communicate those policies clearly and transparently.
Will Stronger Borders Weaken Innovation? The 2017 Global Innovation Study
Strategy& viewpoint
Global spending on innovation continues to rise, and the proportion of corporate revenues devoted to R&D has never been higher. But are these increases sustainable in the face of growing protectionist sentiment and the rise of economic nationalism? Already, companies are feeling the effects of tighter borders, especially in slowdowns in the movement of talent around the world. The greater risk, however, is the sheer increase in uncertainty regarding the future of global R&D. Can companies afford to take a wait-and-see approach to the actual long-term effects of economic nationalism?

Information Technology Foresight archive

October, 2018
What do you call companies that have successfully implemented Industry 4.0 technologies, developed the requisite ecosystems and nurtured a digital culture? We call them Digital Champions.
September, 2018
The great virtue of blockchain is the essentially trustworthy nature of the technology, and the vast majority of companies are actively looking into its use.