As technology and artificial intelligence continue to take the world by storm, the biggest dangers facing Indian organizations right now, according to a recent poll, are cyberattacks and threats.
According to PwC’s 2023 Global Risk Survey—India edition—38% of survey participants believed their firm was highly vulnerable to cyberattacks. According to the statistics, cybersecurity has risen from number three to number one on the risk radar, a two-spot jump from the 2022 Global Risk Survey.
According to PwC, 3,910 business and risk management leaders (CEO, board, risk management, operations, technology, finance, and audit) from 67 territories provided their opinions on the state and future of risk in their organizations, which formed the basis of the survey’s final results. Participating in this poll were 163 Indian organizations.
Many Indian organizations have made significant financial investments in cybersecurity technologies like AI and machine learning in an attempt to lower these risks.
According to the survey results, in the next one to three years, more than half of the participants intend to invest in cybersecurity solutions (55%) and AI, machine learning, and automation technologies (55%).
In an additional attempt to lessen the potential of cyberattacks, 61 percent of international businesses and 71 percent of Indian businesses are collecting and analyzing cybersecurity and IT data for risk management and opportunity identification.
Cyberattacks against both public and private entities
The most recent cyberattack in India targeted Madhya Pradesh’s e-Nagarpalika system, compromising the personal information of 413 cities’ residents. The cyberattack exposed the inadequate security and highly sensitive data on lesser government portals.
First American, a significant cyberattack that occurred recently, led the US real estate behemoth to take part of its operations offline.
