Leveraging on the 2021 CEO Outlook Pulse Survey, new data presented by Atlas VPN indicates that nearly one-fifth (18%) of CEOs see cybersecurity risks as the number one threat to their organizations’ growth over the next three years.
This is especially as few events in the recent decades have impacted how people go about their daily lives or conduct business as much as Covid-19, which hit last year forcing many to shift to remote work or transfer their business online, bringing about a wave of challenges.
According to the data, CEO concerns that made it to the top five include tax risk (14%), regulatory risk (14%), supply chain risk (12%), operational risk (10%), environmental or climate change risk (10%), emerging or disruptive technology risk (6%), and interest rate risk (6%).
Meanwhile, talent risk, which occupied the first spot among concerns last year, dropped by a fifth (20%) to a mere 1% in 2021.
To mitigate these risks, companies plan to spend more on digital technologies this year, with 52% prioritizing data security measures.
“The emphasis on cybersecurity in companies is long overdue. While Covid-19 has brought about a myriad of challenges for individuals and organizations, it has also encouraged us to seek better practices. In the end, those who will be able to adapt to the new normal in the post-Covid world will come out of the situation more robust than before,” said Rachel Welch, COO of Atlas VPN.