Cybersecurity poses the top risk to growth, according to Nordic CEOs, followed by emerging and disruptive technology risk, while their global counterparts see environmental issues and climate change as the top risk. Nordic CEOs are also more likely to agree that becoming a victim of a cyberattack is a case of ‘when’ and not ‘if’ for their organisation (65 percent vs. 53 percent). Part of the reason for this is the high level of digitalisation in Nordic countries. The region boasts some of the highest internet penetration rates across the board, reaching 97 percent.
Which of the following risk pose the greatest threat to your organization's growth?
Source: 2019 Global CEO Outlook, KPMG International.
Seventy-two percent of Nordic CEOs view information security as a strategic function and as a potential source of competitive advantage. Sixty percent of Nordic CEOs also say that a strong cyber strategy is critical to engender trust with key stakeholders.
Even though CEOs in the Nordic countries realise the risk of cyberattacks, the actual actions taken for protecting the companies have been quite modest and companies often focus on improving single elements. Investments in cyber security and reactions to different attacks have not been on a sufficient level. This applies to both private companies and governments.