61 percent CEOs believe cyberthreats are a danger to corporate growth

According to a recent study conducted by PricewaterhouseCoopers (PwC), cyberthreats are the eighth most feared impediment to business growth. However, geopolitical uncertainty, especially in unstable regions of conflict where cyberattacks and cyberespionage are a growing threat, was the second largest concern (74%), behind only over-regulation.

Among industries, the insurance sector expressed the most apprehension over cyberthreats hindering business growth, with 79% citing the problem as a legitimate concern. The energy sector was the industry most concerned with geopolitical uncertainty (89%). While 60% of CEOs said they see more growth opportunities today compared to three years ago, 66% said they see more threats than previously.

Considering the above concerns, its no surprise that 55% of survey-takers acknowledged they are concerned about a lack of consumer trust in their businesses today, compared to 37% three years ago. CEOs are therefore turning to technology to keep customers and other key corporate stakeholders engaged, satisfied and loyal, the report continues.

However, only 30% of CEOs believe that personal data security solutions are among the key technologies that generate robust stakeholder engagement. Data mining and analytics solutions were tops on this list (68%), while security solutions ranked seventh overall.

Data protection safeguards ranked dead last in terms of CEOs top three priorities for todays businesses and governments (among nine available response choices). Only 8% of respondents included data security among these top three priorities. A skilled, educated and adaptable workforce was the priority cited most frequently, at 76%. Adequate infrastructure and high employment levels were ranked second and third, respectively.

72% of respondents said they think the world is moving more towards a free, openly accessible Internet, while 25% believe internet access will only become more fragmented.