Every few months, my colleagues and I at Genesis10 share a quick update on cybersecurity. New threats appear every day. Many we covered before are still here. They are dangerous. The cybersecurity talent shortage makes it harder for IT leaders to stop them.
According to a University of Tulsa blog, it can cost up to $13 million to find and fix one large data breach. Global spending on cybersecurity products and services is in the billions. The demand for cybersecurity professionals keeps rising, and the cost of data breaches keeps growing. By 2025, the worldwide shortage of data security and cybersecurity experts could cost more than $10 trillion a year.
Summary
Cybersecurity threats keep growing in size and complexity. They range from phishing and data breaches to nation-state cyber threats from China and Russia. At the same time, companies face a severe cybersecurity skills gap. That gap raises risk and cost. Strong defenses, good habits, cybersecurity upskilling, outsourcing, and partnerships can help.
Phishing and data breaches
Cybersecurity protects the digital interests of people, families, companies, cities, and nations. It covers phishing and identity theft, as well as large data breaches and cyber attacks.
China is a major threat to U.S. businesses, defense systems, and financial services, according to the Cybersecurity and Infrastructure Security Agency. China has built strong cyber power in recent years and has already carried out major attacks, including one against Microsoft Exchange in 2021.
Russia is also a major threat, especially since the war in Ukraine. In response to sanctions, the U.S. and its allies expect more state-backed cyberattacks from Russia.
Every cybersecurity team should use multi-layered cybersecurity. Attackers must pass through several layers before they reach sensitive data. Teams should use antivirus software, firewalls, encryption, and penetration testing. People and good processes matter too.
Even a basic cybersecurity setup can help stop attacks. Strong passwords, no shared logins, and logging out when you leave a computer all help.
Talent gap is a threat
While China and Russia are a concern, the lack of certified, experienced cybersecurity professionals is also a serious threat, writes Ran Shahor, CEO of a firm, in a recent blog. HolistiCyber is a well-known cybersecurity group and a Genesis10 strategic partner.
In the U.S., about one million people work in cybersecurity, and nearly 600,000 jobs are open. Around the world, the numbers are even larger. An estimated 3.5 million jobs were unfilled in 2021. Harvard Business Review says most CISOs worry about the cybersecurity skills gap, and 58% expect it to get worse.
Colleges and universities are responding. They are building focused cybersecurity programs, and some community colleges are working with Microsoft to help fill 250,000 cybersecurity job openings. Companies are also using cybersecurity upskilling and reskilling to build stronger teams.
Other organizations reduce risk with managed security services and outside consulting. These providers can improve security, close gaps, and protect data and assets while lowering overhead.
Genesis10 also helps companies bridge security gaps and the skills gap that many enterprises face today.
Q&A
Question: Why is the cybersecurity talent shortage described as a threat in itself?
Answer: The shortage makes it harder for companies to detect, stop, and respond to advanced attacks. With nearly 600,000 open cybersecurity jobs in the U.S. and millions open worldwide, many teams lack the people they need to protect sensitive data, close security gaps, and manage risk.
Question: What is the onion approach to cybersecurity?
Answer: The onion approach means using multi-layered cybersecurity so attackers must get through several defenses before they reach sensitive data. The article names antivirus software, firewalls, encryption, and penetration testing, but it also says people and good processes are part of the defense.
Question: What basic practices can help reduce the risk of cyberattacks?
Answer: Even a basic cybersecurity setup can help, especially when paired with strong passwords, no shared logins, and logging out when you leave a computer. These everyday habits support broader technical defenses and reduce common weak spots.
Question: How are organizations responding to the shortage of cybersecurity professionals?
Answer: They are responding in several ways. Colleges and universities are building cybersecurity programs. Some community colleges are working with Microsoft to help fill cybersecurity job openings. Companies are also using cybersecurity upskilling, reskilling, and managed security services.
Question: How can managed cybersecurity services help companies?
Answer: Managed security services can help companies improve their security posture, close gaps, protect data and assets, and lower overhead. The article also notes that Genesis10 helps bridge both security gaps and the cybersecurity skills gap.
