Boston Consulting Group Unveils Report on Global Cybersecurity Talent Shortage at Global Cybersecurity Forum 2024
- Businesses are investing $200 billion annually in cybersecurity but still face a talent shortfall
- Organizations are exposed to growing cyber threats, with only 72% of cybersecurity roles currently filled
Riyadh, October 3, 2024 – Boston Consulting Group (BCG), in collaboration with Global Cybersecurity Forum (GCF), unveiled its “2024 Global Cybersecurity Workforce Report” at the GCF Annual Meeting 2024. Titled “The Global Cybersecurity Workforce Shortage and Skills Gap: A Threat We Cannot Ignore,” the report highlights a significant global shortfall in cybersecurity professionals despite considerable infrastructure and talent development investments. The GCF Annual Meeting 2024, themed “Advancing Collective Action in Cyberspace,” focuses on enhancing multi-stakeholder collaboration to address key cybersecurity challenges.
Cybersecurity Workforce Crisis
The report highlights that only 72% of cybersecurity roles are currently filled, leaving organizations vulnerable to rising cyber threats. The global cybersecurity workforce stands at 7.1 million professionals, with Asia-Pacific holding the largest share, while Africa faces severe underrepresentation with fewer than 300,000 professionals.
Amidst this workforce shortage, Generative AI (GenAI) is transforming the cybersecurity landscape, with 70% of organizations already incorporating AI into their cybersecurity frameworks. This shift presents both opportunities and challenges. While AI can help address some workforce gaps, it also introduces new complexities. 58% of cybersecurity leaders express concern about AI-enabled adversarial techniques, such as more sophisticated phishing attacks or automated vulnerability exploitation, which could outpace traditional defenses. To address these evolving challenges, 60% of organizations are focused on continuous training and upskilling, aiming to equip their limited workforce with the skills needed to leverage AI effectively while defending against AI-enhanced threats.
Shoaib Yousuf, Managing Director and Partner at BCG emphasized the GCC’s advancements in the face of an increasingly complex cyber threat landscape: “The region’s cybersecurity capabilities have evolved significantly, driven by government initiatives like Saudi Arabia’s Cybersecurity Workforce Framework (SCyWF), embedding a strategic focus on capacity building through the recently announced UAE and Qatar national cybersecurity strategies. These initiatives highlight a steadfast commitment to protecting critical infrastructure and safeguarding sensitive data. Through targeted investments, international collaborations, and a proactive planning, the GCC is advancing its cybersecurity landscape and contributing to the evolving standards for a secure global cyberspace. By refining its cybersecurity frameworks and addressing emerging threats head-on, the region is solidifying its position as a global leader in cybersecurity, paving the way for a secure, future-ready digital ecosystem.”
Call to Action: A Roadmap to Success
The report emphasizes the urgent need to attract new talent, especially among underrepresented groups such as women, who comprise just 24% of the cybersecurity workforce globally. To address these challenges and build a future-ready workforce, the report outlines key strategic recommendations:
- Targeted and strategic outreach to underrepresented groups
- Embedding cybersecurity into organizational DNA
- National & academic campaigns for cybersecurity careers
- Building an inclusive, diverse, and supportive culture
- Clear career progression and development
- Adopting skills-based hiring practices
- Expanding the talent pool with inclusive practices
- Fostering a culture of lifelong learning
- Integrating cybersecurity education from the ground up
- Evolving curriculum to meet industry needs
Vanessa Lyon, Managing Director and Senior Partner at BCG emphasized the importance of collaboration: “To shape the cybersecurity workforce of tomorrow, leaders must collaborate to integrate cybersecurity into education, continuously upskill talent, and create opportunities for underrepresented groups. Building a future-ready workforce means fostering a culture of continuous learning, ensuring we have the skilled defenders to support global security and economic stability in the face of rapidly evolving technologies.”
The “2024 Global Cybersecurity Workforce Report” presented at the GCF Annual Meeting 2024 aligns with the Meeting’s theme of “Advancing Collective Action in Cyberspace.” This collaboration contributes crucial insights into the human capital required to navigate the evolving cybersecurity landscape. The report’s findings and recommendations provide a foundation for addressing key challenges in the cybersecurity domain, from talent shortages to integrating emerging technologies.
Please visit the link to access the entire “2024 Global Cybersecurity Workforce Report” and explore detailed insights and recommendations.
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