The phenomenon of digitization is reaching an inflection point. The effects of an increasingly digitized world are now reaching into every corner of our lives because three forces are powerfully reinforcing one another:
- Member pull: Members naturally expect to be always connected, are willing to share personal data, and are more likely to trust referrals from their closest friends than well-known brands.
- Technology push: Digital technology continues to expand its influence through a sophisticated backbone and low-cost connected devices being deployed in every industry, and cloud computing, and the vast information-processing machinery it requires, is developing quickly.
- Economic benefits: The economic benefits to be captured through digitization are real and changing industries daily.
- Slightly under half agree that risk alone drives security spending.
- Over half of the firms polled employ a chief information security officer (CIS0).
- Two-thirds say their security spending is aligned with the revenues of each line of business, but a third say it is not, or that they don’t know.
- 69% believe companies are vulnerable to cyber attacks.
- 87% will leave a company if they don’t trust it to responsibly handle their information.
- 88% say they will share information only if they trust the company.