Introduction: Many leaders in business, civil society and government realize that for the world’s economy to fully derive the value inherent in technological innovation, a robust, coordinated system of global cyber resilience is essential to effectively mitigate the risk of cyberattacks. This view is beginning to permeate discussions among senior leaders in the private and public sectors, and across different industries, as concerns related to cyber resilience shift from awareness to action. The critical questions today are: what needs to be done, and how can it be achieved?
Risk and Responsibility in a Hyperconnected World, a joint effort between the World Economic Forum and McKinsey & Company, assesses the necessary action areas, and examines the impact of cyberattacks and response readiness.
The report sets these against three alternative scenarios in which economic value from technological innovations is realized or lost depending on models of cyber resilience. It draws on knowledge and opinions derived from a series of interviews, workshops and dialogues with global executives and thought leaders to estimate the potential value to be created through 2020 by technological innovations. It examines the value that could be put at risk if the adoption of such innovations is delayed because more frequent, intense cyberattacks are not met with more robust cyber resilience. Finally, the report draws conclusions from the analysis and research, and offers a 14-point roadmap for collaboration.