Ransomware attacks lead to companies raising prices
Ransomware attacks are influencing price inflation, according to a new UK survey by Censuswide, commissioned by Veeam Software.
The findings show that large organizations are having to increase costs to customers by an average of 17 percent following an attack. Nearly a quarter of companies (22 percent) say they increased prices by 21-30 percent, while six percent increased prices by 31-40 percent.
Open source skills could help drive UK economic growth
Open Source contributed 27 percent of the UK tech sector's Gross Value Added (GVA) in 2022, according to a new report from OpenUK, the non-profit organization representing the UK’s open technology sector.
The report finds that there are 3.2 million GitHub accounts in the UK and 8,200 UK contributors to open source projects in the past year. There have also been1,700 new contributors to open source projects in the last 12 months, representing 20.7 percent growth.
Business leaders worry more about ransomware than the economy
According to a new survey from Censuswide for Veeam Software, UK business leaders rate ransomware as a more significant threat to their organization (43 percent) than the economic crisis (41 percent), skills shortages (34 percent), political uncertainty (31 percent), and Brexit (30 percent).
The survey 100 directors of UK companies with over 500 employees who had suffered a ransomware attack in the past 18 months finds 61 percent are anxious about the prospect of another attack.
How can Europe create a thriving deep tech economy?
Europe possesses tremendous potential in the field of deep tech. Boston Consulting Group reports that European deep-tech investment has grown by approximately 50 percent annually since 2015. It stands as one of Europe's most promising areas for growth, with leading start-ups in AI, quantum computing, automation, and more.
Nevertheless, Europe faces a dilemma as an increasing number of deep-tech firms redirect their focus to the United States to accelerate their expansion. The decision of chip designer ARM to list on the US Stock Exchange was a particularly painful blow. State-backed initiatives in the US and China present a formidable challenge for European governments, with multi-trillion-dollar investment packages providing significant opportunities for American tech firms. Europe now has an opportunity to foster the growth of deep tech firms by developing a clear strategy that drives innovation and maximizes the continent's existing strength in STEM.
Security teams continue to hire despite economic uncertainty
The cyber talent shortage is a greater concern for CISOs than ongoing economic uncertainty, according to the latest Information Security Maturity Report from ClubCISO and Telstra Purple.
Insufficient staff is named as the top (51 percent) concern for CISOs when asked which factors most affect their ability to deliver against their objectives.
How small business owners can reassess their cybersecurity strategies during economic downturns
The economic headwinds are blowing, and that has a lot of people nervous, not the least of whom are small business (SMB) owners across the country. With talk of recession in the air, SMB owners and their investors are paying extra attention to their bottom lines to maintain efficiency and innovation while managing costs. In many cases budgets are being squeezed, body counts are being leveled or reduced, and programs thought to be outside the core function of the enterprise are being slashed. It is unfortunate, however, that cybersecurity is often among the programs on the chopping block as it is perceived to be a less-than-essential expense.
As a former (and current) small business owner whose previous business was decimated by a malicious cyber-attack, I can attest to the short-sightedness of the belief that cybersecurity is an add-on, not a must-have.
Why the economic downturn is the perfect time to simplify your identity data
As we begin a new year, things look bleak for the global economy. In January, the World Bank predicted global GDP to hit just 1.7 percent growth, the worst since 1993 outside of recessionary periods.
Organizations around the world are tightening their belts in preparation for lean times. Hiring freezes and reduced spending on facilities and IT are usually the natural reaction to economic uncertainty.
CIO role gains in importance as economic hardship bites
According to a new report, 77 percent of CIOs say their role has been elevated due to the state of the economy and they expect this visibility within the organization to continue.
The 22nd annual State of the CIO report from Foundry looks at how the CIO's role has changed over time, as well as an in-depth analysis of technology and business initiatives that CIOs plan to focus on in 2023.
Online sellers remain optimistic despite looming recession
A new study shows that online sellers remain optimistic about the current eCommerce market despite consumers cost of living concerns and an impending recession.
The research, from eCommerce helpdesk specialist eDesk and based on a survey of over 200 online sellers in the US, shows that 53 percent of sellers expect to see an increase in online shopping over the next six months.
Is data a silver bullet for the slowing economy?
During the pandemic, companies with a strong understanding of their business as a whole, including employees, partners, customers and even suppliers, fared better than those without the ability to review and use data to drive growth.
History has shown that the greatest weapon against uncertainty is information. Understanding your business at a microscopic and holistic level is now more important than ever, as the threat of a recession looms. This means that information must be treated as a central tool in leading all businesses through any potential storm.
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