Widening disparities, growing threats cloud global cybersecurity outlook.

An average of eight in ten top business executives globally feel more or as exposed to cybercrime than they did last year, a new survey showed on Thursday.

The World Economic Forum’s Global Cybersecurity Outlook 2024 report, prepared in collaboration with Accenture, also flagged threats posed by AI-generated deepfakes to spread false information about candidates in an election or manipulate public perception.

The warning comes in the wake of more than 45 countries scheduled to hold elections over the next year to determine who governs more than 50 per cent of the world’s GDP.

Other key risks flagged in the report included organised misinformation campaigns on social media or other channels to influence public opinion, cast doubt on election integrity and sway election outcomes.

It also warned of AI (artificial intelligence) algorithms to generate and spread large volumes of disinformation, making it harder to detect and combat; and targeted AI-driven microtargeting of misinformation through personalised advertisements to manipulate opinions or suppress voter turnout.

Findings of the study are likely to be discussed in detail by global leaders at the five-day WEF Annual Meeting beginning January 15.

The WEF report also said that there has been a sharp increase in cyber inequity globally, with 90 per cent of executives warning that urgent action is needed to address it.

It further said that 81 per cent of those surveyed feel more or as exposed to cybercrime than they did last year.

While increased geopolitical tensions and economic instability continue to concern industry experts, the report flagged widening cyber inequity and emerging technologies, such as artificial intelligence, as key rising risks for the year ahead in the fast-growing cybersecurity sector.

The report is based on a series of surveys of industry experts and global executives about key cyber trends carried out between June and November 2023.

Given the increasingly complex cyber threat landscape, the report called for concerted collaboration, across borders and industries, to counter these interrelated threats and build a more resilient environment.

The increasingly stark divide between cyber-resilient organisations and those that are struggling has emerged as a key risk for 2024.