“Many executives are declaring cyber as the risk that will define our generation,”
Dennis Chesley, PwC’s Global Risk Consulting Leader, Global State of Information Security Survey 2016.

The enterprise approach to cyber risks has reached a turning point, reveals the Global State of Information Security Survey 2016, PwC’s annual report conducted in conjunction with CIO magazine and CSO.

Perhaps driven by a remarkable rise in detected incidents – Australian organisations saw a 109% spike – boards are now treating cyber security as a cross-functional, business-oriented concern, ramping up investment and looking to new technologies to both reduce risk and increase performance.

In addition to investment in technologies, businesses are increasingly addressing the human side of the equation by taking a collaborative approach, sharing intelligence with industry peers in order to stay ahead of rapidly evolving threats.

This infographic reveals some of the major Australian insights from the report. We’ve boosted budgets at over double the rate of the average organisation globally, seeing a 59% rise from 2015. Almost a quarter of those surveyed already have or will induct a CSO role in the coming year. Australia is also heavily prioritising cloud computing – an area that’s beginning to offer some innovative opportunities to manage risk.

For the full Australian report, read the Digital Pulse article by Steve Ingram here.