Cybersecurity: a new priority for Swiss companies

The Swiss flag with a binary system and the term HACKED in green

(24.04.2024) Swiss companies have ramped up their efforts to combat cyber threats in 2024. According to PwC's Global Digital Trust Insights 2024 survey, safeguarding against cyber hacking now ranks as their top concern, with 65% of respondents highlighting it.

Interestingly, Switzerland places a higher emphasis on cyber threats (65%) compared to the global average (43%). However, Swiss businesses appear less perturbed by the risks of technological and digital disruptions, with only 32% expressing concern, as opposed to the global average of 51%.

In response to the escalating threat landscape, employers are allocating more resources to cybersecurity. Nearly 70% of those surveyed reported an increase in their cyber budgets for 2024, up from 54% in 2023. Notably, 31% of companies have announced a budgetary increase of 6% to 10% for cybersecurity, a significant rise from 20% in 2023. Additionally, 14% of respondents anticipate a budget increase exceeding 11%.

The focus of cybersecurity investment is on modernization and optimization. Nationally, 55% of entrepreneurs are prioritizing the enhancement of their cyber infrastructure, compared to 49% globally. In contrast, only 41% are concentrating on optimizing existing technologies, compared to 45% globally.

Looking ahead, more than half (51%) of respondents plan to leverage generative artificial intelligence (AI) to bolster their defense against cyber-attacks in 2024, although this figure falls short of the global average of 69%.

However, there is apprehension surrounding the adoption of AI, with 46% of Swiss companies expressing concerns that these new technologies could be exploited by hackers to carry out severe attacks within the next 12 months.


Last modification 24.04.2024

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