The cost of uncertainty

Published on: January 29, 2019 / Update from: January 29, 2019 - Author: Konrad Wolfenstein

Companies worldwide could lose $5.2 trillion in revenue due to cyberattacks in the next five years. At least that’s what Accenture analysts estimate in the current study “Securing the Digital Economy: Reinventing the Internet for Trust”. The high-tech industry is hardest hit, costing more than $753 billion. This is followed by life sciences ($642 billion) and automotive ($505 billion). “When it comes to cybersecurity, most companies lag behind the sophistication of cybercriminals. This leads to a loss of trust in the digital economy,” says Uwe Kissmann, Managing Director of Accenture Security in Europe.

5.2 trillion dollars in revenue could be lost to cyber attacks over the next five years. This is what Accenture analysts estimate in the current study “Securing the Digital Economy: Reinventing the Internet for Trust”. The high-tech industry is hardest hit with more than 753 billion US dollars. This is followed by life sciences (642 billion US dollars) and the automotive industry (505 billion US dollars). “When it comes to cyber security, most companies lie behind the sophistication of cyber criminals. “This leads to a loss of confidence in the digital economy,” says Uwe Kissmann, Managing Director of Accenture Security in Europe.

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