This year’s main theme will be: Leadership. But what does this mean?

According to the latest 2023 PwC Global CEO Survey released on 16 January 2023, CEOs’ pessimism in global economic growth is at an all-time high.  Cybersecurity remains one of the key levers that CEOs can draw on to protect their organisation from evolving risk – 48% of CEOs say they are increasing investment in cybersecurity or data privacy in response to rising geopolitical conflict.

After a turbulent 12 months, it is no surprise that global CEOs identify inflation (40%), macroeconomic volatility (31%) and geopolitical conflict (25%) as their top three risks for the year ahead.

Cyber is fourth (20%) and it’s the top operational risk, remaining firmly on board agendas. The geopolitical environment and rapid digitisation continue to focus CEO attention on cyber risk.

At the same time, CISOs are facing an unlimited number of various attacks and risks everyday. DPOs see their mission evolve to ensure data security and privacy are respected, in a complex environment.

Today, very few board level members are unaware of the growing tidal wave of cyberattacks. The media is full of non-stop horror stories of data breaches and ransomware attacks. The perpetrators continuously find new and creative ways to carry out their crimes. Protecting an organisation is now part of the daily business routine.

Developing and executing a winning cybersecurity strategy not only requires leadership buy-in but the commitment of CEOs and CISOs to communicate well, to stay aware and up-to-date on current trends, and to allocate enough resources to their teams for protection – given the rising frequency of attacks and the extent of financial and reputational damage that a company can suffer.

Your next move: mobilise the C-suite.

CEOs have an important role to play to stay ahead of cyber challenges, ranging from speaking publicly about their commitment to cybersecurity, to using their influence to inspire sweeping changes, and creating a united front against attacks. Unity starts in the C-suite, according to PwC’s recent Digital Trust Insights research, which found that a critical contributor to cybersecurity improvements at leading companies was C-suite collaboration to make the most of sustained, cumulative investments in risk mitigation.

In both the Cybersecurity & Privacy Day – CEO Corner on o7 June, and the PwC Cybersecurity & Privacy Day itself on 08 June, topics around leadership’s responsibility to not only support cybersecurity efforts but to also drive a culture of security and awareness will be the main themes of the day.

As every year, one of the most exciting aspects of the PwC Cybersecurity & Privacy Day is the Pitching competition. What is PwC looking for? The top five innovative solutions addressing major cybersecurity or privacy challenges!

As with last year, the top five finalists will compete for 2 awards:

– 2023 PwC Cybersecurity & Privacy Solution of the Year – Jury’s Choice

– 2023 PwC Cybersecurity & Privacy Solution of the Year – People’s Choice

Apply to pitch! The advantages are many!

• Pitch your solution and gain credibility with international investors and corporate stakeholders.
• Increase your visibility through international media exposure.
• Benefit from professional coaching by the PwC team.
• For more information and to apply click here.

Key dates to remember:

• Application start: 18 January 2023
• Application deadline: 28 February 2023
• Announcement of the five selected solutions: mid-April 2023
• PwC Cybersecurity & Privacy Day event – CEO Corner: 07 June 2023
• PwC Cybersecurity & Privacy Day, including the Pitching competition: 08 June 2023

Koen Maris, Cybersecurity Leader, PwC Luxembourg says:

“More and more, the perception of cybersecurity as strictly an IT function has changed.  It is a strategic part of the daily business of an organisation. But to be effective, it has to be driven by senior management. Good governance and leadership at the top of the organisation are necessary to establish a corporate culture of cybersecurity and privacy and protect the firm as well as its customers. This includes the ability to adapt and adjust to the changing environment in this area. Cybercriminals are a species that evolve all the time. Technology is changing all the time. And hackers change with it. Good leadership means never resting on the solutions that keep you protected today, but constantly preparing for what the hackers will do tomorrow. We look forward to welcoming you on our premises for what should be an excellent agenda.”