Achieving cybersecurity can yield a competitive advantage

DIGITALISATION brings with it huge potential for transforming our lives and economy. However, with increased digitalisation comes the increased risk of cybersecurity breaches.

In recent years, the economic losses from cybersecurity lapses have soared. Cyber crime will cost businesses as much as US$8 trillion (against current global GDP of US$84 trillion) globally in damage over the next five years, according to the World Economic Forum.

With integrated supply chains and increased dependency across different sectors, cybersecurity is clearly a key facet of a country's competitive advantage.