In a context of growing concern for security in the digital realm, more than half of Spanish companies anticipate an increase in high-impact cyberattacks as a result of the use of artificial intelligence (AI). This data, taken from the Digital Trust Survey 2024 report prepared by PwC, is based on the opinion of 3,876 executives from 71 countries, including 143 Spanish companies.
The report reveals an alarming increase in the frequency and complexity of cyberattacks, as well as the economic impact these have on businesses. In the last three years, 36% of companies globally, and 20% in Spain, have experienced critical cyberattacks with economic impacts exceeding one million dollars. The most affected sectors include healthcare, technology, telecommunications, entertainment, finance, and energy.
Facing this situation, companies are not skimping on resources to strengthen their cybersecurity systems. 81% of respondents worldwide and 82% in Spain plan to increase their investments in this area. In Spain, these increases are expected to range between 6% and 15% compared to the previous year. By 2024, cybersecurity investment as a share of total technology investment is projected to grow by 14%, three points higher than the previous year.
Prioritized areas of investment include technology and infrastructure updates and modernization, with a particular emphasis in Spain on regulatory compliance and improvement in cyber risk management.
One of the main concerns for executives is cloud security. 47% of global respondents and 43% in Spain consider this aspect as their main concern in terms of cyber risks, due to the multiple attack vectors and numerous security controls that need to be implemented.
To defend against cyberattacks, companies plan to use the same technology that is contributing to their increase: artificial intelligence. 69% of executives worldwide and 61% in Spain plan to use generative AI for cyber defense in 2024. The most relevant uses of this technology include threat detection and analysis, generation of cyber risk reports, and application and updating of security controls.
These data underline the critical need for companies to adapt and strengthen their cybersecurity strategies in response to new emerging threats and the constant evolution of the digital landscape.