How cybersecurity events can combat cyber poverty

Cyber poverty is a term that refers to a state in which organisations, or any entities, don’t have adequate resources, influence, or capabilities to maintain a level of cybersecurity that sufficiently protects them (and every other entity they come into contact with) in the current threat landscape. 

A cyber-poor organisation might have insufficient budgets to cover cybersecurity costs, for example. They might lack cybersecurity expertise within their teams, and have limited capabilities to implement effective cybersecurity practices. And often, they don’t have the influence over their supply chains to ensure tight security at every step. 

Following the publication of a recent report by the World Economic Forum, let’s take a look at the state of cyber poverty right now; and consider how large-scale cybersecurity events and conferences can contribute to increased equity worldwide. 

The state of cyber poverty  

The World Economic Forum’s Global Cybersecurity Outlook 2024 insight report urged for a systemic solution to address the inequity in capacity for cyber resilience across organisations and countries. 

The inequity is growing because of rapid growth in digital adoption and the related expansion of the cybersecurity economy, which grew twice as fast as the world economy in 2022. In 2023, it grew four times faster; and while organisations and governments are increasing their investment in cyber resilience, development is uneven. 

Organisations reporting that they’re able to maintain minimum viable cyber resilience are down by 31% since 2022, and the gap between those with cyber resilience and those without continues to widen. Organisations at the lower end of that gap find it impossible to keep up with technological developments and the evolution of the threat landscape, so they’re falling further behind at a worrying rate. 

This isn’t just bad for those organisations, though – in a highly complex and interconnected sector, a lack of cyber resilience within some organisations can quickly compromise the integrity of the whole ecosystem. 

Other notable inequity findings from the WE Forum report include: 

• The smallest organisations are more than twice as large as the largest to report they lack the required cyber resilience to meet their minimum critical operational requirements.
• The highest-revenue organisations are 22% more confident than the smallest organisations that their cyber resilience is greater than their operational cybersecurity needs.
• The smallest-revenue organisations are three times more likely to lack the cyber skills necessary to meet their cyber resilience goals.

What can cybersecurity conferences do to close the cyber poverty gap? 

When we interviewed Ramy Houssaini (Chief Cyber & Technology Risk Officer, & Group Privacy Officer, at BNP Paribas) about the organisation he co-founded in 2023, the Cyber Poverty Line Institute, we asked him what he thinks cybersecurity events like Black Hat MEA could do to contribute to reducing the imbalances in cyber. 

He said: 

“Black Hat events provide invaluable opportunities for cybersecurity professionals to exchange cutting-edge knowledge and insights, enhancing their expertise and staying abreast of the latest threats and solutions. 

“They facilitate critical networking and collaboration among industry leaders, which can drive innovation and improve cybersecurity practices across organisations. By spotlighting emerging threats and vulnerabilities, Black Hat events help raise awareness and drive proactive measures to strengthen global cybersecurity resilience. 

“Specifically, events like Black Hat MEA are crucial in addressing social imbalances in cybersecurity by facilitating knowledge sharing, improving resource access, and fostering a more inclusive cyber community.” 

To do that, Ramy went on, large-scale cybersecurity conferences can: 

• “Provide workshops, seminars, and hands-on training specifically designed for participants from underserved regions. This targeted education helps bridge the gap between well-resourced and less-resourced communities, equipping them with essential cybersecurity skills.” 

• “Connect cybersecurity experts, businesses, and governments from different regions, to foster collaborations aimed at strengthening cybersecurity infrastructure in less-developed areas. These connections promote a more equitable distribution of resources and expertise.”

• As a key cybersecurity event in the MENA region, “Black Hat MEA can address region-specific cybersecurity issues, facilitating the development of strategies tailored to the unique needs of communities within the Middle East and Africa. This localised approach directly targets and alleviates cyber poverty.” 

By bringing global attention to these inequities and facilitating collaboration towards actionable solutions, industry conferences have a valuable role to play in closing the cyber poverty gap.

Join us at Black Hat MEA 2024 and discover how to improve your organisation’s cyber resilience.