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The figure is an estimate of the global cost, not just EU. And I recall seeing a figure of 300B USD per year just on system integration projects (i.e., just plu
by smarx007 3y ago
The figure is an estimate of the global cost, not just EU. And I recall seeing a figure of 300B USD per year just on system integration projects (i.e., just plumbing). Compared to that, the figure looks believable.
- marcinzm 3y agoThat's more than the worldwide spending on IT per year.
- smarx007 3y agoHaha! I dug a bit deeper and the figure seems to be a 2019 projection: https://ai-watch.ec.europa.eu/publications/cybersecurity-our-digital-anchor_en https://ai-watch.ec.europa.eu/publications/cybersecurity-our... UPD: here is the original source for the figure https://cybersecurityventures.com/cybercrime-damages-6-trillion-by-2021/ https://cybersecurityventures.com/cybercrime-damages-6-trill... That report includes the cybersec costs as well as says that it was a 120B market in 2017 and made a projection that it would be worth 1T+ by 2021. Would be interested to see how those projections fared if anyone has better stats.
- marcinzm 3y agoSo it seems to be a projection based on a presentation by the CEO of Microsoft that said the loss of potential revenue and growth is $3T in 2016 (note this is itself not actual measured impact but also a counter-factual projection). In other words it's the most aggressive projection (ie: most sources note it as such) based on the most liberal definition possible of impact from a throwaway slide by a CEO. Then it's listed as the actual number and not a historical projection from half a decade ago. https://www.smartcompany.com.au/technology/complacency-over-cybercrime-cost-3-trillion-in-2015/ https://www.smartcompany.com.au/technology/complacency-over-...