Cybersecurity: Landscape, impact and what comes next

As cyberattacks increase, so does the importance of maintaining a robust cybersecurity stack. But what's next on the horizon?

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Vanessa Cook

May 2023

Key takeaways

  • With more than 1,800 data breaches across the U.S. in 2022, 63% more than a pre-pandemic year (source: Identity Theft Resource Center report), cybersecurity controls and cybersecurity companies are under increasing pressure to do more.
  • But BofA Global Research believes that factors such as an uncertain economic outlook, challenges with the Zero Trust framework, artificial intelligence risks and an ever-changing landscape of data solutions, could only reinforce the critical importance in maintaining a robust cybersecurity stack as the increasing velocity of cyberattacks may intensify.
  • Recently, BofA Global Research analysts spoke with Chief Information Security Officers (CISOs) and distributors across a broad range of industries about cybersecurity budgets, spending patterns and trends for 2023.

Read our full analysis for a more in-depth look at these trends.