Retail Execs Believe Dynamic Computing Will Fuel Growth Despite Cyber Threats

Industry leaders say that dynamic computing will fuel growth in the retail sector. Security Info Watch reports their optimism persists despite the well-documented increase in cyber threats.

The article details a survey commissioned by LevelBlue (formerly AT&T Cybersecurity) for a Cyber Resilience in Retail report. Broadly speaking, it details how the rapid evolution of computing places retail businesses in an endless struggle between innovation and risk. 1,050 C-suite and senior executives were surveyed across 18 countries and seven industries, 171 of which were in retail.

More than 85 percent of retail respondents believe dynamic computing will improve operational performance in the next three years. They foresee enhancements such as AI-assisted strategy development and leveraging sophisticated supply chains. However, 82% acknowledge the increased exposure to risk.

77% believe dynamic computing’s innovation benefits outweigh the cybersecurity risks. They are ready to invest in the technologies that facilitate dynamic computing, although 62% call themselves “cautious” or “late AI adopters.”

According to Theresa Lanowitz, Chief Evangelist of LevelBlue, retailer leaders must think broadly about overall cyber resilience. They continue to face unintended consequences from supply chain attacks and vulnerabilities from third-party sources.

More than 65 percent of respondents report concern about the significant lack of visibility of the supply chain, and another 75% reveal difficulty assessing supply chain risk. Barely one-third say that their supply chain is completely or almost completely secure.

With respect to budgeting, 65% of respondents reported that leadership doesn’t prioritize cyber resilience, and 75% say their organizations do not specifically invest in cyber resilience beyond cybersecurity. More than 70 percent call cybersecurity an afterthought and say that they can’t assess how an attack might impact their organization.