Generative AI to Drive Business Growth for 90% of Organizations

PwC's 2024 Digital Trust Insights reveals that 90% of surveyed organizations anticipate generative AI contributing to the expansion of new business lines in the next 12 months.

The report underscores the strategic significance of increased cybersecurity investments due to evolving regulations like the Digital Personal Data Protection Act, 2023. Cloud security threats are a top concern for over half of business decision-makers, with fears of potential loss of customer data and revenue from cyber attacks.

The study, based on input from 3,876 global executives, highlights the growing adoption of generative AI in cybersecurity, with 91% expecting increased productivity from employees using gen AI in the next year. However, 73% express concerns about potential catastrophic cyber attacks in the same period.

The report emphasizes the need for proactive defense measures and anticipates a 14% increase in cyber investments in 2024, emphasizing the rising importance of cybersecurity in organizational strategies. PwC's recommendations include embracing innovation, automation, and managed services in cybersecurity to enhance defense capabilities.