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Cyber attacks on power and utility supplies are a genuine threat say industry CEOs

Nearly half of power and utility CEOs are concerned cyber attacks are imminent, according to results released from KPMG’s 2018 Global CEO Study. The survey also found that 58 percent of CEOs feel prepared in their ability to identify new cyber threats and in the event of a cyber-attack, 68 percent feel prepared in their ability to manage external stakeholders, and 63 percent are confident they can contain the impact on strategic operations.

“Technology-driven opportunities in the power and utility sector have also opened the door for significant risks and cyber threats which feature highly on CEOs and Board agendas,” said Regina Mayor, Global Sector Head, Energy and Natural Resources, KPMG. “The levels of cyber defense and preparedness vary across the sector, but it is critical that organizations take the necessary steps to protect their systems or they risk becoming a target for potentially crippling attacks.”

As CEOs navigate around these cyber issues, they are starting to see the importance of new workforce capabilities in supporting their organizations’ future growth, with 59 percent identifying cyber security specialists as the most important new role, followed by data scientists (57 percent) and digital transformation managers (54 percent).

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