Cybersecurity is becoming a worrying economic challenge. Here's what we can do
Cybersecurity is becoming a worrying economic challenge. Here's what we can do
Author: World Economic Forum
Cyber risk, long recognised as a cause for concern in the national security domain, is now also understood as a threat from the macroeconomic point of view, as an increasing share of value added is produced through ICT-enabled means. In 2012, information industries alone accounted for 6% of total value added, 4% of employment and 12% of total fixed investments in the OECD area, while ICT-related patents made up 40% of total patents filed under the Patent Cooperation Treaty (OECD 2014, 2015). In 2014, the digital sector – a narrow subsample of all ICT-enabled industries – employed 1.4 million people and accounted for 7.3% of the economy in the UK (UK Department for Culture, Media and Sport 2016). These are very conservative lower bounds for the size of the value added provided to the economy as a whole by digital technology. An alternative, suggestive description of the pervasiveness of digitalisation was proposed by the World Bank (2016) by picturing a typical day in the life of the internet.
Not only is digitalisation spreading fast, but by its very nature it deepens the level of interconnectedness within the economy. Hence, the impact of cyber attacks goes beyond damage caused to individual victims.
The President of the Center for International Relations and Sustainable Development (CIRSD), Vuk Jeremić delivered a lecture at ADA University, Azerbaijan’s top-tier educational institution entitled "Geopolitics of the Balkans and How it Relates to the Caucasus”.
Read more
Vuk Jeremić lectures at the Diplomatic Academy in Vienna
At the invitation of the Diplomatic Academy in Vienna, one of the most prestigious and oldest schools on the European continent, CIRSD President Vuk Jeremić delivered a lecture entitled “(Geo)politics of the Balkans: The Revenge of History”, on February 7th, 2023.
Read more
Prof. Sachs: “Sanctions against Russia ineffective and contrary to international law”
CIRSD had the privilege to host one of the world’s brightest minds and most famous economists – Prof. Dr Jeffrey Sachs in a live discussion titled "The winter of Our Discontent".
Read more
Central Asia: The Age of Reform
The Center for International Relations and Sustainable Development (CIRSD) co-organized a conference on December 7, 2022, titled “Central Asia: The Age of Reform” at the Diplomatic Academy of Vienna, one of the most prestigious and oldest (1754) schools in Europe.
Read more