Canadian business leaders are calling for governments to establish "cyber firefighting teams" to help them combat increasingly complex cyberattacks that are now being powered by artificial intelligence and will likely be amplified by quantum computing in near future, finds new KPMG in Canada research.
Nearly nine in 10 named cyberattacks the greatest threat to their three-year growth plans, with 83 per cent concerned that they can't withstand current or next generation cyberattacks.
"As Canada becomes more reliant on digital infrastructure, the risks posed by cyberattacks are now just as serious as natural disasters like wildfires, floods, and tornados," says Hartaj Nijjar, National Leader of Risk Services and Cybersecurity at KPMG in Canada. "These attacks can come fast and without warning, often overwhelming even the best-prepared organizations. It only takes one major cyber incident to destabilize essential services, disrupt the economy, and erode public trust. For that reason, we need to prioritize collaboration between public and private sectors to build the right rapid-response capabilities and strengthen national resilience before the next crisis hits."