Cyber-risk management, now a top concern for executives and regulators, utilizes multiple methods and techniques to support governance, risk management and compliance.

This Hype Cycle outlines how organizations can utilize concepts, methodologies, processes and technology solutions to manage cyber risks and capitalize on risk-related opportunities. Organizations must adapt their approach to cyber-risk management and align cybersecurity strategies with business objectives, prioritizing business impact and outcome orientation.

As outlined in this report, security teams are evolving their cyber risk management programs by: 

  • Aligning cybersecurity strategies with business objectives, thereby driving value generation and ensuring that cybersecurity efforts directly contribute to the organization’s bottom line.
  • Implementing adaptive risk identification and evaluation strategies to keep pace with the rapidly changing technology and business landscapes.
  • Utilizing advanced tools specifically designed for cyber-risk management. Such tools include near-real-time monitoring systems, automation for resource-heavy processes and impact-focused risk assessment methods.

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Gartner Hype Cycle for Cyber Risk Management, 25 July 2023, Deepti Gopal, Sema Yuce, Michael Kranawetter