The Growing Need to Fill the Cybersecurity Talent Gap [Weekly Cybersecurity Brief]

An ongoing conversation happening in the cybersecurity space centers around a major question that continues to loom over the industry. How do we bring in more talent in order to meet the widening environment surrounding this field? The market size and risk landscape are pushing the search for this answer into overdrive.

Fortune recently reported on the growing hiring demand beginning with the significant expansion in cybersecurity. In 2017, the global industry was estimated to represent a $86.4 billion value. Over the course of a decade, that number is expected to rise by 80%. But as we have covered at length, this boom also coincides with a rapidly developing threat backdrop. As these two trends occur, recruitment has not been able to maintain the same pace. As of 2021, there were around 715,000 unfulfilled jobs in the United States. That number grew to 3.5 million globally.

To tackle this situation, the Biden administration just launched a new initiative. According to CNN, a “multi-agency” plan was announced that aims to create hundreds of apprenticeships throughout the private sector. Funding for the program will come from the Department of Commerce, and one of the main focuses will be on encouraging more women, minorities and young people to pursue cybersecurity careers. More of this strategy is set to be released over the upcoming months.

In addition to addressing the talent shortage, the administration is looking to strengthen cybersecurity strategies abroad. During his trip to the Middle East, President Biden participated in an agreement with Israel and Saudi Arabia to cooperate in efforts to protect against the cyber threat posed by Iran. This includes exchanging information on criminal activity conducted by Iran, which has consisted of denial-of-service attacks, ransomware and espionage in the past. Iran was even linked to a cyberattack on the Boston Children’s Hospital last year. Although this agreement comes with some concern over Israel’s and Saudi Arabia’s track record, this does represent a growing emphasis on building cybersecurity partnerships at every level.

Key Takeaways:

“Cybersecurity hiring remains red-hot—the industry to surpass $400 billion market size by 2027” – Sydney Lake, Fortune

https://fortune.com/education/business/articles/2022/07/22/cybersecurity-hiring-remains-red-hot-the-industry-to-surpass-400-billion-market-size-by-2027/

  • In 2017, the global industry was estimated to represent a $86.4 billion value. Over the course of a decade, that number is expected to rise by 80%.
  • As of 2021, there were around 715,000 unfulfilled jobs in the United States.
  • There were 3.5 million unfulfilled jobs globally.

“Biden administration pushes to close the growing cybersecurity workforce gap” – Brian Fund, CNN

https://www.cnn.com/2022/07/19/tech/biden-cyber-workforce-gap/index.html

  • The Biden administration has launched a new initiative to create hundreds of apprenticeship programs in the cybersecurity sector.
  • Funding for the program will come from the Department of Commerce, and one of the main focuses will be on encouraging more women, minorities and young people to pursue cybersecurity careers.
  • More details of the strategy are expected to be released over the coming months.

“US bolsters cyber alliance to counter rising Iran threat” – Ines Kagubare, The Hill

https://thehill.com/policy/cybersecurity/3569722-us-bolsters-cyber-alliance-to-counter-rising-iran-threat/

  • During his trip to the Middle East, President Biden participated in an agreement with Israel and Saudi Arabia to cooperate in efforts to protect against the cyber threat posed by Iran.
  • This includes exchanging information on criminal activity conducted by Iran, which has consisted of denial-of-service attacks, ransomware and espionage in the past.
  • Iran was linked to a cyberattack on the Boston Children’s Hospital last year.
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