64% of Canadian CEOs surveyed expressed concern about data security: PwC

Cyber security is “strategically important” to three of four Canadian chief executive officers surveyed, while nearly two-thirds identified cyber threats as a concern, PricewaterhouseCoopers (PwC) LLP suggested in a recent report.

PwC released results from the 18th Annual Global CEO Survey, launched at the Annual Meeting of the World Economic Forum in Davos, Switzerland.

In a report on the Canadian results – titled Working Within Blurred Boundaries – PwC included figures of “technologies considered strategically important to Canadian CEOs.”

Seventy five per cent of Canadian CEO respondents said cyber security was “strategically important,” 84% identified “mobile technologies for customer engagement” and 59% identified the “Internet of things.”

PwC said it interviewed 1,322 CEOs from 77 countries, including 44 from Canada, during the fourth quarter of 2014.

Canadian CEOs surveyed “recognize the importance of having a digital strategy,” suggested Bill McFarland, chief executive officer and senior partner at PwC Canada, in the report.

What’s keeping CDN CEOs up at night? Digital transformation and #cybersecurity to name a few: http://t.co/6C1oBYUioH pic.twitter.com/GuIWZyNzRT

— PwC Canada LLP (@PwC_Canada_LLP) January 28, 2015

“Many CEOs we spoke with tempered their opinions with the recognition that there are more business threats today than ever before,” added McFarland. “Compared to last year, Canadian CEOs are more concerned about the cost of regulation, the threats of cyber-security and changing customer preferences.”

More than half – 55% – identified cloud computing as strategically important.

“Technology matters lead the way when it comes to business threats to Canadian organizations,” PwC noted. “Cyber threats, including lack of data security (64%) and the speed of technology change (64%) were identified equally as a concern by Canadian CEOs -although substantially more US CEOs, (86%) voiced concern about cyber-threats.”