Are you looking for ways to reinvigorate your tech career? Or maybe you're wondering how to protect your skills from the ever-expanding capabilities of generative AI?
Whatever your motivation, a shift to cybersecurity may be the answer.
According to an analysis conducted by Mordor Intelligence, the U.S. cybersecurity market size is expected to grow from $85.79 billion in 2024 to $126.57 billion by 2029, growing at a compound annual growth rate (CAGR) of 8.09%.
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In fact, recent data compiled by the IMF shows that the risk of significant economic loss from cybersecurity is increasing, having quadrupled since 2017 to $2.5 billion ($12 billion has been lost to cybercrime over the past 20 years).
As financial institutions seek to protect themselves and their clients from increasingly sophisticated ransomware attacks, the reality is that the cybersecurity field is plagued by a talent shortage, even as many organizations across industries are adopting a proactive and strategic approach.
The silver lining? There are plenty of opportunities for those who want to work in this field.
“To begin a career in cybersecurity, you need to have a strong foundation in computer science and fundamental technical skills,” says Eileen Alkins, CEO of TeKnowledge, a digital transformation consulting firm that provides managed services, digital skills solutions and cybersecurity strategy.
Alkins also advises that a solid educational background, focusing on developing key competencies such as analytical problem-solving and effective communication, is important.
“These skills enable professionals to identify vulnerabilities and clearly articulate security strategies. In the ever-evolving field of cybersecurity, continuous learning and hands-on experience are highly valued by organizations.
“The ability to adapt to rapid technological change and lead security strategies is highly sought after in both the government and corporate sectors.”
While the security analyst role is a good starting point, Alkins says those aspiring to leadership roles should consider moving up to more senior roles such as security consultant, manager or chief information security officer (CISO).
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