On the other hand, virtual spaces created new territory for cyberattacks, data leaks, company breaches, and internal threats. Phishing attempts rose 600% and cloud-based attacks rose 630%, according to a 2020 report from IBM
. The cost of data breaches averages $3.86 million in the United States, let alone the nonmonetary erosion of company buy-in, brand integrity, and trust. Chief information officers (CIOs) and chief information security officers (CISOs) now face exponential pressure to not only keep the lights on but also address monumental demands that could determine the future of their company.