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Cybersecurity Breaches Cost Businesses $4.88M Amid Cloud Dependence

2/10/2025

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Summary

Story summary

Cloud computing has become the backbone of modern business, with over 90% of companies depending on it. Yet, the shadow of cybersecurity looms large, as 44% of organizations faced breaches in 2024, costing nearly $4.88 million each. To combat these threats, researchers are innovating secure data storage and enhancing computation methods for encrypted data.

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Story summary

Cloud computing has become the backbone of modern business, with over 90% of companies depending on it. Yet, the shadow of cybersecurity looms large, as 44% of organizations faced breaches in 2024, costing nearly $4.88 million each. To combat these threats, researchers are innovating secure data storage and enhancing computation methods for encrypted data.