Retailers Fortify Cybersecurity, Investing in AI and Collaboration
Retailers worldwide are fortifying their cybersecurity measures, investing heavily in omnichannel protection, and expanding their teams and budgets to combat increasingly sophisticated threats. Collaboration and AI advancements are at the forefront of these efforts.
The Retail & Hospitality Information Sharing and Analysis Center (RH-ISAC), established in 2006, plays a pivotal role in this united front. It brings together cybersecurity leaders from competing companies, facilitating intelligence sharing, workshops, and conferences. This collaboration has grown significantly, with membership now spanning hundreds of retail and hospitality companies globally.
Retailers face advanced threats like AI-driven deepfakes and voice cloning, making fraud detection challenging. To counter this, they are investing in AI as a defensive tool and enhancing employee training. The National Retail Federation also supports these efforts, promoting best practices and consumer trust.
Retailers are doubling their cybersecurity budgets since 2019, focusing on proactive business resilience. This includes expanding cybersecurity teams and investing in omnichannel security to protect against threats across all operational channels.
Cybersecurity is now a core business priority for retailers, directly impacting customer trust, operational resilience, and the bottom line. By investing in omnichannel security, expanding budgets and teams, and collaborating through organizations like RH-ISAC, retailers are united in their mission to protect consumers and maintain trust in the sector.
