Australia's available pool of cybersecurity skills is smaller than realised, with a shortage of 10,000 technical roles and just one professional for every 240 businesses, contributing to data breaches.
The skills gap is due to rapid technological change, evolving cyber threats, and a limited talent pool in a newer discipline like cybersecurity, leading to challenges for businesses, especially smaller ones.
Smaller enterprises face difficulty competing for cybersecurity professionals as larger companies outcompete them, prompting an increasing reliance on managed security service providers.
Outsourcing cybersecurity is becoming a common practice for companies, similar to outsourcing other functions like IT and legal services, to address the skills gap and security challenges.
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