Caribbean businesses plan to place emerging artificial intelligence (AI) technologies at the heart of their cybersecurity strategies in 2026, even as new research finds only a tiny fraction of firms are ready to handle rapidly escalating digital threats, among other gaps.
PricewaterhouseCoopers’ (PwC’s) 2026 Global Digital Trust Insights Survey reveals that AI will take centre stage in cybersecurity investments.
The survey shows that 78 per cent of organisations expect to increase their cybersecurity budgets in the next year, with AI investment (36 per cent) leading priorities.
But only six per cent of organisations globally are ‘very capable’ of withstanding cyber-attacks across all vulnerabilities, it noted.
The study, which gathered insights from nearly 4 000 business and technology executives across 72 countries, said that 27 per cent of businesses reported their most damaging data breach in the last three years cost at least US$1 million.
It disclosed that cyber skills gaps — especially in the application of AI for cyber defence (50 per cent) and lack of relevant skills (41 per cent) — remain the top challenges for organisations.
“As digital transformation accelerates across the East Caribbean, businesses are prioritising cybersecurity investments to address a rapidly evolving threat landscape,” the report said.
According to the survey, AI has emerged as the top investment priority for cybersecurity leaders, outpacing cloud, network and data protection.
The survey highlights that only a small fraction of organisations feel fully prepared to withstand today’s sophisticated cyber threats. In the Caribbean, where digital adoption is rising and cross-island connectivity is increasing, the need for robust cyber resilience is more urgent than ever.
Tracie Greenidge, director, Risk Assurance, PwC East Caribbean, said: “As AI rises to the top of cybersecurity investment priorities, Caribbean companies have a powerful opportunity to lead with innovation and resilience.
With only six per cent of organisations globally considered ‘very capable’ of withstanding cyber-attacks across all vulnerabilities, our region must act decisively. By investing in smart technologies and fostering cross-island collaboration, we can build a secure digital future that protects our people, empowers our businesses and strengthens our global competitiveness.”
PwC study – Key findings
Cyber budgets on the rise: Nearly eight in ten organisations plan to increase their cybersecurity budgets, with a third expecting a 6–10% rise.
AI as a game changer: AI is the top priority for cyber investment, with 48% of security leaders focusing on AI threat-hunting capabilities.
Skills shortages: Half of respondents cite a lack of AI knowledge or relevant skills as the biggest challenge to implementing AI for cyber defence. Upskilling and reskilling are critical for the Caribbean’s digital workforce.
Quantifying cyber risk: More organisations are measuring the financial impact of cyber risks, with 50% now using risk quantification tools.
High cost of breaches: Over a quarter of businesses report data breaches costing at least US$1 million, underscoring the financial stakes for Caribbean enterprises.
Cybersecurity workforce shortages are a significant barrier to progress, especially as organisations in the Caribbean operationalise AI and secure increasingly complex environments, the study concludes. Nearly half of leaders in the survey cite a lack of qualified personnel as a top challenge in securing operational technology and industrial Internet of Things (IoT) systems. IoT now powers billions of devices for critical infrastructure, transport and industry.
(EJ)
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