Cost of Healthcare Data Breaches Up 53% from 2020

IBM Security’s 2023 report shows that the global average cost of a data breach has increased by 15% over the last three years to $4.45 million in 2023. The most costly breaches involved customers’ personally identifiable information. The study found that the use of AI and automation in firms could significantly reduce the time and cost of dealing with a breach, while the involvement of law enforcement also helped reduce costs.