A new report by Deloitte said that Canada is severely lacking cyber security talent , and shortage of talent is not being addressed enough by universities and colleges.

Deloitte says that demand for cyber security professionals is climbing up by a rate of 7% annually with 5,000 of roles expected to be filled by 2021.

Deloitte said that total cyber security employment around the world by 2022 will be around 1.8 million.

This shortage needs to be fixed as soon as possible report states, due to pace of global technological innovation by more than $3 US trillion are expected in lost economic value in 2020 if not addressed.

The world is on pace to reach a cybersecurity talent shortage of 1.8 million workers by 2020. How should business, universities, and governments work together to solve this staggering talent shortage? https://t.co/tmTxKHvi5v

— Howard Yeung (@howardhyeung) July 9, 2018

Report states that universities and colleges in Canada are trying to address the shortage but find themselves in a tough spot as there are not enough qualified professors and instructors.

Deloitte recommends hiring consultants to address the demand, keep up with rising pay, and increase recruitment efforts by using recruitment agencies or consultants to help with hiring.

Report concludes

“For the foreseeable future, Canadian businesses, educational institutions, and governments that look at the cyber talent shortage through a human-centric lens, and take bold and deliberate steps to overcome the challenges will push ahead of their peers.”