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Report: Impact of Bad Software on US Economy Reaches $2.41 Trillion

Mount Equity Group Tokyo Japan > News > Markets > Report: Impact of Bad Software on US Economy Reaches $2.41 Trillion

A report published this week by Synopsys in collaboration with the Consortium for Information & Software Quality (CISQ) estimated that software quality issues might adversely impact the U.S. economy to the tune of $2.41 trillion in 2022.

Cybercrime losses due to a rising number of software vulnerabilities alone are on track to increase 42% in 2022 after growing 64% in 2021, according to the report.

More troubling still, the number of failures due to weaknesses in open source software components accelerated by an alarming 650% from 2020 to 2021.

Finally, the report estimated that overall technical debt would increase to $1.52 trillion in 2022.

Dr. Anita D’Amico, vice president of cross-portfolio solutions and strategy for Synopsys Software Integrity Group, said that despite these issues, there is cause for optimism. The silver lining is that more organizations are aware of software supply chain issues in the wake of a series of…

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