'Cybersecurity is a critical part of digital business with its broader external ecosystem and new challenges in an open digital world. 60% digital businesses to face service failures by 2020,' said Paul Proctor, Vice President and Distinguished Analyst at Gartner, in a statement on Monday.

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`Organisations will learn to live with acceptable levels of digital risk as business units innovate to discover what security they need and what they can afford. Digital ethics, analytics and a people-centric focus will be as important as technical controls,` he added. 

According to Gartner as organisations transition to digital platforms, a lack of directly owned infrastructure and services outside of Information Technology`s (IT) control will need to be addressed by cybersecurity. 

Gartner has identified five key areas of focus for successfully addressing cybersecurity in digital business -- leadership and governance, the evolving threat environment, cybersecurity at the speed of digital business, cybersecurity at the new edge, people and process.