Cyber risk refers to the potential for loss or damage resulting from cyber attacks or data breaches. This includes threats to sensitive information, such as personal data or financial records, which can be exploited by hackers or malicious software. Organizations face various cyber risks, including phishing, ransomware, and unauthorized access to their systems. To manage cyber risk, businesses often implement security measures like firewalls, encryption, and employee training. Additionally, they may conduct regular assessments to identify vulnerabilities and ensure compliance with regulations. Understanding and mitigating cyber risk is essential for protecting both organizational assets and customer trust in the digital age.