Cybersecurity Risk Management and Innovation in Small and Medium-Sized Enterprises (SMES) In the U.S.: Strategies for Enhancing Cyber Resilience Through Technology and Policies

ABSTRACT: This article explores the increasing cybersecurity risks and challenges facing small and medium-sized enterprises (SMEs) in the United States. It highlights the critical need for a strong cybersecurity risk management strategy. The role of technological innovations such as Artificial Intelligence (AI), Machine Learning (ML), Cloud Security, Blockchain etc., has been examined and assessed in the policy frameworks available to SMEs, in particular the NIST Cybersecurity Framework and Cybersecurity Insurance technology policy through the use of quantitative data from industry reports and surveys to propose strategies to strengthen cyber resilience. The research articles analyze trends, costs, and benefits associated with the adoption of new technologies and policies, ultimately providing actionable insights to improve cyber security resilience in this area.