Security, risk, and privacy leaders are facing numerous external and internal challenges as they seek to balance technical risks with regulatory compliance requirements. In 2025, EU regulators will issue their first fine against a generative AI (genAI) provider; a major IoT breach will disrupt a large class of devices; CISOs will deprioritize genAI due to lackluster outcomes; a Western government will bar third-party software; and the costs of breach-related class actions will surpass regulatory fines. This report explores Forrester’s five predictions for cybersecurity, risk, and privacy in 2025.