The new cybersecurity benchmarking survey “Cybersecurity Solutions for a Riskier World” by research firm ThoughtLab, co-sponsored by ServiceNow finds nearly half of CIOs are concerned about their cybersecurity defences. The research aimed at identifying the potential solutions to the growing menace of cyberattacks.
The survey spans 1,200 organisations and 16 countries. The executives polled came from 14 different industries, including the public sector, and spanned CEOs to CISOs and their direct reports.
The largest group surveyed was financial services.
30% of executives say their budgets are inadequate to ensure cybersecurity
ThoughtLab Survey
Over 50% of executives think the growing use of partners and suppliers exposes them to major cybersecurity risks
Automation as an enabler for CyberSecurity
There are obvious advantages to automation including speeding up time to value, doing more with less relieving security experts’ time to focus on critical issues leading to higher workforce satisfaction and possible talent retention.
As enterprises battle a growing number of cybercrimes, they need to prepare for increasingly sophisticated AI-driven cyberattacks, experts have opined.
While AI is improving the ability to detect cybersecurity threats, bad actors are also upping the ante.
The Cybersecurity talent imperative
The report noted global shortage of skilled cybersecurity professionals is one of the biggest cybersecurity challenges that enterprises face today.
“Organisations that are advanced in cybersecurity generally have larger IT, OT, and cybersecurity staff. Their cybersecurity specialists represent a larger share of their IT staff than at other organisations”.
Australia needs 7,000 Cybersecurity professionals by 2024
EY
The latest report from the Australian Cyber Security Centre highlighted the cybersecurity skills shortage in Australia. Read more about this here: Cybersecurity Skills Shortage in Australia – Need 7,000 Professionals by 2024: EY
The report noted no sector of the Australian economy was immune from the impacts of cybercrime and other malicious cyber activity. And the talent shortage is going hand in hand with the increasing number of cyberattacks in the region.
Around 85% of Cyber Security leaders in Australia think outdated security approaches are failing in the face of modern threats. Only 40% were confident their security tools would protect them against sophisticated attacks.
More to come
