In the ever-evolving world of technology, cyber threats are becoming larger and more sophisticated. This trend is largely attributed to the rapid advancements in technology, the increasing skill level of cyber attackers, and the expansion of potential attack surfaces through interconnected systems and devices. According to Ivanti, a leading cybersecurity solutions provider, these factors are contributing to a dangerous cyber threat landscape in 2024.
Recent research conducted by Ivanti has revealed some concerning trends in cybersecurity. While cybersecurity budgets are on the rise, with 71% of organizations reporting an increase in budgets for 2024, the strategies and investments in security may not be keeping pace with the growing severity and pervasiveness of threats. This mismatch could potentially leave organizations vulnerable to cyber attacks.
One of the key findings from Ivanti’s research is the belief among 95% of IT and security professionals that security threats will become more dangerous due to artificial intelligence (AI). Despite this heightened risk, nearly one in three security and IT professionals do not have a documented strategy in place to address generative AI risks. This lack of preparedness could leave organizations exposed to AI-driven cyber threats.
In today’s digital landscape, Chief Information Security Officers (CISOs) are playing an increasingly critical role in organizations. The decisions they make regarding cybersecurity measures can have far-reaching impacts on the business as a whole. It is essential for CISOs to stay informed and proactive in addressing the evolving cyber threat landscape.
One area of concern highlighted in the research is the misunderstanding of vulnerability management among non-IT leaders. While 60% of non-IT leaders express confidence in their organization’s ability to prevent or stop security incidents, only 46% of IT professionals share that same level of confidence. This discrepancy suggests that leaders outside of IT may not fully grasp the risks posed by cybersecurity threats.
Additionally, a significant number of IT and security professionals believe that non-IT leaders do not fully understand vulnerability management. This lack of understanding can lead to misaligned priorities and potentially compromise the security of the organization. Effective communication and collaboration between IT and non-IT leaders are crucial in addressing cybersecurity challenges.
The research also highlights the importance of cybersecurity discussions at the board level. An overwhelming majority of organizations (86%) report that cyber risk management is a topic of discussion at the board level. Furthermore, 84% of organizations include their CISOs in high-level strategic meetings about business decision making and organizational planning.
In order to become strategic players in their organizations, security leaders must learn to communicate effectively with CEOs and board members. This involves translating technical knowledge into business priorities, such as the financial and reputational impacts of cyber attacks, as well as the legal and regulatory consequences of data breaches. By bridging the gap between technical expertise and business acumen, CISOs can better align cybersecurity efforts with organizational goals.
Overall, the evolving cyber threat landscape requires a proactive and collaborative approach from organizations. By investing in cybersecurity measures, fostering cross-departmental understanding, and elevating cybersecurity discussions to the board level, organizations can better protect themselves against the growing sophistication of cyber threats in 2024 and beyond.