Investment In Cybersecurity: Indicators And Priorities For CIOs

Investment In Cybersecurity: Indicators And Priorities For CIOs

Cyberattacks have evolved in tandem with the pandemic and remote work, leading to a significant increase in these types of threats. He continues reading and discovers how companies are going to face this challenge in 2022, through an intelligent distribution of their budget, which will be based on the lessons learned from the last two years.

CIO’s skills have been put to the test in recent years, as they have had to come up with new structures in IT departments based on the digital acceleration that companies experienced globally, while facing an increase in digital threats. They came for the same reason.

The premise is that the decisions of CIOs are the starting point to define the profitability and success of organizations, hence the importance of drawing a route that defines a technological strategy according to its scope, general objectives and particular needs.

COVID and remote work: the main indicators

Did you know that COVID-19 represented a great window of opportunity for cybercriminals? A vast majority of these cyberattacks used false information about COVID-19 to achieve their goals, through phishing and ransomware

Just analyze some of the data from PwC’s “Cyber ​​Threats 2020: Global Threats Report” report:

  • Ransomware was the number one cyberattack threat in 2021
  • Cyberattack actors (both criminal and espionage) used news about the coronavirus to entice recipients to “click” malicious links to download threatening content.
  • Supply chain attack continued to be a major attack mechanism in 2020, with several high-profile incident

Cyber ​​threats have quickly adapted to a new environment where information travels quickly on the Web, to the security breaches that remote work brings, as well as information leaks and poor device protection. It should also be noted that these digital attacks are more sophisticated and keep pace with the advancement of technologies such as artificial intelligence

Aware that hybrid and remote work is a necessity, CIOs have also adapted to this phenomenon and the new scenario that it unleashes, even with the negative consequences that this fact can mean in terms of cyber security.

Budget for cybersecurity: a priority for CIOs

A cybersecurity strategy implies a deep analysis of learnings and objectives.

In this regard, the consulting firm Gartner estimates that investment this year worldwide will amount to 172 billion dollars (compared to 155 billion in 2021 and 137 billion in 2020), of which almost 77 billion will be they will allocate to security services , 30 billion to protection of the infrastructure; 19 billion to security and network equipment, and 17 billion to identity and access management.

Other areas getting big budgets include application security, integrated risk management, data security, software, and cloud security.

These latest data reveal the concern of CIOs to have an adequate security architecture to avoid exposing their critical assets and business continuity, since, as emerging technologies advance, vulnerability can be even more evident.

In this regard, Gartner also points out that by 2025, 60% of organizations will use cybersecurity measures as a determining factor when choosing who to do business with

Also Read : The CIO And Its Benefits In The IT Industry

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