blog post

Digital transformation is not slowing down

Inflation, innovation, volatility and instability do not slow it down. 
As long as the S&P 500 continue to report record levels of productivity as they did in 2022, no business will get off this train.
However, if we were inclined, which we’re not, to map that growth to the increases in cyber-crime over the same period, what we would find is a direct correlation between digital adoption and successful breaches.

But one that heads in the wrong direction.
We would find an inverse curve mapping as a correlate but in a reverse arc against cybersecurity spend, 
appearing to increase in direct correlation with our spending increases. And, we would see that the more we spend, the greater the incline.

Why this apparent discrepancy?
(Speed + Complexity) – (Trained Resources + Budget Ceilings)

While investment in digital transformation continues to accelerate in enterprises despite inflation, market volatility and geopolitical instability, investment in human resources, training and foundation technology continues to lag. 
With the S&P 500 still recording historically high levels of profitability, these corporate leaders are driven to invest in further automating and transforming their operations with new technologies and greater cloud adoption.

Unless and until it becomes clear that their Cybersecurity teams are not capable of dealing with threats and vulnerabilities in enabling technologies, 
broken authorization processes, insufficient logging and monitoring and systems with overtly permissive allowances, 
complex hybrid cloud and container configurations, and exposed and compromised APIs will continue to create high risk Cybersecurity environments.

CISOs know what messaging is required, but need help in framing.

According to the 2023 Thales Data Threat Report, survey respondents claim the greatest risks in cloud operations are infrastructure compromise (67%) and third-party risk (50%). 
Complexity remains a top barrier to securing MultiCloud environments for the third year in a row. The number of respondents who “agree” or “strongly agree” that it’s more complex to maintain privacy and data protection regulations in the cloud has grown from 46% to 50% to 55% in 2021, 2022 and 2023, respectively.

In the shadow of new geopolitical realities, digital sovereignty and privacy have emerged as top concerns that data management technologies must address. 
Three-fourths of respondents have security concerns about new technologies such as 5G (77%). Risks from existing threats also continue with 48% of respondents saying ransomware attacks are still increasing. 
And they’re right.

Author

Steve King

Managing Director, CyberEd

King, an experienced cybersecurity professional, has served in senior leadership roles in technology development for the past 20 years. He has founded nine startups, including Endymion Systems and seeCommerce. He has held leadership roles in marketing and product development, operating as CEO, CTO and CISO for several startups, including Netswitch Technology Management. He also served as CIO for Memorex and was the co-founder of the Cambridge Systems Group.

 

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