Kyndryl released findings from its global Cyber Gauge 2024: Navigating the complex cybersecurity landscape survey, conducted with Amazon Web Services (AWS). The results reveal a disconnect between perceived and actual cyber readiness among global enterprises. This underscores the critical need for more robust cyber resilience strategies that protect against threats and ensure business continuity.
Despite 94% of organisations feeling prepared to mitigate cyberattacks, 71% believe they are likely to experience a disruptive incident within the next year that will impact their financial performance. This disconnect highlights the need for improved awareness and enhanced measures to handle sophisticated cyber threats.
Key findings highlight the challenges of the cyber threat landscape that organisations face:
- Evolving threat landscape: 52% of IT leaders are grappling with operational challenges like preparing for emerging threats such as nation-state and generative artificial intelligence (AI) attacks. Securing hybrid cloud environments (47%) and managing the complexity of operating multiple security solutions (42%) were also top concerns.
- High frequency of attacks: Over the last year, 54% of large organisations reported experiencing a cyberattack that disrupted IT systems or data. Of those, 61% faced four or more attacks.
- Inadequate executive support: A significant 69% report a lack of support from business leaders for necessary security measures. Even greater, 73% indicated board-level disinterest in security readiness.
- Lack of alignment in regulatory preparedness: Despite 94% confidence in handling changing regulatory dynamics as regulatory pressures continue to increase on organisations to improve overall cyber resilience, 77% struggle with security and other risk-mitigating team alignment, and 72% lack clear business continuity roadmaps.
- Organisational constraints: 54% of organisations noted that remote work continues to strain their security teams, while cybersecurity budget restrictions (43%) and security skills shortages (43%) were also top challenges.
- Industry-specific challenges: Retail (61%), manufacturing (57%), and chemicals, oil, and gas (56%) sectors reported the highest incidence of cyberattacks. Government organisations experienced the highest frequency, with 74% reporting four or more attacks.
“The survey findings reveal a complex cyber threat landscape where businesses face persistent threats despite feeling prepared,” said Kris Lovejoy, Global Security & Resiliency Practice Leader, Kyndryl. “With more than half of organisations experiencing disruptive incidents in the last year, it is imperative that businesses make cyber resilience a board-level priority. Achieving this is not a one-time effort but an ongoing commitment to safeguarding our digital future.”
“As cyber threats continue to evolve, the gap between perceived readiness and the reality of ongoing cyber risks is widening; cybersecurity investment is essential to combat this,’’ said Pieter Bil, Senior Vice President and Managing Director of Kyndryl Middle East and Africa. “Beyond cybersecurity, the survey also highlights immense opportunities to harness AI and advanced technologies, driving innovation and sustainability. We’re here to ensure our customers are not only prepared but also positioned for long-term success in today’s digitised world.”
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