Infosecurity Magazine reports that cybersecurity budgets' percentage of annual organizational spending has declined from 1.1% to 0.6% during the last two years, even though cybersecurity has provided $36 million for every enterprise-wide initiative having its involvement, indicating a lack of recognition for cybersecurity's ability to create value.
Only 13% of chief information security officers have been sought for advice early on in the decision-making process, while 58% expressed challenges in explaining additional value aside from risk mitigation, a survey from Ernst & Young showed. However, findings showed the existence of "Secure Creators," who were able to bolster business growth through the adoption of artificial intelligence, curbing possible ransomware-related losses, and evaluating new market risks early. "When CISOs are given a seat at the table early in strategic initiatives, they not only embed security into business planning from the ground up, but they add value by increasing speed of adoption and by building trust with consumers," said EY Global Cyber Risk and Cyber Resilience Lead Rudrani Djwalapersad.
Only 13% of chief information security officers have been sought for advice early on in the decision-making process, while 58% expressed challenges in explaining additional value aside from risk mitigation, a survey from Ernst & Young showed. However, findings showed the existence of "Secure Creators," who were able to bolster business growth through the adoption of artificial intelligence, curbing possible ransomware-related losses, and evaluating new market risks early. "When CISOs are given a seat at the table early in strategic initiatives, they not only embed security into business planning from the ground up, but they add value by increasing speed of adoption and by building trust with consumers," said EY Global Cyber Risk and Cyber Resilience Lead Rudrani Djwalapersad.
