New Global Research Shows That Digital Transformation Heightens Risks of Costly Cyberattack
ESI ThoughtLab has partnered with the Wall Street Journal’s WSJ Pro Cybersecurity, the Security Industry Association and a cross-industry coalition to release a global benchmarking study of cybersecurity at 1,300 companies; the researh shows that digital transformation is exposing companies to higher and more costly cyber risks. According to the study, companies whose cybersecurity practices do not keep pace with their digital transformation initiatives are more likely to see $1 million or more in losses from cyberattacks.
The research shows that cyber risks rise dramatically as companies embrace new technologies, adopt open platforms and tap ecosystems of partners and suppliers. While firms now report the biggest impacts from malware (81%), phishing (64%) and ransomware (63%), in two years they expect massive growth in attacks through partners, customers and vendors (247% growth); supply chains (+146%); denial of service (+144%); apps (+85%); and embedded systems (84%).
“As validated by SIA’s just-released 2019 Security Megatrends – highlighting the top factors influencing both short- and long-term change in the global security industry – security companies see cybersecurity as the dominant trend shaping the industry,” said SIA’s CEO, Don Erickson. “Having these clear benchmarks around cybersecurity not only facilitates the advancement of cybersecurity within our members’ own organizations, but it also allows the overall industry to deliver appropriate solutions for their customers.”
You can learn more in the full release and our complimentary thought leadership ebook, white paper and cybersecurity benchmarking tool. The SIA team and partners are available should you have any questions and/or need any additional information.