Cybersecurity tools and applications have improved in recent years in their sophistication, speed and effectiveness. This is driven in part by significant investment, with US$1.3 trillion invested in cybersecurity between 2010 and 2022, growing at a compound annual rate of 16.6%, according to Pitchbook.
The study reveals that a wave of new technology implementation is coming, with 84% of organizations in the early stages of adding two or more new technologies to their existing suite of cybersecurity solutions. But ironically, it’s the very scale and complexity of security measures that now pose the greatest threat to efficient cybersecurity because it limits visibility. “The more clutter you have in your technology environment, the harder it is to pick up signals and get on top of issues quickly,” says Richard Watson, EY Global and EY Asia-Pacific Cybersecurity Consulting Leader.
Consolidating technology into a single platform and reducing the number of vendor products eases integration, allows telemetry to flow to the surface more easily, and helps security teams spot incidents more efficiently.
CISOs need to transform how cybersecurity technology is introduced across the enterprise, developing a holistic technology strategy that rationalizes existing systems and addresses the cybersecurity needs of emerging business imperatives such as cloud and ecosystem partnerships and makes full use of automation. Secure Creators follow this approach.
While 70% defined themselves as early adopters of emerging technology, they are focused on advanced solutions to simplify their environment, in particular by harnessing automation. They are more likely to use or are in the late stages of adopting artificial intelligence or machine learning (AI or ML) (62% vs. 45%) and Security, Orchestration, Automation and Response (SOAR) (52% vs. 37%). This gives them a seamless, organization-wide defense, and a clear line of sight to cybersecurity incidents.