Almost every day we hear about a new data breach. They happen everywhere, from small startups to huge, globally recognized companies. No one, it seems, is safe from the growing threats of hacking and cybercrime. The data revolution has escalated the problem as well, with more and more sensitive information residing in the cloud, tantalizingly close for anyone with the tech know-how to crack the encryption or break through a firewall. Companies need better cybersecurity strategies, but building a secure technology environment isn't as straightforward as it used to be.
Cybersecurity now is a different animal from the strategies most companies used just ten years ago. Defensive strategies based on network management have become less practical with decentralized networks that include Internet of Things technology and Bring Your Own Device policies. Each device or object that connects to the network comes with a potential for new threats.
Companies are vulnerable, and they know it. One study found that 63% of CEOs are concerned about cyber threats. That’s higher than the percentage concerned about over regulation, geopolitical uncertainty, or terrorism. Another report indicated that a whopping 82% of IT decision makers are concerned about a shortage of cybersecurity skills. At the same time, however, companies also worry about losing competitive advantage to competitors with better technology, so they keep investing in new technology capabilities like machine learning, AI, and IoT even as their IT teams scramble to provide adequate cyber protection.
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