Another Gartner report out today and this one is rather scary. In a report titled ‘Cybersecurity at the Speed of Digital Business‘, Gartner analysts have predicted that – by 2020, over 60 per cent of digital businesses will suffer major service failures due to the inability of IT Security firms to manage and reduce digital risk to data.
According to the report, as business transition from physical entities into digital businesses, we will be faced with a lack of infrastructure and services outside of the IT departments control will need to be addressed by cybersecurity experts. Over 70 per cent of digital business professionals think that cybersecurity has impeded their appetite for innovation and kicked them out of competition.
Paul Proctor, vice president and a distinguished analyst at Gartner says,
Cybersecurity is a critical part of digital business with its broader external ecosystem and new challenges in an open digital world.
Organizations will learn to live with acceptable levels of digital risk as business units innovate to discover what security they need and what they can afford. Digital ethics, analytics and a people-centric focus will be as important as technical controls.
He further adds that, there is no such thing as perfection and we need to build a sustainable program that balances the need to protect it against the needs to run the business. The impact of the business has more likelihood to earn you value if you start thinking of in terms of Good or Bad risk, rather than label it as a high/low risk factor.
In the special report, Gartner has also identified five key focus areas for successfully addressing cybersecurity in up and coming digital businesses:
- Leadership and Governance should be improved upon and considered more important than developing technology tools and skills when addressing cybersecurity. Decision-making, prioritization, budget allocation, reporting are the key attributes of a successful digital business.
- The Evolving Threat Environment requires IT risk and security leaders to move away from trying to prevent every threat and acknowledge that perfect protection is not achievable. Gartner predicts that by 2020, 60 percent of enterprise information security budgets will be allocated for rapid detection and response approaches, up from less than 30 percent in 2016.
- Cybersecurity at the Speed of Digital Business means that digital businesses are growing at a pace faster than traditional businesses, and traditional security approaches won’t work in the era of digital innovation. IT security leader must assess and transform their programs to become digital businesses and innovators.
- Cybersecurity at the New Edge has pushed far beyond the data center into operational technology, cloud, mobile, SaaS and things. According to the report, over 25 per cent of the corporate data will flow from mobile devices to the cloud bypassing enterprise security protocols by 2018.
- People and Process: Cultural Change is now critical to address behavior change and engagement — from your employees to your customers. Cybersecurity must accommodate and address the needs of people through process and cultural change. People-centric security gives each person in an organization increasing autonomy in how he or she uses information and devices — and what level of security adopted when he or she uses it.
Amore detailed account of the report can be found here.