- 96% of enterprise executives say they are adjusting their cybersecurity strategies due to Covid-19 and half are now considering cybersecurity in every business decision.
- 71% plan to incorporate cybersecurity, including early detection of cyber risks, more into their company-wide enterprise risk management strategies according to PwC.
- 55% are seeing their cybersecurity budgets increase in 2021 over 2020, with more automated, adaptive cybersecurity being the goal for this year.
- 451 Research shows a 19.2% jump in adaptive cybersecurity capabilities in the next two years, leading all categories in a recently published Autonomous Digital Enterprise (ADE) Competitive Index, commissioned by BMC Software.
The first three above and many other fascinating findings are from PwC’s 2021 Global Digital Trust Insights: Cybersecurity Comes of Age. PwC’s latest research is noteworthy in its findings of how cybersecurity needs to become more adaptive using new technologies, including artificial intelligence, machine learning, behavioral analytics, multi-factor authentication, crowdsourcing and security-integrated DevOps (DevSecOps). Based on interviews with 3,249 business and technology executives worldwide, the research reflects how cybersecurity is more of a business than a technology decision. Please see page 40 of the study for the methodology. Key insights from the study include the following:
- Adaptive Cybersecurity strategies deliver the greatest gains in large-scale enterprises with annual revenues of $10 billion or more, according to PwC’s study. Executive respondents from the world’s largest companies say that they’re seeing gains in their integrated use of security models and technologies, including Zero Trust, Managed Services, virtualization and accelerated cloud adoption. The following graphic compares the relative levels of adoption and benefits gained from technology, architecture and automation implementations across all enterprises interviewed by PwC for its Global Digital Trust Insights survey.
- 40% of all executives PwC interviewed plan to increase their resilience testing in 2021 to ensure core business functions stay up and running. The majority expect five types of cyber-attacks to dominate 2021. A foundational element of Adaptive Cybersecurity is ensuring the continued resiliency of an enterprise to continue serving customers and generating revenues in the process. Enterprise executives managing cybersecurity spending and budgets predict five types of events will dominate this year’s cybersecurity landscape. They include cyberattacks on cloud services, ransomware breaches, disruptionware attacks on critical business services, state-sponsored attacks on critical infrastructure and major disinformation campaigns. The following graphic compares the scaled impact by scaled likelihood based on respondents’ perception of relative risk.
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The PwC Global Digital Trust Insights: Cybersecurity Comes Of Age survey found that executives who own IT and cybersecurity budgets plan to rely on Adaptive CyberSecurity to guide business decisions more than ever before. Fifty percent of all executives say cybersecurity and privacy will be backed into every business decision or plan in 2021 and 44% are creating a new process for cybersecurity budgeting and appending. Forty-four percent also say they are pursuing a more granular quantification of cyber-risk this year.
Adaptive Cybersecurity Leads 451 Research’s New ADE Index
Further validating PwC’s prediction that 2021 will be the year of Adaptive Cybersecurity, BMC recently published preliminary research associated with its Autonomous Digital Enterprise Index, conducted by 451 Research, which reflects the high priority enterprises are placing on this area. Presented during the BMC Exchange virtual session, Is Your Organization Ready: ADE Competitive Index, the following graphic compares the current two-year index and net increases in each index value. Adaptive Cybersecurity leads all other index values with the largest percentage gain over two years.
Interested in understanding why the new ADE Competitive Index shows Adaptive Cybersecurity leading, I attended the virtual session hosted by Herb VanHook, Vice President, Enterprise CTO Services, BMC Software and Carl Lehmann, Principal Analyst, Automation & Integration at 451 Research, an S&P Global company. Their presentation of the Index highlighted the evolution of security functions that can automatically sense, detect, react and respond to access requests or threats, authenticate needs and meet regulatory requirements. They also explained how Adaptive Cybersecurity creates a comprehensive security presence through artificial intelligence, machine learning, behavioral analytics, multi-factor authentication, crowdsourcing and security-integrated DevOps (DevSecOps).
Being Digitally Competitive Starts With Adaptive Cybersecurity
BMC was prescient in including Adaptive Cybersecurity in its ADE framework. 2020’s rapid increase in breaches and the severity of the SolarWinds hack have made Adaptive Cybersecurity even more of a priority today.
To create the ADE Competitive Index, 451 Research interviewed over 1200 senior executives. When it came to Adaptive Cybersecurity, 76% of senior executives say it’s a must-have for digital competitiveness. 44% say it’s essential and 32% consider it very important. What is fascinating about the survey results shown below is how advanced enterprises are already on Adaptive Security, with 13% saying they are Autonomous today and 25% planning to be in two years – the largest percentage gain across all organizational approaches to Adaptive Cybersecurity.
The PwC 2021 Global Digital Trust Insights research and 451 Research’s new ADE Competitive Index reflect how Adaptive Cybersecurity is a high priority across all organizations today. PwC finds that enterprises with $10 billion in revenue or more are the fastest adopters of a more adaptive approach to cybersecurity, reporting they see results already from their efforts. BMC’s study, in collaboration with 451 Research, shows that integrating Adaptive Cybersecurity across the five core tenants of the BMC Autonomous Digital Enterprise (ADE) is essential for digital competitiveness today. By taking action on Adaptive Cybersecurity, how best to protect any enterprise becomes clearer and more focused on balancing security and operations. At a minimum, Adaptive Cybersecurity needs to focus first on combating internal and external threats, improving control access, managing cloud security, securing infrastructure with more resilient endpoints while meeting and excelling at regulatory, government and customer-driven compliance requirements.