- Report finds that AI-driven threats are evolving faster than businesses can keep up
- Organizations use countless dashboards and security tools, adding to the confusion
- Simplification starts with one “trusted” data source
Amidst the wave of rising cyber threats, two in three (65%) security leaders fear they will be blamed in the event of a major breach, making the role less desirable and potentially even leaving many companies struggling to fill roles.
New research from Panaseer found that the average cyber incident cost per affected business is $14 million annually, which is 73% of their security budget – a budget that clearly failed them in the first place to fall victim to attacks.
With increasingly complex systems, Panaseer found that three out of four attacks exploited multiple control flaws, with nearly two-thirds reporting that attackers bypassed controls that they believed should have prevented the breach.
The CISO role is no longer as appealing
The landscape is further compounded by an increase in AI-driven threats – more than three-quarters (77%) worry that these are evolving faster than teams can respond.
As it currently stands, organizations use an average of 61 security tools and 58 dashboards, perform or respond to 28 audits annually, which take an average of eight days to prepare.
“The complexity of the IT landscape, the proliferation of cyber tools and rapidly evolving threat environment, compounded by growing regulatory requirements, make it very difficult to achieve even basic hygiene,” noted CEO Jonthan Gill.
While 77% agree that traditional tools don’t fit today’s threat landscape, it appears that more isn’t better either – many report costly delays in audits or fail to prove control effectiveness to management.
“For CISOs, it’s a case of water, water everywhere, but not a drop to drink,” Gill added. Panaseer calls for widespread simplification, starting with a “single, trusted source of ground-truth data” and dashboards that speak the language of stakeholders and auditors.
“Without this, security teams can’t track controls and progress; companies can’t understand risks; and companies will continue to lose millions due to preventable breaches.”
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