Cybersecurity a board room imperative in nearly 50% of global enterprises: Infosys study

Infosys Knowledge Institute (IKI), Infosys’ global thought leadership and research arm, on Thursday unveiled market research titled, ‘Assuring Digital-Trust’. The research, aimed at understanding the current cybersecurity landscape and how enterprises are gearing up to safeguard themselves from evolving cyber threats, found that almost half (48 per cent) of corporate boards and 63 per cent of business leaders of surveyed enterprises are actively involved in cybersecurity strategy discussions. 

For this research, Infosys surveyed 867 senior executives representing 847 firms from 12 industries, with annual revenues over US$500 million across US, Europe, Australia and New Zealand (ANZ). What clearly stood out was how organisations are finding it challenging to embed security in their enterprise IT architecture, battling with a shortage of skilled workforce and are unable to keep up with technological advancements.

Key findings of the survey:

• Cybersecurity takes centre stage – across industries and geographies, 83 per cent enterprises view cybersecurity as critical
• Over two thirds of respondents have implemented a well-defined enterprise-wide strategy and roadmap
• The top concerns faced by enterprises are Hackers/Hacktivists (84 per cent), low awareness among employees (76 per cent), insider threats (75 per cent), and corporate espionage (75 per cent)
• Challenges in building a security aware culture combined with embedding security into design affects nearly two thirds of enterprises 
• To overcome security challenges, over half of the organisations are focusing on adopting integrated security solutions and are working with technology and service integrator partners. In addition, they are also following a series of ‘soft’ methods. These include training/certifications (61 per cent), enablement sessions (54 per cent) and creating security awareness among employees (51 per cent)
• Network segregation (65 per cent), threat intelligence platform (57 per cent), and advanced threat protection (55 per cent) are the top implemented security solutions
• Top trends that will shape the future of cybersecurity are Artificial Intelligence (41 per cent); Privacy and Personal Data Protection (35 per cent); Blockchain and Deception Technologies (33 per cent)
• Across industries, cybersecurity is consistently viewed as critical in an enterprise’s digital transformation journey. Manufacturing emerged at the top (87 per cent), followed by energy and utilities (85 per cent), and banking, financial services and insurance (83 per cent)

Vishal Salvi, Chief Information Security Officer & Head Cyber Security Practice, Infosys, said, “As enterprises continue to add new technologies to the business, it is crucial to defend themselves against a sophisticated threat environment. At Infosys, our approach is to embed cybersecurity at every stage of business, thereby minimising risk while maximising the visibility of the security landscape. Our relentless focus on innovation by studying newer technologies and methods, ensures we can better secure an enterprise’s business. We believe a holistic approach to cybersecurity is what it takes to instil digital trust in companies, and this research offers a good understanding of the current cybersecurity landscape. The insights, if applied appropriately can accelerate the cyber defence of enterprises.”

For a full copy of the report, please visit here.