FINAL WORD future security enhancement . Data security remains a top priority . For example , per an analyst report released at RSA Conference 2024 , almost two-thirds of organisations plan to increase their spending in this area in 2024 . By balancing these short-term and longterm strategies , CIOs can create a robust and adaptive cybersecurity posture .
Patrick Spencer , VP , Kiteworks
Could you provide insights into the ROI ( Return on Investment ) metrics that CIOs should focus on when evaluating the effectiveness of their cybersecurity investments ?
Thus , CIOs must ensure comprehensive data protection strategies , including next-gen digital rights management for tracking and controlling sensitive content , are in place .
Another misconception is the belief that traditional security measures are sufficient to combat modern threats . Organisations must employ advanced security solutions , such as AI and Machine Learning , to enhance threat detection and response capabilities . Failing to adapt to evolving threats can leave organisations vulnerable .
CIOs also often underestimate the complexity of
managing third-party risks . With 15 % of breaches linked to the supply chain per the DBIR , robust vendor risk management is essential . By addressing these misconceptions and focusing on comprehensive data protection , integrating advanced technologies and managing third-party risks , CIOs can make more informed cybersecurity investment decisions .
Given the ever-evolving nature of cyberthreats , how do you recommend CIOs approach the challenge of balancing short-term security needs with long-term strategic investments ?
CIOs should adopt a dual approach that addresses immediate threats while building a resilient long-term security framework . In the short term , deploying a hardened virtual appliance to secure sensitive data in transit and at rest is critical . This can be achieved using advanced encryption and secure communication channels . Long-term investments should include comprehensive digital rights management ( DRM ) to ensure continuous tracking and control of sensitive information while ensuring sensitive content never leaves the organisation .
Leveraging AI and Machine Learning for enhanced threat detection and response can also provide immediate benefits while laying the groundwork for
When evaluating the effectiveness of cybersecurity investments , CIOs should focus on several key ROI metrics to ensure that their strategies are both costeffective and impactful . One critical metric is the reduction in CapEx costs through consolidation . By integrating security tools and platforms , organisations can reduce overheads , streamline operations and cut expenses related to managing disparate systems . This approach not only lowers capital expenditures but also improves operational efficiencies .
Consolidation also enhances security by providing unified visibility and management . For instance , consolidated log reports enable more effective monitoring and faster detection of anomalies , thus reducing the risk of breaches . Improved security through better integration directly correlates with reduced incident response times and lower overall risk .
Another important ROI metric is the reduction in breach-related costs . By investing in advanced security measures , such as AI-driven threat detection and comprehensive digital rights management ( DRM ), organisations can significantly lower the likelihood and impact of data breaches .
Leveraging AI for better ROI can also be significant . AI-powered solutions enhance threat detection and response capabilities , making security operations more efficient and effective . The new Darktrace AI Report highlights that 96 % of security professionals believe that AI-driven security solutions significantly improve the speed and efficiency of prevention , detection , response and recovery .
Ensuring that third-party partners adhere to strong security practices can help mitigate these risks .
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