A recent survey conducted by KPMG, a leading audit, tax, and advisory firm, sheds light on the perspectives of C-suite cyber leaders regarding the effectiveness of their defences amidst a rising tide of cyber attacks. Despite a significant percentage (40%) reporting recent cyberattacks leading to security breaches, many express optimism about the robustness of their security measures.
The survey, encompassing 200 C-suite cyber leaders from companies with revenues exceeding $1 billion, underscores concerns over the escalating sophistication of cyber threats, particularly among those who have encountered attacks within the past year. Organised cybercriminal groups, insider threats, and individual hackers rank among the top concerns voiced by security leaders.
Interestingly, even among those who experienced recent cyberattacks, confidence remains high in the oversight and readiness of Security Operations Centres (SOCs). Most respondents express confidence in their SOC’s understanding of risk areas, readiness to combat sophisticated attacks, and visibility across organisational vulnerabilities.
Moreover, the survey highlights the pivotal role of artificial intelligence (AI) in bolstering cybersecurity defences. With two-thirds of security leaders emphasising the importance of AI-based automation in thwarting emerging threats, AI is heralded as a “game changer” across various security functions, including identity management and anomaly detection.
However, challenges persist, including concerns regarding the reliability of AI recommendations, potential job displacement, and cultural shifts necessitated by AI adoption. Operational issues such as security fatigue, monitoring complexities, and threat severity determination also pose significant hurdles for security leaders.
Despite these challenges, there is an expectation among SOC leaders for increased resources in the coming years to address cybersecurity priorities. Anticipated expansions in headcount and budgets underscore organisations’ commitment to enhancing cybersecurity resilience and adapting to the evolving threat landscape.
Matt Miller, Principal of Cyber Security at KPMG, also emphasised the importance of addressing identified challenges to ensure the effectiveness of cybersecurity defences amidst the dynamic digital environment.
