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  • Writer's picturePaul Andrews

Increasing Cyber Attacks On Businesses

As organisations worldwide grapple with the ongoing challenges of securing remote workforces and combatting evolving cyber threats, HLB has released its annual cybersecurity report, Uniting People and AI: The future of cyber resilience, which shines a light on the pressing need for advanced security measures in the face of relentless cyber adversaries harnessing artificial intelligence (AI).

In a comprehensive survey conducted in August 2023, HLB gathered insights from 750 senior IT professionals, providing a current snapshot of the cyber-threat landscape and highlighting the proactive steps IT leaders have taken to bolster cyber-resilience. To ensure long-term protection, the report finds that organisations must focus on the three pillars of cyber-resilience: rapid response, regular training and comprehensive monitoring.

Jim Bourke, HLB Global Technology Advisory Services Leader, said: “Companies should be continually evaluating the solutions that they deploy to train and educate employees, ensuring that they are taking advantage of the latest technology to ultimately protect their organisation”.

Key findings include:

Improving Response Speeds To New Cyber Challenges

The advent of remote and hybrid work arrangements has amplified the urgency of cybersecurity. While 57% of IT leaders admit to not being initially prepared for the challenges of remote work, an impressive 88% managed to adapt their cybersecurity strategies effectively in response to the pandemic. Initiatives such as providing secure access through virtual private networks (VPNs), deploying secure cloud data exchange tools, and implementing regular cyber training have played pivotal roles in this transformation.

Cybersecurity And Awareness Training – Non-Negotiable

To cultivate a culture of high-security accountability, IT leaders should focus on changing core human behaviours through regular education and proactive coaching. While 87% of companies have some form of cyber training in place, only 18% have ongoing awareness programmes that include regular formal training, simulated phishing attacks, and consistent communication.

Comprehensive Monitoring For The New Landscape

AI is becoming increasingly integral to business operations, with 50% of business leaders identifying AI as the most important technology for their businesses in the next five years. However, AI, when in the wrong hands, poses new security risks. The rapid pace of technological innovation in AI, particularly generative AI, has raised concerns among 89% of business leaders. Recognising the gravity of AI-related risks, 34% express significant concern.

Abu Bakkar, HLB Chief Innovation Officer said: “While AI plays a pivotal role in cybersecurity, organisations should not place unquestionable trust in technology. Educating and managing human behaviour remains as crucial as ever. By combining technological innovations in cybersecurity with ongoing investment in people and processes, organisations can achieve the best security outcomes, solidifying their position as leaders in the industry.”

In this ever-changing cybersecurity environment, organisations must remain vigilant, adaptable, and proactive in their approach to safeguarding their digital assets.

Moreover, organisations should consider the implications of AI in both the threat landscape and potential solutions, while also recognising the need to educate and manage human behaviour in the context of evolving technology. By combining technological innovations with investments in people and processes, organisations can strive for optimal security outcomes in this dynamic cyber landscape.

Download and read a full copy of the report below:

Download PDF • 3.07MB

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