Organizations are increasingly leveraging artificial intelligence (AI) as a tool to combat sophisticated cyber attacks and become more resilient, according to Wipro Ltd’s annual state of cyber security report (SOCR) that presents changing perspectives of cyber security globally.
There has been an increase in R&D with 49% of the worldwide cyber security related patents filed in the last four years being focussed on AI and machine learning (ML), the report said. “Nearly half the organizations are expanding cognitive detection capabilities to tackle unknown attacks in their Security Operations Centre (SOC).”
The fourth edition of the SOCR saw a global participation of 194 organizations and 21 partner academic, institutional and technology organizations over four months of research.
Among the global macro trends, the report found that 86% of all nation-state attacks fall under “espionage” category and 46% of them are targeted towards private companies.
Evolving threat patterns have emerged in the consumer and retail sectors where 47% of suspicious social media profiles and domains were detected active in 2019 in these sectors. 70% of the organizations faced challenges in maintaining endpoint cyber hygiene and 57% in mitigating Virtual Private Network (VPN) and Virtual Desktop Infrastructure (VDI) risks.
Post covid, 87% of the surveyed organizations are keen on implementing zero trust architecture and 87% are planning to securely scale up their cloud migration.
14% of organizations have a security budget of more than 12% of their overall IT budgets indicating strong cyber security spend due to board oversight and regulations.
5G security is an emerging area for patent filing and 7% of the patents filed globally in the cyber domain in the last four years have been related to 5G security, the report said.
Vertical wise, 70% of banking, financial services & insurance (BFSI) enterprises said that new regulations are fuelling the increase in security budgets, with 54% attributing higher budgets to board intervention. In the communications sector, 71% of organizations considered cloud-hosting risk as a top risk.
86% of the consumer businesses said email phishing is a top risk and 75% enterprises said a bad cyber event will lead to damaged band reputation in the marketplace. 83% of the healthcare organizations cited maintaining endpoint cyber hygiene as a challenge while 71% have highlighted that breaches reported by peers has led to increased security budget allocation.
Get your CompTIA A+, Network+ White Hat-Hacker, Certified Web Intelligence Analyst and more starting at $35 a month. Click here for more details.