The threat landscape is evolving at an unprecedented rate, and with every breach, a company’s survival may be put on the line. It is imperative for business leaders and security professionals to better understand the threat environment and make informed decisions that protect business-critical data.
Both, CISOs and the business stakeholders, have the responsibility to address these emerging challenges. The business impact of security incidents and an evolving regulatory landscape have taken Board level cognizance, which is evident with the fact that a CISO is now getting ample support from the Board. This refers not only for the IT security budget, but also for getting the related manpower. The visibility of the CISO and the information security department is increasing in the Board and as a result, budgets are generally available with adequate reasoning. This is where we are seeing continued end-user spending for security products and services.
In such a scenario, enterprises are keen to adopt solutions and technologies which would help them to forecast and avert cyber security breaches in real time, which will only ensure that the industry witnesses numerous cyber security products claiming ML capabilities. Moreover, emerging technologies such as blockchain, IoT, Quantum Computing are disrupting the security technology landscape and offering unique use cases for innovation.
Ashutosh Jain, CISO, Axis Bank suggests that the plethora of emerging technologies are now so advanced that the real challenge lies in understanding and dealing with the complexity of the emerging technologies and the risks germinating from them.
According to Sameer Ratolikar, enterprises should develop the cyber security framework revolving around four pillars – Protect, Detect, Respond and Recovery. Each pillar further would have a list of controls. This framework would break down the siloed controls and give good visibility over the cyber kill chain. And this has to be backed by adequate organisation structure and a strong governance and measurement around it.
