Cybersecurity Takes Center Stage in Board Rooms across US, Europe, Australia and New Zealand

Cybersecurity has become a board room imperative, with almost half of corporate boards across the US, Europe, Australia and New Zealand now actively discussing cybersecurity strategy, new research shows.

Countless analysts have advocated the concept of cybersecurity as a board room topic in recent years. According to an Infosys survey, it’s finally happening. The research shows 48 percent of corporate boards and 63 percent of business leaders are actively involved in cybersecurity strategy discussions.

The survey of 867 senior executives from 847 firms in 12 industries found that cybersecurity is finally taking center stage as a board room topic across industries and geographies, with 83 percent of enterprises viewing cybersecurity as “critical.”

Over two thirds of respondents have implemented a well-defined enterprise-wide strategy and roadmap as hacktivists and insider threats rank high on the list of concerns faced by global enterprises. Low awareness among employees and corporate espionage were also on the list, named by three quarters of those surveyed.

Two thirds of enterprises admitted experiencing challenges in building a security-aware culture and embedding security into design. To overcome security challenges, over half of the organizations focus on adopting integrated security solutions. The same companies are working with technology and service integrator partners to overcome these challenges.

The security solutions most implemented include network segregation (65 percent), threat intelligence platform (57 percent), and advanced threat protection (55 percent). The survey respondents are also following a series of ‘soft’ methods, like training/certifications (61 percent), enablement sessions (54 percent) and creating security awareness among employees (51 percent).

Asked to name the top trends that will shape the future of cybersecurity, 41 said artificial intelligence, 35 percent said privacy and personal data protection, and 33 percent listed blockchain and deception technologies.

Finally, researchers also found that cybersecurity is consistently viewed as “critical” in an enterprise’s digital transformation journey across every vertical surveyed, including manufacturing (87 percent), energy and utilities (85 percent), and banking, and financial services and insurance (83 percent).