In the rapidly evolving digital landscape, IT leaders must understand how to protect businesses from cybersecurity threats and enable growth. Technology offers many far-reaching benefits that can help business leaders achieve peace of mind, but insufficient technology use can impact growth opportunities and derail security.

By focusing on compliance requirements, plugging security gaps and using AI tools to their advantage, IT leaders can stay on top of both old and new challenges, adapting smoothly to the rapidly evolving technology landscape.

The cybersecurity cycle

The cyber threat ecosystem is as dynamic as it is dangerous and cybercriminals are constantly developing new ways to breach security measures. Industry experts advise businesses to have proven backups and not pay a ransom if they fall victim to an attack; however, many organizations are being seen to pay the ransom, relying on insurance to cover the cost.

While cyber insurance is not solely responsible for the increase in ransomware attacks, it has contributed to the problem's persistence rather than demise. Instead, if IT leaders were to take more effective preventative measures, the issue could be avoided altogether; understanding these threats is key to formulating a robust cyber defense strategy.

Often referred to as the weakest link in security, the most prominent cyber risks come from employees. According to a recent Mimecast report, 74% of breaches are caused by human error, with email remaining as the number one attack vector. Also, online collaboration tools such as Google and OneDrive can be potential on-ramps for malicious organizations.

These gaps still need to be addressed; therefore, it is crucial to not only regularly update and monitor security protocols but to also identify at-risk individuals and provide them with better training to improve their security awareness. For businesses seeking to create a cyber-resilient environment, a well-trained workforce can make all the difference.

Companies should also implement automated security measures to detect and block any suspicious activity. This will prove essential when sharing sensitive documents. A risk management process like this can allow organizations to identify, protect and withstand cyber-attacks.

Compliance and security are two sides of the same coin

Many businesses are often too quick to dismiss the importance of compliance and mistakenly assume that it leads to a diminished focus on security; however, compliance and security go hand in hand. While some breaches are malicious, most are accidental and occur when employees do not follow defined company policies and procedures.

The most obvious consequences of non-compliance are financial penalties and the inability to trade, but other more far-reaching consequences can impact various other aspects of the business. A cyber security breach can permanently damage your company's reputation leading to a lack of trust with customers – has their personal information been compromised and should they rescind their trust?

Businesses must move beyond a myopic focus on traditional cyber security threats and consider anticipating and then recovering from a cyberattack. Adopting a compliance framework can help to achieve this, including having an IRP (Incident Response Plan) in place.

By ensuring the correct framework is in place, organizations can implement procedures for workers to follow. This will reduce the likelihood of a breach, protect your data, your reputation and your finances.

However, applying this protection requires more than just a “fit and forget” approach as cybersecurity threats, by their very nature, are constantly changing. Navigating attacks requires continual vigilance; by mandating regular assessments and vulnerability testing, businesses can identify and address areas where protections are weak and continually update their security framework while improving their security posture.

Ensuring that AI is aligned with strategy and objectives

Another fundamental issue facing businesses in 2024 is ensuring that the use of AI is aligned with their overall strategy and objectives. Not all AI will be specifically tuned to each business's requirements, therefore it is essential to choose a solution built to enhance existing business operations, otherwise, IT leaders risk creating even more confusion in an increasingly complicated ecosystem.

AI and other buzzwords can sometimes be just that—buzzwords. Therefore, taking a step back to assess your business needs and security requirements can be vital when choosing the optimal solution. The focus should be on something other than whether the solution is the latest technology on the market or is AI-enabled, but on the solution that best meets your specific business needs.

There are two ways in which we can approach artificial intelligence. The first one is to use the technology to make informed decisions. By analyzing large data sets and finding patterns, AI can help improve operations and make predictions based on that data. Secondly, AI can be used to automate daily tasks, including security, reducing cognitive overload. In doing so, businesses can significantly reduce human error, improve accuracy and increase overall efficiency.

Without the right AI solution, IT leaders risk creating more friction and blocking workflow. Therefore, the chosen solution must integrate with workflows and streamline existing processes. If used correctly, AI tools will allow businesses to do more with less and workers can expend less energy to reap greater rewards.

As data becomes increasingly important, holding greater value to the business, policing how that data is handled and secured is vital to ensuring long term prosperity. A fragmented business ecosystem can cause problems, but addressing compliance and security concerns early on will provide workers with an innovative and security-friendly environment in which to operate.

With the added advantage of a solution-orientated AI tool, businesses will improve productivity, efficiency and potential cost savings.

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