Optimising Cyber Resilience in an AI-Driven World | Andrew Milroy, VP and Head of Research at Focus Network
In an ever-evolving technological landscape, executives increasingly recognize the importance of community engagement to tackle common challenges.
The Focus Network’s CISO Executive Society offers a platform for CISOs to gain fresh insights on cybersecurity best practices and network with peers. Membership to this society is exclusive to senior executives from organizations with over 500 employees, who are responsible for leading transformative initiatives and investment decisions.
Overview:
In late March 2024, Focus Network hosted a CISO Executive Society briefing in Singapore, attended by 25 members. The event featured an interactive analyst presentation on current cybersecurity trends and a panel discussion.
Key insights from the event included:
- Cybersecurity Budget Concerns:
Nearly 50% of Singaporean organisations anticipate the same or reduced cybersecurity budgets in 2024 despite a growing threat landscape. This is due to the fact that they are expected to extract more value from existing investments and concerns about AI overshadowing cybersecurity spending. - Focus on Compliance, Complexity, and Cost:
Compliance is a major challenge for 63% of CISOs, especially in the financial sector where adherence to Monetary Authority of Singapore (MAS) guidelines is crucial. - Using Generative AI:
Generative AI is being used to boost efficiency and productivity in cybersecurity operations, including training and threat management. - Cloud Security Priorities:
Cloud security remains a priority, with issues stemming from rapid cloud adoption during the Covid-19 pandemic leading to misconfigurations and misunderstandings of the shared responsibility model. - Adoption of Zero-Trust Approaches:
Many companies still use a perimeter-based ‘castle and moat’ approach, indicating a lack of maturity in cybersecurity. There is a shift towards zero-trust models and an ‘assume breach’ posture, though continuous monitoring and adaptive risk management are not yet prevalent.
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