|By RealWire News Distribution||
|May 22, 2014 06:52 AM EDT||
- Study highlights significant risks of outmoded cyber security strategies
- Board directors suffering from fear, uncertainty and doubt (FUD) fatigue
- Investment in cyber security technology often seen as an overhead rather than risk mitigation
LONDON, 22 May, 2014 - Traditional approaches to cybersecurity are no longer working and organisations that fail to update their strategies run the risk of significant financial and reputational damage. This was the major insight from the inaugural IT Leaders' Roundtable events hosted by Protiviti and Robert Half Technology, which were attended by chief information security officers (CISOs) from a range of private and public sector organisations.
The main challenge lies in communication between CISOs/IT and the board, reported attendees. While boards of directors are aware of the risks associated with cyber crime, partly because of recent high profile attacks in the news and partly because of guidance from GCHQ and other government bodies, they tend to view expenditure on measures to tackle cyber crime as overheads, rather than risk mitigation.
A separate survey found that nearly three-quarters (72%) of CIOs/CTOs indicate that cybersecurity is being prioritized by senior management, but that this number drops to 55% for small and medium-sized enterprises (SMEs). The primary reasons why the lack of prioritisation include lack of perceived imminent threat (39%), cost considerations (21%) and the belief that company information is not of external value (17%).
CIOs/CTOs were asked, 'What is the primary reason why cybersecurity is not being prioritised by senior management?' Their responses:
|Lack of perceived imminent threat|
|Belief company information is not of external value|
|Not a regulated organisation|
|Lack of understanding|
|Other business initiatives of greater importance|
Jonathan Wyatt, managing director of Protiviti UK, said: "Our annual survey of the top business risks for UK executives shows that cybersecurity is among the top concerns for 2014, alongside regulatory change, economic conditions and political uncertainty. More boards recognise that cyber threats have the potential to disrupt core operations, bringing what was previously a low level IT concern to the senior decision making table."
Attendees also reported that their boards were experiencing fear, uncertainty and doubt (FUD) fatigue and tended to believe that they could get away with current protection against cyber attacks - despite the fact that the world has changed significantly because of social media, mobile and cloud technology.
Ryan Rubin, managing director and leader of Protiviti's UK Security and Privacy practice, commented: "Traditional approaches need to change to reverse the trends and help mitigate risk. The average cost of a data breach is $250 per record - and there are mounting expectations that a company will do something for customers whose information have been compromised. As well as reputational damage, companies can face costs that escalate very quickly."
Charlie Grubb, Associate Director, Robert Half Technology added: "When we asked about the quality of information exchange around cybersecurity between IT and the board, organisations reported that this was mostly limited and reactive, rather than ongoing. The delegates' experiences suggest that IT security professionals need to develop skills beyond their technological knowledge - the most successful will be those who are able to explain the impact of cybersecurity risks to the board in language that they understand."
Looking at the most senior roles in IT teams, Chief Information Security Officers (CISOs) experienced the highest annual salary percent increase at 3.5%, according to the The Robert Half 2014 Salary Guide for Technology Professionals, reflecting the importance of information security in today's organisations and the growing shortage of experienced senior candidates.
An infographic highlighting key cybersecurity statistics and issues impacting UK businesses is available here http://www.roberthalf.co.uk/cybersecurity-infographic and can be embedded on websites using the following code:
<p><a href="http://www.roberthalf.co.uk/cybersecurity-infographic" target="_blank"><img src="http://www.roberthalf.co.uk/EMEA/United%20Kingdom/Assets/uploads/rhuk_cybersecurity-infographic.jpg" alt="Robert Half Cybersecurity Infographic"/></a></p>
Notes to editors
- The inaugural IT Leaders' Roundtable events were held in London and Swindon in February 2014 and were attended by chief information security officers (CISOs) from a range of private and public sector organisations.
- A survey of 100 UK CIOs/CTOs was conducted in December 2013 and results are stratified by region, company size and company type.
- The Robert Half 2014 Salary Guide for Technology Professionals is available here: http://www.roberthalf.co.uk/salary-guides
About Robert Half
Robert Half is the world's first and largest specialised recruitment consultancy and member of the S&P 500. Founded in 1948, the company has over 345 offices worldwide and 18 in the United Kingdom providing temporary, interim and permanent recruitment solutions for accounting and finance, financial services, technology and administrative professionals. For more than 15 years, Robert Half has been named to FORTUNE® magazine's list of "Most Admired Companies" and offers workplace and job seeker resources at http://www.roberthalf.co.uk/ and www.twitter.com/roberthalfuk.
For more information
Citigate Dewe Rogerson
020 7282 1092
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
Jun. 24, 2016 04:15 PM EDT Reads: 1,040
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jun. 24, 2016 02:15 PM EDT Reads: 312
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
Jun. 24, 2016 01:00 PM EDT Reads: 1,280
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
Jun. 24, 2016 12:00 PM EDT Reads: 1,525
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
Jun. 24, 2016 12:00 PM EDT Reads: 685
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jun. 24, 2016 11:15 AM EDT Reads: 559
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his Day 2 Keynote at @ThingsExpo, Henrik Kenani Dahlgren, Portfolio Marketing Manager at Ericsson, discussed how to plan to cooperate, partner, and form lasting all-star teams to change t...
Jun. 24, 2016 11:00 AM EDT Reads: 913
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Jun. 24, 2016 10:30 AM EDT Reads: 831
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Jun. 24, 2016 09:45 AM EDT Reads: 1,136
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Jun. 24, 2016 09:30 AM EDT Reads: 1,089
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Jun. 24, 2016 09:30 AM EDT Reads: 558
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Jun. 24, 2016 08:45 AM EDT Reads: 1,088
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Jun. 24, 2016 08:45 AM EDT Reads: 1,183
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Jun. 24, 2016 08:30 AM EDT Reads: 749
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Jun. 24, 2016 08:15 AM EDT Reads: 1,166
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Jun. 24, 2016 08:15 AM EDT Reads: 1,389
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Jun. 24, 2016 07:30 AM EDT Reads: 940
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
Jun. 24, 2016 07:15 AM EDT Reads: 1,136
industrial company for a multi-year contract initially valued at over $4.0 million. In addition to DataV software, Bsquare will also provide comprehensive systems integration, support and maintenance services. DataV leverages advanced data analytics, predictive reasoning, data-driven diagnostics, and automated orchestration of remediation actions in order to improve asset uptime while reducing service and warranty costs.
Jun. 22, 2016 11:00 AM EDT Reads: 1,328
Vidyo, Inc., has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web. As a member of the Alliance, Vidyo will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Vidyo’s contributions to the organization will bring to bear its long history of expertise in codec technolo...
Jun. 19, 2016 12:45 PM EDT Reads: 1,217