New Research from LevelBlue Indicates Computing Complexity is Forcing Leaders to Sacrifice Risk for Innovation

LevelBlue, a leading provider of managed security services, strategic consulting, and threat intelligence, today at RSA Conference announced the inaugural findings of its 2024 Futures Report: Beyond the Barriers to Cyber Resilience. This research shows businesses frequently take different approaches to their cybersecurity resilience strategies, struggle with deep-seated barriers, and face inconsistencies with senior executive attention to cyber resilience issues.

The LevelBlue Futures Report found that 85% of participants surveyed believe computing innovation is increasing risk. Additionally, 74% of global respondents confirmed that the opportunity of computing innovation outweighs the corresponding increase in cybersecurity risk - making cyber resilience nearly impossible to achieve. In fact, less than half (47%) of survey respondents declared their cybersecurity processes as standardized, with only 35% having formalized incident response.

Computing has advanced so rapidly that most IT leaders no longer have visibility into their IT estate, yet emerging technologies such as artificial intelligence (AI) and edge computing create unprecedented opportunities for innovation. While almost 90% expect dynamic computing to boost operational performance within the next three years, a similar proportion see it increasing their exposure to risk within the same timeframe. As businesses look to take advantage of these new technologies, organizations must ensure their cyber resilience strategies can withstand attacks by sophisticated threat actors leveraging cutting-edge attack methods and tools. This will prove to be challenging as 61% report there is a lack of understanding of cybersecurity at the board level.

"Businesses are less resilient than they should be, despite multiple high-profile cyber attacks and the knowledge that, for most, any widespread interruption to computing would be catastrophic," said Theresa Lanowitz, Chief Evangelist of AT&T Cybersecurity / LevelBlue. "Our research shows that despite the potential for cybersecurity to support safer innovation?and therefore drive better outcomes?most respondents admit their cybersecurity is siloed or an afterthought. By recognizing cybersecurity as a core business function and adopting a proactive stance on risk management, businesses can quickly and confidently navigate the intricacies of dynamic, boundaryless computing."

Additional key findings include:

• Cyber resilience requires C-suite and board support, yet 63% of respondents say leadership doesn't prioritize cyber resilience, and 72% admit their governance team doesn't understand it.
• 56% have limited visibility of the IT estate, with 72% believing digital transformation is an ongoing barrier to cybersecurity resilience.
• The adoption of Cybersecurity-as-a-Service (CSaaS) is on the rise, with 32% of organizations opting to outsource their cybersecurity needs rather than managing them in-house.
• Four in 10 recognize distributed denial-of-service (DDoS) as a probable attack vector, but another 40% of respondents admit to lacking confidence in handling it.
• 42% express hesitancy regarding their capacity to manage nation-state cyberattacks, recognizing the potential to disrupt critical infrastructure, sow public distrust, and channel espionage exploits.
• 77% accept that budgets are reactive rather than allocated to proactively address cyber resilience. An additional 46% identify compliance as the driver most likely to unlock cybersecurity budgets.
• 78% accept or believe that measuring cybersecurity investments based on return on investment is outdated.

To best achieve cyber resilience, the LevelBlue Futures Report recommends five specific steps: identify the barriers to cyber resilience; be secure by design; align cyber investment with business; build a support ecosystem; and transform cybersecurity strategies.

"The launch of the LevelBlue Futures Report serves as a further testament of our commitment to deliver the latest research to the industry, helping organizations better prepare for cyber attacks, more efficiently allocate IT budget, and ultimately, experience increased cyber resilience," said Bob McCullen, Chairman and CEO of LevelBlue. "We're excited to continue delivering forward-looking, vendor neutral industry research to better inform our customers and the future industry at large."

Download the complete findings of the 2024 LevelBlue Futures Report at this link here to learn how businesses can strive to better safeguard their operations against the onslaught of cyber threats and achieve cyber resilience in the face of adversity.

For more information on LevelBlue and its managed security, consulting, and threat intelligence services, please visit www.levelblue.com or visit booth #6155 at Moscone North Expo during RSA Conference to hear directly from LevelBlue executives.

Methodology

The research is based on a quantitative survey that was carried out by FT Longitude in March 2024. There were a total of 1,050 C-suite and senior executives surveyed, across 18 countries and seven industries: energy and utilities, financial services, healthcare, manufacturing, retail, transportation, and US SLED (state, local government, and higher education). Respondents were employed in a variety of cybersecurity-related roles, with 32% working at C-level and the remainder employed in C-minus one positions.

About LevelBlue

We simplify cybersecurity through award-winning managed services, experienced strategic consulting, threat intelligence and renowned research. Our team is a seamless extension of yours, providing transparency and visibility into security posture and continuously working to strengthen it.

We harness security data from numerous sources and enrich it with artificial intelligence to deliver real-time threat intelligence, which enables more accurate and precise decision making. With a large, always-on global presence, LevelBlue sets the standard for cybersecurity today and tomorrow. We easily and effectively manage risk, so you can focus on your business

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