Radware has published its 2017 Executive Application & Network Security Survey, which highlights that executives in the US and Europe now place broad trust in artificial intelligence (AI) and machine learning systems, designed to protect organizations from dynamic cyber threats.
The survey supports the assertion that security automation has now reached an inflection point; with 81 percent of the responding executives reporting having already or recently implemented more reliance on automated solutions. Some 57 percent of executives report trusting automated systems as much or more than humans to protect their organizations. Two in five (38 percent) executives indicated that within two years, automated security systems would be the primary resource for managing cyber security.
Security is now a board-level concern
The majority of respondents (85 percent) said that security threats are a CEO- or board-level concern in their company. Among all respondents, 94 percent, said that security is an extremely or very important priority. About three in five (62 percent) rate it “extremely important,” marking a slight increase from last year, when just 53 percent did so.
Security is a main driver for digital transformation
Survey respondents affirmed that their organizations are actively integrating digital technologies; and that cyber security is the number-one driver of their digital transformation. Nearly half of all executives (47 percent) cited improving information security as a major goal of their digital transformation. What’s more, for three-quarters of organizations, cyber security considerations were critical in shaping decisions to transform aspects of the business to digital.
Executives believe that the biggest security threats in the next three to five years are network infrastructure (27 percent) followed by Internet of Things (IoT) (22 percent) devices and energy/power infrastructure (21 percent).
Executives’ biggest concern during a cyber attack?
Chief among executives’ worries about cyber attacks is a negative customer experience, which 39 percent of executives ranked as the top impact to their business from a security threat. Brand reputation loss (36 percent) was close behind, followed by operational and customer loss (both 29 percent) and revenue loss (34 percent).
Read the report (registration required).