Mere 1% recognises critical need for robust cybersecurity measures, says Capterra
A survey of Indian companies has reported that 33% faced ransom demands in the Rs.801,000 – Rs.2,000,000 range, while 16% encountered demands exceeding Rs.4,101,000.
The survey, by Virginia-based Capterra, noted that 48% of the companies dealt with ransoms below Rs.800,000, while a small percentage (3%) were uncertain about the ransom amount.
According to the survey, 82% of organisations with a heightened awareness of cyber threats reported increased cybersecurity spending from 2022 to 2023, while a mere 1% reported a recognition of the critical need for robust cybersecurity measures.
Companies across various sectors in India have implemented a range of technical and procedural safeguards such as:
1. 61% of surveyed organisations conduct formal cybersecurity risk assessments.
2. Nearly half (48%) of respondents indicated the implementation of network segmentation to isolate specific sections of their IT infrastructure.
3. 46% of surveyed companies apply data classification techniques to safeguard sensitive information.
4. Another critical cybersecurity measure adopted by 46% of organisations is the implementation of zero-trust network policies.
Capterra says, “94% of cyber-aware respondents in our survey revealed that their companies actively employ AI to fortify their defence mechanisms.”
Key insights from the survey highlight the profound impact of AI on cybersecurity:
• 65% of respondents emphasized that AI plays a crucial role in real-time monitoring, swiftly detecting threats as they unfold.
• 54% reported that AI significantly improves data integration by seamlessly merging threat intelligence feed data with internal network behaviour analysis.
• Over half (52%) acknowledged the role of AI in automating routine security tasks, including alert triage, incident response, and patch management.
However, the press for AI adoption in cybersecurity does not come without challenges.
The survey noted:
48% acknowledged challenges related to the quantity and quality of data affecting the efficacy of AI.
46% recognised the need for additional human expertise to complement AI systems.
37% expressed concerns about attackers manipulating AI systems to evade detection.
Organisations have defended against ransomware surge. Two-thirds witness attacks, yet resilience prevails, said the survey.
66% of respondents reported encountering ransomware attacks, showcasing the pervasive nature of this cybersecurity menace.
48% of cyber-aware employees said their company fell victim to at least one ransomware attack in the past 12 months.
An alarming 18% faced the challenge of dealing with multiple ransomware attacks during the same period.
In the majority of reported cases, organisations resiliently avoided paying ransoms. However, despite the resilience displayed, the cost of retrieving data post-ransomware attacks remains a significant concern.
Sukanya Awasthi, analyst of the study, said on 19 Jan, “The upward trend in cybersecurity investments highlights a response to the growing frequency of data breaches and cyber-attacks.
“Employees who are well-versed in cybersecurity express apprehension about the diverse threats in the digital realm. Organisations, in turn, employ a spectrum of advanced techniques to fortify their defences against cyber threats.
“AI plays a crucial role in these defences, yet its optimal functionality hinges on integrating human expertise.”
Founded in 1999, Capterra helps organisations around the world find the right software for their needs. Fiinews.com
