With new technologies offering advanced tools, digital transformation is here to stay, but only if the challenge of security is met.
With increasing avenues of connected technologies, businesses need to be very clear on their security strategies, which have become even more critical as digital transformation sweeps everything in this wake.
Since security has a vital role to play in gaining the digital strategies leverage, CISOs are incredibly cautious and using advanced security tools and strategies in all digital endpoints across organizations.
It was an expected situation – it was two years ago that Gartner had released a report forecasting 60% of digital companies would lack service failures due to the inefficacy of the security teams by 2020. It is essential to understand that the span of various digital technologies related to digital transformation contains an array of security risks that IT teams can’t handle in isolation. Christophe Blassiau, Global CISO of Schneider Electric, mentioned in a statement, “I didn’t want to grow bigger teams because you give the impression that it will be fixed by someone else. Here, security is everyone’s responsibility.”
Clearly, security has been a question mark in many digital transformation strategies. Marsh & McLennan conducted a survey on 1,500 executives about cyber-attacks and threats in “Global Cyber Risk Perception Survey Report 2019”. In the survey, about 79% of people ranked cyber-attacks as one of their organization’s highest risk management priorities in 2020.
As per Altimeter, IT directors are considering cyber-security as their second priority investment for about 35%, right after cloud, which is 37%. Increasing digital transformation initiatives will only increase this threat. The security needs have to be initiated at the start of the design process of a transformation journey. Organizations with adequate data on security incidents can integrate machine learning, analytics, and algorithms to find and respond to threats in real-time. If security can be provided in real-time for all aspects of the digital journey, it helps to close the circuit. Companies are investing hugely in protecting data and other vital assets since cyber-security is the primary concern during the transformation journey. Especially in a multi-cloud environment, there are various security issues to consider – including managing access to cloud services, continually evolving applications and workflows spanning different backgrounds, different cloud vendors, and more.
Cyber-security for digital transformation initiatives is still not perfect for most organizations. Many investors have predicted that cyber-security firms that already use machine language (ML) are expected to gain the upper hand in 2020 since massive sets of security data could be integrated with ML, analytics, and algorithms to manage threats in real-time. Thus, if cyber-security is in control, digital transformation can be achieved securely and much faster.