Overcoming The Cybersecurity Challenge

Uploaded on 2023-12-14 in TECHNOLOGY--Resilience, FREE TO VIEW

The scale and complexity of cyber threats in the modern digital landscape have grown exponentially, posing significant challenges for enterprises globally. Not, only has the risk of cybercrime increased but so too has the cost. According to a forecast by Forbes, the cost of cybercrime will reach $10.5 trillion by 2025.

Cyberattacks have grown in sophistication too - particularly with the mainstream introduction of generative AI, such as ChatGPT, which has elevated the danger posed by phishing attacks for example.

Generative AI allows cybercriminals to create phishing attacks that are human-like in appearance, making them seem more credible and causing us to fall prey. Research shows one in five people have clicked on an AI-generated phishing email, massively increasing the security risk to businesses.

With this growing threat, a greater amount of people with security skills are needed to tackle the problem head on. However, the global cyber skills gap is adding to the corporate cybersecurity challenge. According to the UK government’s Cyber Security Skills in the UK Labour Market 2023 report, 50% of all UK businesses have a basic cybersecurity skills gap. Organisations that cannot recruit qualified individuals will expose themselves to increased risk. With overall enterprise security posture risks not being continuously reinforced due to a lack of people, businesses will be unable to deal with the threat landscape as it evolves around them.

To navigate these risks effectively, organisations must bridge the cyber skills gap and find the right balance between risk management, cost, and performance.

The Role Of Managed Service Providers

Managed services play a critical role in addressing the cybersecurity challenges facing enterprises today. They empower organisations to focus on their core objectives while entrusting the critical task of safeguarding their digital assets to dedicated experts. With their agility, expertise, and commitment to staying at the forefront of cybersecurity evolution, managed service providers are vital in helping enterprises build and deliver adaptable, resilient, and effective network security strategies in an increasingly complex and ever evolving digital world.

Organisational ability and speed play a key role in combating cyber threats. Today, where cyber criminals are continuously adapting and refining their tactics, the ability to adapt and respond quickly is paramount. This is where a partnership with a managed service provider comes into play, providing a multifaceted approach to enhancing cybersecurity defences. Working with managed services provider offers the expertise and support necessary to quickly identify, mitigate, and respond to these threats effectively.

According to IBM, it takes 277 days on average to identify and contain a breach. Rapid response time ensures that potential threats are identified swiftly, enabling timely remediation, and minimising the impact on business operations. When a threat is detected, time is of the essence. A fast and well-coordinated response can mean the difference between a minor security incident and a catastrophic breach. Managed service providers understand this and possess the agility and readiness to leap into action. Bad actors don’t work 9-5 so by having a team available 24/7, ready to respond to threats around the clock, organisations can hold teams accountable to properly monitor and react to threats.

Ensuring Business Success

Ultimately, cybersecurity isn't just about protection, it's about leveraging the expertise of managed service providers to ensure business success.

With managed service providers as partners, organisations can safeguard the continuity of their operations, gain a competitive edge, and maintain the trust and loyalty of their customers at a time when digital assets are essential to modern enterprises.

Samir Desai is Vice President, Product Management at GTT

Image: champpix

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