Last Updated: March 28, 2024, 13:12 IST
Indian companies are yet to fully realise the cost and issues of a cyberattack
Indian companies face the threat of cyberattacks which needs a robust system but it seems very few businesses are ready for the battle.
Cyberattacks are a big menace and most businesses realise the need to arm themselves with the weapons to tackle big events. However, only 4 percent of organisations in India have the “mature” level of readiness needed to be resilient against modern cybersecurity risks, a new report showed on Thursday.
Readiness is critical as 82 percent of respondents said a cybersecurity incident is likely to disrupt their business in the next 12 to 24 months, according to Cisco’s ‘2024 Cybersecurity Readiness Index,’
However, 88 percent of companies still feel “moderately to very confident” in their ability to defend against a cyberattack with their current infrastructure. “We cannot underestimate the threat posed by our own overconfidence,” said Jeetu Patel, EVP and General Manager of Security and Collaboration at Cisco.
“Today’s organisations need to prioritise investments in integrated platforms and lean into AI in order to operate at machine scale and finally tip the scales in the favour of defenders,” Patel added.
Almost all (99 percent) companies globally expect to increase their cybersecurity budgets in the next 12 months. About 71 percent of companies plan to significantly upgrade their IT infrastructure in the next 12 to 24 months.
“They must also ensure that AI is integrated into frontline defenses as part of their overall cybersecurity strategy to fortify their defenses against evolving threats, futureproof their operations, and strengthen security resilience in a digital-first world,” said Samir Kumar Mishra, Director, Security Business, Cisco India & SAARC.
