Cyber threats are evolving. Threats related to data loss have impacted 28% of organisations in 2024, up by 14% vs last year. 57% of companies think they will increase their budget for cybersecurity over the next 12 to 24 months, according to consultancy Deloitte Global’s survey Future of Cyber.

“This year’s survey reinforces the urgency of securing cyber systems, as 25% of respondents from cyber-mature businesses reported 11 or more cybersecurity incidents in the past year, a 7% increase of incidents since the 2023 survey”, the report says.

• The top three expected outcomes from cybersecurity initiatives are protecting intellectual property (46%), improving threat detection and response (44%), and increasing efficiency and agility (44%).
• Overall, 83% agree or completely agree that measures like qualitative risk assessments and benchmarking are an integral part of their overall cybersecurity strategy.
• 58% also expect to begin integrating cybersecurity spending with budgets for other programs, such as digital transformation initiatives, IT programs, and cloud investments.

“Stemming from the climbing number of cyberattacks, the report underlines the growing responsibilities chief information security officers (CISO) are having as important allies to their CEOs and boards, particularly as their influence expands across an increasingly tech-savvy C-suite.”

“One aspect in making the role exceedingly important has been the growing wave of AI-generated threats, which can target enterprises to exploit vulnerabilities by impersonating trusted sources.” 

“While the CISO’s expertise gains value, organisations are turning simultaneously to AI-enabled tools to strengthen cybersecurity and combat risks. Each of this suggests an increasingly integrated cyber function across business and technology.”

• Around one-third report a significant increase in  involvement during strategic conversations about tech-related capabilities in the past year.
• Cyber is playing a large role in securing an organisation’s investment in tech capabilities, particularly when it comes to priority areas such as cloud (48%), Generative AI (41%), and data analytics (41%).
• On average 39% are using AI capabilities in their cybersecurity programs to a large extent.

“The rise of AI and other evolving technologies has significantly transformed the threat landscape. As threats become more sophisticated and impactful to core business, CISOs are increasingly required to adopt a more strategic role driving cross business risk prioritisation and mitigation,” says Emily Mossburg, Deloitte Global Cyber Leader. 

“The close relationship between CISOs and CEOs is a testament to the role security plays in a business’s long-term success. Today, CISOs are not only protectors against outside threats, but key players helping their organisation find success by integrating cyber considerations in the strategic decision-making process.”

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