Wipro’s Annual State of Cybersecurity Report Finds Increasing Adoption of AI in Cybersecurity to Tackle Advanced Adversaries
November 17 2020 - 8:17AM
Business Wire
Nearly half (49%) of organizations plan to
extend Cognitive and AI capabilities for security to detect and
respond to attacks faster
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading
global information technology, consulting and business process
services company, today released its annual State of Cybersecurity
Report (SOCR) that presents changing perspectives of cybersecurity
globally.
The report provides fresh insights on how Artificial
Intelligence (AI) will be leveraged as part of defender stratagems
as more organizations lock horns with sophisticated cyberattacks
and become more resilient. There has been an increase in R&D
with 49% of the worldwide cybersecurity related patents filed in
the last four years being focussed on AI and Machine Learning (ML)
application. Nearly half the organisations are expanding cognitive
detection capabilities to tackle unknown attacks in their Security
Operations Center (SOC).
The report also illustrates a paradigm shift towards cyber
resilience amid the rise in global remote work. It considers the
impact of COVID-19 pandemic on cybersecurity landscape around the
globe and provides a path for organizations to adapt with this new
normal.
The fourth edition of the SOCR saw a global participation of 194
organizations and 21 partner academic, institutional and technology
organizations over four months of research.
Additional highlights from State of Cybersecurity Report,
include:
Global macro trends in cyber security
- Nation State Attacks Target Private Sector: 86% of all
nation-state attacks fall under espionage category, and 46% of them
are targeted towards private companies.
- Evolving threat patterns have emerged in the Consumer and
Retail Sectors: 47% of suspicious social media profiles and
domains were detected active in 2019 in these sectors.
Cyber Trends sparked by COVID-19 Global Pandemic
- Cyber Hygiene proven difficult during remote work
enablement: 70% of the organizations faced challenges in
maintaining endpoint cyber hygiene and 57% in mitigating Virtual
Private Network (VPN) and Virtual Desktop Infrastructure (VDI)
risks.
- Emerging post-COVID Cybersecurity priorities: 87% of the
surveyed organizations are keen on implementing zero trust
architecture and 87% are planning to scale up secure cloud
migration.
Micro Trends: An inside-out enterprise view
- Low Confidence in Cyber Resilience: 59% of the
organizations understand their cyber risks but only 23% of them are
highly confident about preventing cyberattacks.
- Strong Cybersecurity spend due to Board Oversight &
Regulations: 14% of organizations have a security budget of
more than 12% of their overall IT budgets.
Micro Trends: Best Cyber practices to emulate
- Laying the foundation for a Cognitive SOC: 49% of
organizations are adding cognitive detection capabilities to their
SOC to tackle unknown attacks.
- Concerns about OT Infrastructure attacks increasing: 65%
of organizations are performing log monitoring of Operation
Technology (OT) and Internet of Things (IoT) devices as a control
to mitigate increased OT Risks.
Meso Trends: An overview on Collaboration
- Fighting cyber-attacks demands stronger collaboration:
57% of organizations are willing to share only Indicators of
Compromise (IoCs) and 64% consider reputational risks to be a
barrier to information sharing.
- Cyber-attack simulation exercises serve as a strong wakeup
call: 60% participate in cyber simulation exercises coordinated
by Industry regulators, National Computer Emergency Response Team
(CERTs) and third-party service providers and 79% organizations
have dedicated cyber insurance policy in place.
Future of Cybersecurity
- 5G security is the emerging area for patent filing: 7%
of the worldwide patents filed in the cyber domain in the last four
years have been related to 5G security.
Vertical insights by industry
- Banking, Financial Services & Insurance: 70% of
financial services enterprises said that new regulations are
fuelling increase in security budgets, with 54% attributing higher
budgets to board intervention.
- Communications: 71% of organizations consider
cloud-hosting risk as a top risk.
- Consumer: 86% of consumer businesses said email phishing
is a top risk and 75% enterprises said a bad cyber event will lead
to damaged band reputation in the marketplace.
- Healthcare & Life Sciences: 83% of healthcare
organizations have highlighted maintaining endpoint cyber hygiene
as a challenge, 71% have highlighted that breaches reported by
peers has led to increased security budget allocation.
- Energy, Natural Resources and Utilities: 71%
organizations reported that OT/IT Integration would bring new
risks.
- Manufacturing: 58% said that they are not confident
about preventing risks from supply chain providers.
Bhanumurthy B.M, President and Chief Operating Officer, Wipro
Limited said, “There is a significant shift in global trends
like rapid innovation to mitigate evolving threats, strict data
privacy regulations and rising concern about breaches. Security is
ever changing and the report brings more focus, enablement, and
accountability on executive management to stay updated. Our
research not only focuses on what happened during the pandemic but
also provides foresight toward future cyber strategies in a
post-COVID world.”
To access the full report, click here.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading
global information technology, consulting and business process
services company. We harness the power of cognitive computing,
hyper-automation, robotics, cloud, analytics and emerging
technologies to help our clients adapt to the digital world and
make them successful. A company recognized globally for its
comprehensive portfolio of services, strong commitment to
sustainability and good corporate citizenship, we have over 180,000
dedicated employees serving clients across six continents.
Together, we discover ideas and connect the dots to build a better
and a bold new future.
Forward-Looking Statements
The forward-looking statements contained herein represent
Wipro’s beliefs regarding future events, many of which are by their
nature, inherently uncertain and outside Wipro’s control. Such
statements include, but are not limited to, statements regarding
Wipro’s growth prospects, its future financial operating results,
and its plans, expectations and intentions. Wipro cautions readers
that the forward-looking statements contained herein are subject to
risks and uncertainties that could cause actual results to differ
materially from the results anticipated by such statements. Such
risks and uncertainties include, but are not limited to, risks and
uncertainties regarding fluctuations in our earnings, revenue and
profits, our ability to generate and manage growth, complete
proposed corporate actions, intense competition in IT services, our
ability to maintain our cost advantage, wage increases in India,
our ability to attract and retain highly skilled professionals,
time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to
manage our international operations, reduced demand for technology
in our key focus areas, disruptions in telecommunication networks,
our ability to successfully complete and integrate potential
acquisitions, liability for damages on our service contracts, the
success of the companies in which we make strategic investments,
withdrawal of fiscal governmental incentives, political
instability, war, legal restrictions on raising capital or
acquiring companies outside India, unauthorized use of our
intellectual property and general economic conditions affecting our
business and industry. The conditions caused by the COVID-19
pandemic could decrease technology spending, adversely affect
demand for our products, affect the rate of customer spending and
could adversely affect our customers’ ability or willingness to
purchase our offerings, delay prospective customers’ purchasing
decisions, adversely impact our ability to provide on-site
consulting services and our inability to deliver our customers or
delay the provisioning of our offerings, all of which could
adversely affect our future sales, operating results and overall
financial performance. Our operations may also be negatively
affected by a range of external factors related to the COVID-19
pandemic that are not within our control. Additional risks that
could affect our future operating results are more fully described
in our filings with the United States Securities and Exchange
Commission, including, but not limited to, Annual Reports on Form
20-F. These filings are available at www.sec.gov. We may, from time
to time, make additional written and oral forward-looking
statements, including statements contained in the company’s filings
with the Securities and Exchange Commission and our reports to
shareholders. We do not undertake to update any forward-looking
statement that may be made from time to time by us or on our
behalf.
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version on businesswire.com: https://www.businesswire.com/news/home/20201117005788/en/
Media Contact: Nisha Chandrasekaran Wipro Limited
nisha.chandrasekaran@wipro.com
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