Company Announcements

AI generated attacks drive business leaders to rethink cyber delivery and platform strategies, emphasizing the need for strategic budget rationalization

NEW YORK & NOIDA, India--(BUSINESS WIRE)--Oct. 28, 2024-- HCLTech, a leading global technology company, today released The Global Cyber Resilience Study 2024-25, detailing strategic priorities aimed at bolstering cybersecurity readiness and resilience. The report compiles perspectives from 1500+ leaders across industries in North America, Europe, and Australia and New Zealand.

According to the report, 81% of the security leaders anticipate a cyberattack on their organizations in the next 12 months while only 48% believe they can prevent one. 54% of the security leaders identify AI generated attacks as the biggest security risk. 76% of the security leaders faced high to moderate challenges in resuming business fully in the aftermath of a cyberattack.

“Building a strong digital foundation for modern organizations requires robust prevention, response and recovery capabilities against cyberattacks. With AI-driven threats on the rise and recovery becoming more complex, adopting a strategy centered on comprehensive resilience is essential. This includes investing in cyber resilience solutions, zero-trust controls and AI-assisted automation, and streamlining security tools through a platform-based approach. With over 26 years of experience, we believe our solutions will enable organizations to strike a stronger balance between managing cyber risks and addressing cost pressures, ultimately driving enhanced operational efficiency,” said Jagadeshwar Gattu, President, Digital Foundation Services, HCLTech.

North America witnessed the highest incidence of reported attacks at 64% of surveyed security leaders indicating their organization had been targeted, followed by 57% in Europe and 51% in the Australia-New Zealand region. In response to these rising threats, 63% of security leaders plan to increase cybersecurity investments over the next 12 months. Improving compliance and risk management emerged as the top priority for 84% of respondents, followed closely by investments in SOC automation (76%) and incident response and recovery capabilities (75%), reflecting a clear focus on strengthening both proactive and reactive cybersecurity measures.

While only 35% of security leaders feel confident in their in-house expertise to manage cybersecurity risks, 90% expect to continue relying on external sourcing to bolster their capabilities. Additionally, only 37% feel they are effective in communicating their organization's IT security posture to the board and C-suite, highlighting a gap in both internal expertise and strategic communication at the leadership level.

“Cybersecurity is a strategic capability for businesses—and CISOs and CROs (Chief Risk Officers) must serve as a critical bridge between the board and technology/business teams, transitioning to real-time risk governance and control execution to manage rapidly changing threat landscapes. As cyber threats evolve daily, the effective implementation of a cyber strategy increasingly relies on automation and AI,” added Amit Jain, EVP and Global Head, Cybersecurity Services, HCLTech. “HCLTech’s dynamic cybersecurity framework is designed to address these challenges, improving stakeholder relationships and enhancing visibility into cyber preparedness and resilience.”

To access the full report, visit https://www.hcltech.com/digital-foundation/cyber-resilience-report

View source version on businesswire.com: https://www.businesswire.com/news/home/20241027013974/en/

For further details, please contact:

Meredith Bucaro, Americas
meredith-bucaro@hcltech.com

Elka Ghudial, EMEA
elka.ghudial@hcltech.com

James Galvin, ANZ
james.galvin@hcltech.com

Nitin Shukla, India
nitin-shukla@hcltech.com

Source: HCLTech