Security leaders are currently faced with an ever-expanding array of digital tools designed to combat cyberattacks. Recent data from Gartner indicates that organisations are not just aware of these tools but are also heavily investing in them. The market researchers forecast a 15 per cent increase in spending on cybersecurity, projecting that costs will rise from $87.5 billion to over $100 billion by 2025.
A significant portion of these investments is directed towards new technologies and innovations, particularly those that boast a GenAI label. However, Chief Information Security Officers (CISOs) are also earmarking part of their budgets for the replacement of outdated technologies and practices. To gain insight into which older technologies are being phased out, discussions were held with security leaders from various companies.
One prevalent area of concern is the use of passwords. Richard Marcus, the Chief Information Security Officer at software provider AuditBoard, expressed a strong disdain for traditional password usage, particularly in connection with third-party services. He stated, "Passwords are out – especially in connection with third parties. If you do not rotate these credentials in a disciplined way, the risk is simply too high."
This emphasis on modernising cybersecurity practices reflects a broader trend within the industry as businesses strive to safeguard their digital environments amidst increasing threats. As technology continues to evolve, the approach to managing security will likewise adapt, urging companies to reconsider the tools and methods they currently employ.
Source: Noah Wire Services