Intelligent CIO North America Issue 21 - Page 46

CIO OPINION
No organization can be 100 % secure but they can be 100 % prepared .
The problem is that in today ’ s dynamic and digitally native businesses , there are over 40 – 50 cybersecurity products / services ; each with its dashboard , warnings and priorities . assessment techniques to quantify the cyber-risk posture across all vectors ( people , processes and technology for first and third-party ).
A single dashboard approach that helps businesses measure , manage and mitigate threats such as ransomware and others will aid CISOs and security teams to have a proactive view of what ' s going right and what can be better ; with a contextual understanding of the direct financial impact of every cybersecurity initiative undertaken to reduce the risks .
Cybersecurity teams are often overwhelmed and miss important SOC alerts that could potentially warn about ransomware attacks . Businesses should understand that more cybersecurity products do not mean better security .
Lastly , a part of the cyber-risk can be transferred via cyber insurance and in 2022 , we will see a rise in mandatory cyber insurance to have a baseline level of protection , especially for businesses in critical sectors such as FinServ , Healthcare , Power , etc .
A shift in mindset will enable businesses to move towards a predictive approach where signals – from various cybersecurity services – are unified and integrated in real-time , using ML-enabled risk
No organization can be 100 % secure but they can be 100 % prepared . Cyber-risk quantification makes cybersecurity simple , de-jargoned and contextual by improving visibility of cyber-risk . p
46 INTELLIGENTCIO NORTH AMERICA www . intelligentcio . com