Intelligent CIO North America Issue 27 | Page 44

The continued global cyber skills shortage shows no sign of abating .
Jon Pratt , CIO at 11:11 Systems

Improving cybersecurity with Managed Security Services Providers

Jon Pratt , CIO at 11:11 Systems , discusses cybersecurity resourcing and the benefits of Managed Security Services .

Despite a global spend of over US $ 130 billion on cyberdefense and thousands of vendors now active in the cybersecurity marketplace , the environment is getting worse when it comes to security risk .

The number , nature and severity of cybersecurity breaches continues to escalate since the pandemic began . In fact , a security breach or ransomware attack has been recorded every 11 seconds so far through 2022 and 61 % of organizations report at least one attack every year .
Considering this increasingly sophisticated threat landscape , modern organizations are resetting their expectations . Where legacy security tech stacks have failed to keep up with the evolving threat landscape , IT leaders are continually seeking new ways to develop a stronger security posture , without having to start from scratch .
Finding the right talent to tackle this is an on-going challenge . The continued global cyber skills shortage shows no sign of abating , as the ever-evolving threat landscape drives expectations for an increasingly broad security knowledge base and skill sets .
As a result , there are now millions of positions going unfilled globally and this , in turn , is creating a huge demand , with internal staffing resources becoming prohibitively expensive .
CISOs want solutions that put their organizations into the right security posture and that will allow them to manage risk more effectively . Cyber insurance is one aspect , as it provides an extra layer of protection in
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