Innovation elevates security concerns
Not surprisingly, while many organisations are pursuing an innovation agenda, security risks are on the minds of many technology executives, especially when it comes to implementing new technologies.
How concerned are you about the security risks (for example, breaches, data loss, improper controls, poor access management) associated with implementing innovative new technologies?
Globally, a strong majority of organisations – 82% – have a high level of concern about security risks associated with implementing innovative new technologies. However, there is a significant gap between large and small organisations. For example, 70% of businesses with annual revenue under $1 billion are very concerned about the impact of innovative technologies creating security risks, while 90% of organisations with annual revenue of more than $10 billion are very concerned, indicating that larger organisations may be more risk averse than smaller organisations.
Pursuing innovation is a strategic priority for most businesses today, but such new activities can create uncertainty and doubt across the C-suite, especially with regard to security and risk management. Given these concerns, organisations should lean on dedicated labs and/or think tanks to focus on innovation activities, including but not limited to how to manage security- and privacy-related risks. Organisations should also embrace concepts such as DevOps, especially a DevSecOps ideology to bake in security during the development process.
Notable Observations – Industry and Region
- Financial services (88%) and telecommunications (87%) expressed greater concerns about security risks around innovation relative to many other organisations.
- A vast majority (81%) of technology companies have high levels of concern about these security risks.
- Other industries that express the greatest security concerns tied to innovation include healthcare providers, biotechnology and manufacturing.
- Security concerns by region have little variance. 85% of U.S.-based organisations have a high level of concern, while 73% of UK businesses share that same level of concern.