Lack of Security Automation Is Hampering the Growth of North Asian Companies
As cyber threats surge in North Asia, a fresh spotlight is cast on the imperative need for robust cybersecurity measures. A whitepaper published by Telstra, a global telecommunications company in collaboration with Omdia, a research and advisory consultancy, reveals a significant surge in security incidents. In a region that forms the backbone of technological innovation, the unfolding narrative of cybersecurity failures and successes shapes the future of digitization.
The report discloses that 32% of firms have confronted an increase in substantial security incidents across their IT infrastructure in the past year. One in five North Asian firms has faced a security breach, underlining the urgent need for heightened security measures. Yet, only 24% of companies have harnessed the power of security automation to a notable extent, highlighting a vast potential waiting to be explored.
The collaboration between Telstra and Omdia sought insights from 250 senior technology decision-makers detailing the state of Security Operations (SecOps) in North Asia as of 2022. The investigation extended across various complex technology environments and threats, aiming to arm security executives with crucial data to fortify their cybersecurity resilience and back their digital transformation agendas.
Paul Abfalter, head of North Asia at Telstra, underscored the tremendous opportunity for companies to capitalize on automation, which could drive operational efficiency, address known security incidents, and shift the focus of operational teams to higher-risk threats.
An alarming 66% of companies that observed a significant rise in serious security incidents also reported a surge in severe breaches. The repercussions were far-reaching — 40% of firms said revenue was lost due to the attacks, 38% suffered reputational damage, and 34% endured operational downtime.
Despite the challenges, there's a silver lining as security leaders express confidence that they could mitigate nearly half of all serious security incidents with more efficient security automation. Adam Etherington, senior principal analyst for digital enterprise services at Omdia, echoed this sentiment, noting the pivotal role of third-party expertise in addressing the impacts of security automation within each firm's unique industry context and regulatory requirements.
Interestingly, the survey revealed a significant issue caused by an overabundance of threat alerts, alarms, tickets, and possible incidents generated by various security tools. This flood of false positives overwhelmed security teams and could be traced back to a marked expansion in the attack surface as more operational technology devices integrated with IT systems.
Concluding the findings, Abfalter emphasized the importance of continual cybersecurity resilience assessment, partnering with the right cyber expert, and extracting value from security tools. Security automation in North Asia may be in its early stages, but the journey to optimal automation is underway, underpinned by a commitment to securing the region's digital future.
Image credit: iStockphoto/Nuthawut Somsuk
