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What is the main reason for this increased spending on information security? Well, the reasons are more than a few, but they are all tied with the digital transformation underway and are affecting how businesses secure data and hardware in the newly developed busy landscape. A lot of business interactions are performed online or via digital channels. The increased spending on improved security is a natural consequence of the added value in digital transactions that include more people, produce more data, and potentially create greater security risks.
Digital transformation is nothing new. It has been disrupting traditional business models for a few years now. It’s wrong to look at it as a simple support to conventional ways of running a business because it brings innovation and creativity to the front page, creating security risks that haven’t been anticipated. Yet, novel information security solutions are also a part of this digital transformation as they encourage security providers to develop original solutions to old problems. What we will see show anew or develop further in 2019?
Tightening Cloud Security
More and more companies rely on the public cloud. The public cloud is a safe space but it is also a shared space and therefore vulnerable to security threats that come from the shared responsibility.
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Companies will need to invest a portion of their increasing budgets to raising awareness and building a solid knowledge base of shared responsibility in the cloud so that they are able to respond to the innovation brought by digital transformation.
Managed Security Services
To address the need for stronger expert support, information security vendors tend to provide premium security services, including comprehensive solutions that target the weak points of each company. Such solutions not only include reducing the daily workload with automation, providing training or help with incident response, but also create a new security culture within a wider digital transformation consultancy scope that makes people alert of common behaviors that endanger company security.
Data Security Depends on Regulation
Increased data volume goes hand by hand with digital transformation but it makes sense only in the context of regulation. Data security depends on how, where, and why data is used and created. In 2019 we will see a continuous trend toward building regulatory frameworks for new technologies in order to keep that data in check and make it serve businesses without posing unnecessary risks.
Increased Spending in Industries of Public Benefit
The biggest spenders in 2019 will be banking, discrete manufacturing, and government, as well as professional services, telecommunications, and process manufacturing.
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The common trait of these industries is that they are either essentials, such as manufacturing of food and beverages, and financial services, or they benefit the public good or the greater good of larger groups. Consequently, public industries must invest more to ingrain a common sense of security.
The Role of AI in the Shortage of Skills
The shortage of skills in the information security sector remains an unresolved problem. Although artificial intelligence promises an overhaul of cybersecurity, it can also create new risks and provide only simplified solutions by automating repetitive security tasks. However, AI is short of strategic skills, and most companies need expert help in developing a digital transformation strategy with a strong focus on dedicated security services. AI, as far as we are aware, AI is still helpless in that area, especially when compared to human perception and logic for digging deep into where threats come from. Paying more for specialist help will be an important budget item in this forthcoming year.
It will take a lot of perseverance and vigilance to keep businesses safe and secure as they are transforming conventional information security models. Staying up-to-date with technology news is the first step to successfully making the shift towards digital, and 2019 will include greater investments for building knowledge and skills, as well as understanding individual and shared responsibility within the private/public enmeshing of data and service-based models such as the cloud.
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