Turning Today's Security Trends Into Strategies for Tomorrow
In 2023 and 2024, we witnessed a staggering 72% increase in data breaches. U.S. companies are now facing an average breach cost of $9.36 million(1). While cybersecurity and compliance budgets are on the rise, these investments are not keeping pace with the accelerating threat landscape.
As of 2024, AI adoption has surged to 72%(2), prompting regulators to respond with stricter regulations that will impact business models and long-term strategies.
To stay ahead of these challenges, organizations must adopt comprehensive, year-round security strategies, elevate cybersecurity discussions to the Board level, and invest in robust controls.
Key Takeaways from the Cybersecurity Awareness Month Webinar
On October 8, 2024, our CEO, Dorina Hamzo, participated in a webinar focused on enhancing cybersecurity awareness.
"I know that it can be challenging when drafting your cybersecurity strategy and plans to determine if they will hold true in 6-7 months," she remarked. "Some of the information and advice in this webinar are examples of what we offer to our customers, serving as a second set of eyes to validate that what they design today will still be effective tomorrow."
Here are some key takeaways designed to help organizations secure their assets while ensuring compliance:
Emerging Technologies and Practices Shaping Cybersecurity Strategy in 2025
- AI Technology Disruptions and Governance: As AI tools become more prevalent, it’s crucial to establish strong governance frameworks.
- Stricter Data Management: Breaches involving shadow data take an average of 26.2% longer to identify and 20.2% longer to contain, highlighting the need for comprehensive data oversight(1).
- Third-Party Risk Management: As companies rely more on external partners, managing third-party risks becomes essential.
- Resource Shortages: The ongoing shortage of cybersecurity professionals necessitates innovative staffing solutions.
- Adoption of Enhanced Controls: With regulatory changes on the horizon, companies must invest in more controls to maintain compliance.
Building a Year-Round Security Strategy
A proactive year-round security strategy should include:
- Risk Management Activities: Regularly assessing the risk landscape allows for timely adjustments to strategy and budget.
- Cultural Integration of Security: Consider adding key security metrics to corporate scorecards, reinforcing that security is everyone’s responsibility.
- Security Audits: Investing in annual independent security audits might seem daunting—who enjoys being audited? But these assessments can be incredibly valuable, especially when shaping your security strategy. Think of them as a supportive tool to help you evaluate the effectiveness of your approach and the overall health of your security measures.
Addressing AI Risks and Governance
The rapid development of AI tools must be approached with caution. With the development of AI technologies, without a balance of emotional intelligence (EQ) alongside intelligence quotient (IQ), organizations may face many risks, including economic inequality, security vulnerabilities, and privacy violations.
Improving the company’s position and strategy around the adoption, development, and protection of AI usage can be done by addressing a number of governance questions including:
- What guardrails are in place to ensure AI is used safely and ethically?
- Which AI use cases should the company adopt or avoid, and why?
Navigating Regulatory Changes
The recent overruling of the Chevron Doctrine by the Supreme Court signifies that courts will no longer defer to federal agencies' interpretations of federal statutes.
Companies and boards should brace for increased regulatory scrutiny, necessitating a proactive regulatory strategy. Consider the long-term impacts of these changes on business models and the risks and opportunities they present.
Cultivating a Culture of Security
While the culture of compliance is often discussed, the culture of security deserves equal attention. A secure organization is inherently compliant, and a compliant organization prioritizes security.
Key Elements of a Strong Culture of Compliance and Security
- Tone from the Top: Leadership must convey that compliance is not merely a “necessary evil” but a core value.
- Strong Bias for Action: Issues should be addressed promptly and effectively.
- Proactive Adoption of Regulations and Standards: Staying ahead of compliance requirements is essential.
- Adequate Resources for Compliance Programs: Proper funding and resourcing ensure effective implementation.
Strategies for Year-round Threat Prevention Webinar
How AdviseUp Can Help
At AdviseUp, we are hands-on partners offering individualized services to help organizations strengthen their security and compliance posture. Our offerings include:
- Risk Assessments: Identify vulnerabilities and develop tailored security strategies.
- AI Governance: Establish frameworks for ethical AI use and technology investments.
- Regulatory Compliance: Navigate complex regulations like ISO 42001 to ensure compliance.
- Third-Party Risk Management: Assess and manage risks associated with your vendors.
- Security Culture: Foster a culture of security by integrating security metrics into corporate goals.
- Training Programs: Equip your team with the knowledge to recognize and respond to threats.
Let’s make security and compliance work for you!
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