A concerning trend has risen among Chief Information Security Officers regarding the financial constraints posed by the rise of artificial intelligence. According to the “Underfunded and Under-Reported: Threats, Breaches, and Budgets” report, conducted by Censuswide, 65% of CISOs believe their cybersecurity budgets have been constrained due to the increasing focus on AI technologies. This survey highlights the pressing need for balanced investment strategies that can address both AI development and cybersecurity needs.

59% of CISOs feel their organizations are under-investing in cybersecurity, partly due to a diversion of resources towards AI. This is particularly alarming given the National Cyber Security Centre’s (NCSC) warnings about heightened threats to critical national infrastructure from state-sponsored attacks.

Despite these budgetary challenges, the report suggests that adopting automation in cybersecurity processes can help manage costs and enhance security measures.

Why it matters: The findings from the report shed light on the critical balance that organizations must achieve between investing in AI technologies and ensuring robust cybersecurity measures. As AI continues evolving and integrating into business operations, the need for proactive cybersecurity strategies becomes more crucial.

• Budget Constraints Due to AI Focus: 65% of CISOs report that their cybersecurity budgets are constrained by the increasing emphasis on AI technologies, highlighting a challenge in balancing technological advancements with security needs.

• Underinvestment in Cybersecurity: The report indicates that 59% of CISOs believe their organizations are not investing enough in cybersecurity. This underinvestment is partly due to prioritizing resources towards AI, posing a risk in the face of growing cyber threats.

• Adoption of Automation: To mitigate budget constraints, 87% of organizations are integrating automation into their cybersecurity processes. Automation helps in reducing costs and allows for the reallocation of resources towards advanced cybersecurity technologies.

• The Human Factor in Cybersecurity: Despite the rise of AI and automation, the report emphasizes the importance of investing in skilled cybersecurity professionals. A balanced approach combining cyber-savvy people and robust technology is crucial for resilient business operations.

Go Deeper -> Two-thirds of CISOs Have Had Budgets Slashed Due to AI – Digit News