In this episode of The SecurityANGLE, our webcast series focused on the cybersecurity sector, I'm joined by fellow analyst and member of theCUBE Collective community, Jo Peterson, for a conversation about enterprise risk management trends that we are tracking in 2024.
Enterprise Risk Management from the 30,000-Foot View
Business continuity, risk mitigation, and enterprise risk management processes might not be sexy terms, but they all work together and play an outsized role in business success.
Before we dig into the trends shaping 2024, here's a 30,000-foot view of Enterprise Risk Management and what it does. For starters, ERM solutions are gaining ground as people understand their vital role in risk management and protection. Global News Wire reports that the enterprise risk management market size is expected to surge from $10.58 billion in 2023 to $11.89 billion in 2024, boasting in impressive CAGR of 12.5%.
Acquisitions by companies like IBM, Cisco and SAP reflect a trend that gives IT executives a window to centralize IT spend around key vendors.
Tech sector merger and acquisition activity is heating up again after a year-long economic freeze, punctuated in March by the alarming collapse of Silicon Valley Bank.
IBM announced in January it would acquire Advanced's mainframe modernization unit for an undisclosed sum, expanding a portfolio that includes the $4.6 billion purchase of business management software company Apptio announced in June.
For a market that is so integral to the global economy, it sure is hard to get a complete dataset on quarterly and annual spending on information technology. We try to gather up all of the information we can find and flesh it out where we can so you can see trends and see how what you are buying or what you are selling or what you are investing in pans out as time goes by.
We like feeds and speeds, but we like dollars and sense, too.
The latest datacenter infrastructure spending track from IDC is out for the third quarter of 2023, and its forecast for all of 2023 allow us to take a pretty good stab at figuring out what spending on servers and storage looked like in the final quarter of 2023. (It's just the addition of three numbers quarterly subtracted from the bigger annual forecast. It's not rocket science, and we know because we studied rocket science.)
Risk In 2024
Cyber Defense Magazine, Tuesday, February 6th, 2024
Throughout 2023, data privacy has been front and center in conversations about cybersecurity. Consumers everywhere are increasingly vigilant about how their data is being gathered and used, especially with new technologies like AI creating fresh risks.
CISOs are leading the data privacy charge for their organizations. In a constantly changing environment, security leaders are always on the lookout for IT solutions that will shore up customer confidence and ensure regulatory compliance. And CISOs know best of all that failure to do so can have disastrous consequences.
In 2024, CISOs will need to adapt to a wave of new risks. Chief among these will be the challenges associated with AI, regulation and enforcement, and the very role of the CISO itself.
In this Help Net Security interview, Marco Eggerling, Global CISO at Check Point, discusses the challenge of balancing data protection with diverse policies, devices, and access controls in a distributed enterprise.
He also highlights the significance of security validations, especially internal testing, to understand the organization's security posture.
Eggerling recommends a preventive approach, leveraging advanced AI tools in the borderless enterprise landscape, and emphasizes the importance of comprehensive authorization and access control in implementing a zero-trust framework.
We speak to the former CIO of Uber and LinkedIn, current CIO of SentinelOne, about how artificial intelligence should be deployed in business
Prior to joining SentinelOne last year, Sandy Venugopal was one of its customers. She was previously CIO at Uber, and before that, was CIO at LinkedIn. Having worked at two companies that are regarded as industry disruptors in the business-to-consumer space, Venugopal is now working at a tech firm that operates in the business-to-business market, providing a platform for endpoint cyber security.
Chief information officers (CIOs) worldwide are placing a heightened emphasis on integrating artificial intelligence (AI) into their organizational frameworks, according to a Canva survey of more than 1,360 CIOs.
According to the report's key findings, an overwhelming 94% of surveyed CIOs express intentions to ramp up their investments in AI technologies.
Despite this enthusiastic embrace of AI, 84% of respondents had trouble sorting through with the over-abundance of AI tools saturating the market - this inundation poses a significant hurdle for CIOs seeking to pinpoint the optimal solutions tailored to their specific requirements.
Moreover, the report highlights a pressing concern among nearly three-quarters (72%) of CIOs regarding the phenomenon of application sprawl within their organizations.
Freshsales, Zoho CRM and Pipedrive are among the top enterprise CRM software that organize and automate data workflows to help achieve businesses' client management goals in 2024.
Enterprise CRM software are customer relationship management platforms specifically designed for mid-large organizations. With the right software, businesses can automate a series of sales and marketing related tasks, such as deal tracking, client engagement and team management.
These providers organize and track current and past client activity through custom workflows and pipelines with advanced tech features and AI tools. They're meant to help teams, departments and entire enterprises access the same up-to-date information through visually digestible dashboards.
Platform engineering, operationalizing AI, and cloud portability should demand the immediate attention of every CIO. Here's why.
CIOs face several specific, pivotal decisions this year - including the three non-negotiable trends, discussed below, shaping IT strategy right now. From the ascent of platform engineering to operationalizing AI, these trends should demand the immediate attention of every CIO, if they haven't already.
1) Platform engineering and internal developer platforms will allow CIOs to access transformative application development efficiency.
CIOs will increasingly look toward platform engineering strategies in 2024 - introducing internal developer platforms (IDPs) that streamline development and operational efficiency while equipping teams to deliver highly scalable, reliable, secure, and compliant applications.
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