- Most companies now agree that faster recovery from incidents could give them an advantage.
- Lost revenue, brand damage, and lack of productivity are all risks
- Two in three companies aim for a combination of humans and artificial intelligence
Two in three businesses are at risk of losing more than £225,000 per hour during major cyber incidents, including 65% in the UK and Ireland and 68% globally, and this could be down to how they allocate security investments, new research claims.
PagerDuty’s findings come as an overwhelming majority (95%) of global business leaders agree that faster incident recovery and fewer incidents could give them a competitive advantage.
The good news is that things could be changing, with 68% of UK and Ireland organizations reporting greater operational resilience over the past year, and 71% globally, but what is working and how can all businesses catch up?
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Resilience is key to security investments
PagerDuty found that revenue isn’t the only damage businesses must deal with when faced with a cybersecurity or similar attack: 53% cite reputational damage as the biggest impact, and nearly half (48%) see lost productivity as an issue as well. Recovery costs (50%) and developer burnout (42%) were popular concerns globally.
As for how to be better prepared, four in five (79%) high-growth companies are increasing their resilience budgets, but for companies facing stagnant or declining revenue, only 48% are increasing their resilience budgets. Clearly, this is a priority investment focus.
“There is certainly a sliding scale in resources, based on what is feasible for any given business, but turning off the taps can spell disaster,” explained CIO Eric Johnson, emphasizing that not all companies are built the same.
In terms of where exactly to allocate investment, 41% believe AI could reduce disruptions by more than 20%, and 59% point to a balanced mix of human workers and AI agents in the next three years.
“A combination of human workers and AI agents can help relieve pressure on limited teams, and balanced approaches can effectively surface issues and accelerate analysis while preserving judgment, context, and accountability,” Johnson concluded.
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