Cybersecurity Chiefs Transforming Roles to Drive Business Growth
Cybersecurity leaders, or 'Secure Creators', are transforming their roles to drive business growth and innovation, according to a new report. They are not just responders but co-architects, involved earlier and more deeply in key business initiatives. This shift comes despite a decline in cybersecurity budgets and challenges in communicating its value.
The report highlights that Secure Creators contribute significantly to growth, report fewer cyber incidents, and respond faster to threats. They achieve 1.5 to 2 times more positive impact on innovation and market responsiveness compared to their less proactive peers. This is due to their excellence in technology adoption, communication, and risk minimization.
Involved earlier and more deeply in business initiatives, Secure Creators help implement AI securely. This improves brand perception, customer experience, and market expansion. Cybersecurity functions account for 11% to 20% of the value produced by enterprise-wide business initiatives they are involved in, contributing a median value of $36m per business initiative.
However, cybersecurity budgets have declined from 1.1% to 0.6% of annual revenue in the past two years. Only 13% of CISOs are consulted early when urgent strategic decisions are made. This is despite the potential of embedding security into business planning from the start to increase speed of adoption and build consumer trust.
The report underscores the need for CISOs to expand their role to the executive level. By doing so, they can drive business growth, improve cybersecurity, and increase their influence in strategic decision-making. This is crucial as the rapid adoption of AI presents both opportunities and challenges in the cybersecurity landscape.
