Wipro’s Annual State of Cybersecurity Report Finds Increasing Adoption of AI in Cybersecurity to Tackle Advanced Adversaries
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today released its annual State of Cybersecurity Report (SOCR) that presents changing perspectives of cybersecurity globally.
The report provides fresh insights on how Artificial Intelligence (AI) will be leveraged as part of defender stratagems as more organizations lock horns with sophisticated cyberattacks and become more resilient. There has been an increase in R&D with 49% of the worldwide cybersecurity related patents filed in the last four years being focussed on AI and Machine Learning (ML) application. Nearly half the organisations are expanding cognitive detection capabilities to tackle unknown attacks in their Security Operations Center (SOC).
The report also illustrates a paradigm shift towards cyber resilience amid the rise in global remote work. It considers the impact of COVID-19 pandemic on cybersecurity landscape around the globe and provides a path for organizations to adapt with this new normal.
The fourth edition of the SOCR saw a global participation of 194 organizations and 21 partner academic, institutional and technology organizations over four months of research.
Additional highlights from State of Cybersecurity Report, include:
Global macro trends in cyber security
- Nation State Attacks Target Private Sector: 86% of all nation-state attacks fall under espionage category, and 46% of them are targeted towards private companies.
- Evolving threat patterns have emerged in the Consumer and Retail Sectors: 47% of suspicious social media profiles and domains were detected active in 2019 in these sectors.
Cyber Trends sparked by COVID-19 Global Pandemic
- Cyber Hygiene proven difficult during remote work enablement: 70% of the organizations faced challenges in maintaining endpoint cyber hygiene and 57% in mitigating Virtual Private Network (VPN) and Virtual Desktop Infrastructure (VDI) risks.
- Emerging post-COVID Cybersecurity priorities: 87% of the surveyed organizations are keen on implementing zero trust architecture and 87% are planning to scale up secure cloud migration.
Micro Trends: An inside-out enterprise view
- Low Confidence in Cyber Resilience: 59% of the organizations understand their cyber risks but only 23% of them are highly confident about preventing cyberattacks.
- Strong Cybersecurity spend due to Board Oversight & Regulations: 14% of organizations have a security budget of more than 12% of their overall IT budgets.
Micro Trends: Best Cyber practices to emulate
- Laying the foundation for a Cognitive SOC: 49% of organizations are adding cognitive detection capabilities to their SOC to tackle unknown attacks.
- Concerns about OT Infrastructure attacks increasing: 65% of organizations are performing log monitoring of Operation Technology (OT) and Internet of Things (IoT) devices as a control to mitigate increased OT Risks.
Meso Trends: An overview on Collaboration
- Fighting cyber-attacks demands stronger collaboration: 57% of organizations are willing to share only Indicators of Compromise (IoCs) and 64% consider reputational risks to be a barrier to information sharing.
- Cyber-attack simulation exercises serve as a strong wakeup call: 60% participate in cyber simulation exercises coordinated by Industry regulators, National Computer Emergency Response Team (CERTs) and third-party service providers and 79% organizations have dedicated cyber insurance policy in place.
Future of Cybersecurity
- 5G security is the emerging area for patent filing: 7% of the worldwide patents filed in the cyber domain in the last four years have been related to 5G security.
Vertical insights by industry
- Banking, Financial Services & Insurance: 70% of financial services enterprises said that new regulations are fuelling increase in security budgets, with 54% attributing higher budgets to board intervention.
- Communications: 71% of organizations consider cloud-hosting risk as a top risk.
- Consumer: 86% of consumer businesses said email phishing is a top risk and 75% enterprises said a bad cyber event will lead to damaged band reputation in the marketplace.
- Healthcare & Life Sciences: 83% of healthcare organizations have highlighted maintaining endpoint cyber hygiene as a challenge, 71% have highlighted that breaches reported by peers has led to increased security budget allocation.
- Energy, Natural Resources and Utilities: 71% organizations reported that OT/IT Integration would bring new risks.
- Manufacturing: 58% said that they are not confident about preventing risks from supply chain providers.
Bhanumurthy B.M, President and Chief Operating Officer, Wipro Limited said, “There is a significant shift in global trends like rapid innovation to mitigate evolving threats, strict data privacy regulations and rising concern about breaches. Security is ever changing and the report brings more focus, enablement, and accountability on executive management to stay updated. Our research not only focuses on what happened during the pandemic but also provides foresight toward future cyber strategies in a post-COVID world.”
To access the full report, click here.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Piper Sandler Advises SK Capital on Sale of Niacet to Kerry21.6.2021 20:20:00 CEST | Press release
Piper Sandler & Co. chemicals & materials investment banking group (The Valence Group) announced today that it has advised SK Capital Partners on the sale of its portfolio company, Niacet Corporation, to Kerry Group plc for $1.015bn (€853m) on a cash-free, debt-free basis, subject to customary closing adjustments. Following the acquisition, Niacet will be integrated into Kerry’s global food protection and preservation platform. The transaction is expected to close by the end of the third quarter of 2021, subject to customary closing conditions and regulatory approvals. Niacet is a global market leader in technologies for preservation. It has clear leadership positions in Bakery and Pharma, and cost-effective low-sodium preservation systems for Meat and plant-based food across both conventional and clean label solutions. Niacet is differentiated by its proprietary drying and granulation process technologies in its key market categories of Bakery, Meat and Pharma. The business has custom
Pattern Computer Discovers New and Novel Methods for Reducing Flight Delays21.6.2021 19:49:00 CEST | Press release
Pattern Computer,® Inc. (PCI) is excited to announce the discovery of new insights that can lead to significant reductions in the flights delays experienced across the United States. According to the Federal Aviation Association (FAA)/Nextor, the estimated annual costs of delays, which includes direct costs to airlines and passengers, lost demand and indirect costs, in 2018 was $28 billion. Based on the Bureau of Transportation statistical data, 34% of all flights in 2018 experienced some type of departure delay and 18% of all flights experienced delays of 15 minutes or more, with an average delay of 66 minutes. The direct costs of those delays to airlines and passengers was $4.5 billion. PCI’s team assembled a novel, integrated dataset which encompassed the FAA flight, aircraft and operational network data, and relevant US national weather data for the 7.2 million US commercial passenger flights in 2018. Utilizing the Pattern Discovery Engine®, the PCI team was able to uncover a numbe
Sharjah Honours Kenyan Humanitarian Outfit, RefuSHE, for Pioneering Contributions in Child and Girl-Focused Refugee Development21.6.2021 15:45:00 CEST | Press release
RefuSHE, a Nairobi-based humanitarian agency founded in 2008 to address the significant, unmet needs for child and girl-focused refugee services in Kenya, was conferred with the 2021 Sharjah International Award for Refugee Advocacy and Support (SIARA) at a virtual ceremony. The $136,000 award, now in its fifth edition, is given annually by The Big Heart Foundation (TBHF), a UAE-based global humanitarian organization dedicated to helping refugees and people in need worldwide, in collaboration with United Nations High Commissioner for Refugees (UNHCR). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210621005511/en/ During a training course provided by RefuSHE to refugee girls (Photo: AETOSWire) With the COVID-19 pandemic deepening the vulnerabilities of marginalized women and girls, the SIARA selection committee acknowledged the leading contributions of RefuSHE, a girl- and woman-centric humanitarian organization, for its effo
deWiz Making a Buzz After Closing out Series-A Funding With More Than 5 Million USD Investment21.6.2021 15:33:00 CEST | Press release
After more than five years of development, deWiz’s new wearable technology is going to market after closing out its Series-A funding round with more than 5M USD in new investment. The funding will fuel deWiz’s go-to-market launch strategy with a robust marketing plan, staffing to support growth and resources to ensure a healthy supply chain. Additionally, investment was synced with a new composition of the board of directors for deWiz, including Chairman of the Board, CEO and co-founder Christian Bergh; CTO and co-founder Markus Westerberg; World Golf Hall of Fame and business entrepreneur Annika Sörenstam; Newton Aguiar; and Erik Näsström. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210621005497/en/ deWiz wearable tech, a new golf training aid that helps golfers swing, feel and improve more quickly by providing instantaneous feedback via an electric pulse. (Photo: Business Wire) The science behind deWiz minimizes the gue
Membership Collective Group Announces Filing of Registration Statement for Proposed Initial Public Offering21.6.2021 15:32:00 CEST | Press release
Membership Collective Group (“MCG”), a global membership platform comprised of Soho House, Soho Works, The Ned, Scorpios Beach Club and Soho Home, and related digital platforms, today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (“SEC”) relating to a proposed initial public offering of shares of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. MCG has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “MCG”. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210621005494/en/ Soho House New York (Graphic: Business Wire) J.P. Morgan and Morgan Stanley will serve as joint lead book runners for the proposed offering. Goldman Sachs & Co. LLC, BofA Securities and HSBC will be joint book runners. Citibank will serve as a co-manager. The
American Express Plans Live Audio Webcast of Second Quarter 2021 Earnings Conference Call21.6.2021 15:30:00 CEST | Press release
American Express Company (NYSE: AXP) plans to host a live audio webcast of its earnings conference call at 8:30 a.m. (ET) on Friday, July 23, 2021, to discuss second quarter 2021 financial results. The webcast will be accessible to the general public through the American Express Investor Relations website at https://ir.americanexpress.com/. The financial results and presentation materials are scheduled to be released and posted on the website at approximately 7 a.m. (ET) prior to the conference call, and an audio replay will be available on the website following the call. ABOUT AMERICAN EXPRESS American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. Vie
The Blood Center of New Orleans Cooperates With Biolog-id to Enhance Visibility, Availability, and Traceability of Life-saving Blood Components21.6.2021 15:17:00 CEST | Press release
Biolog-id LLC, a developer and service provider of connected healthcare solutions, announced today its partnership with The Blood Center of New Orleans. Biolog-id’s cutting-edge technology will provide digital visibility to all platelet types in accordance with the new FDA bacterial risk control guidance. The biolog-id solution will support operational, distribution and planning decisions across the entire lifecycle of these strategically important products. The use of the biolog-id solution for the rare red blood cells inventory will streamline the management of this complex inventory, facilitating better internal cooperation and optimizing the fulfilment of customer orders. “We are firm believers in leveraging technology to improve the efficiency, quality, and safety of the blood supply,” said Billy Weales, President & CEO at The Blood Center. “Our cooperation with biolog-id allows us to achieve these goals with two of our most critical blood components – platelets and rare red blood