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Home Technology Security

CISOs fail to use cyber risk quantification to drive decision-making

FutureCIO Editors by FutureCIO Editors
April 3, 2023
Photo by mali maeder: https://www.pexels.com/photo/gray-windmaster-2-device-reading-at-12-4-42108/

Photo by mali maeder: https://www.pexels.com/photo/gray-windmaster-2-device-reading-at-12-4-42108/

A Gartner survey reveals that 50% of chief information security officers (CISOs) will adopt the human-centric design to reduce cybersecurity operational friction; large enterprises will focus on implementing zero-trust programs; and half of cybersecurity leaders will have unsuccessfully tried to use cyber risk quantification to drive enterprise decision making.

Richard Addiscott

Gartner senior director analyst, Richard Addiscott, says CISOs and their teams must be laser-focused on what’s happening today to ensure their organisations are as secure as possible. In addition, they also need to make time to look up from their daily challenges and scan the horizon to see what’s coming down the track that might impact their security programs in the next couple of years.

“These predictions are a signal flare for some of those things we see emerging and should be considered by any CISO looking to build an effective and sustainable cybersecurity program.” Richard Addiscott

Recommendations for 2023-2024

Through 2027, 50% of CISOs will formally adopt human-centric design practices into their cybersecurity programs to minimize operational friction and maximize control adoption.

Gartner research shows that over 90% of employees who admitted undertaking a range of unsecured actions during work activities knew that their actions would increase the risk to the organisation but did so anyway. Human-centric security design is modelled with the individual — not technology, threat or location – as the focus of control design and implementation to minimize friction.

By 2024, modern privacy regulation will blanket the majority of consumer data, but less than 10% of organisations will have successfully weaponized privacy as a competitive advantage.

Organisations are beginning to recognize that a privacy program can enable them to use data more broadly, differentiate from competitors, and build trust with customers, partners, investors and regulators. Gartner recommends security leaders enforce a comprehensive privacy standard in line with GDPR to differentiate in an increasingly competitive market and grow unhindered.

By 2026, 10% of large enterprises will have a comprehensive, mature and measurable zero-trust program in place, up from less than 1% today.

A mature, widely deployed zero-trust implementation demands integration and configuration of multiple different components, which can become quite technical and complex. Success is highly dependent on the translation to business value. Starting small, an ever-evolving zero-trust mindset makes it easier to better grasp the benefits of a program and manage some of the complexity one step at a time.

By 2027, 75% of employees will acquire, modify or create technology outside IT’s visibility – up from 41% in 2022.

The CISO role and purview of responsibility is shifting from being control owners to risk decision facilitators. Reframing the cybersecurity operating model is key to the changes coming. Gartner recommends thinking beyond technology and automation to deeply engage with employees to influence decision-making and ensure they have the appropriate knowledge to do in an informed way.

By 2025, 50% of cybersecurity leaders will have tried, unsuccessfully, to use cyber risk quantification to drive enterprise decision-making.

Gartner research indicates that 62% of cyber risk quantification adopters cite soft gains in credibility and cyber risk awareness, but only 36% have achieved action-based results, including reducing risk, saving money or actual decision influence. Security leaders should focus firepower on quantification that decision makers ask for, instead of producing self-directed analyses they have to persuade the business to care about.

By 2025, nearly half of cybersecurity leaders will change jobs, 25% for different roles entirely due to multiple work-related stressors.

Accelerated by the pandemic and staffing shortages across the industry, the work stressors of cybersecurity professionals are rising and becoming unsustainable. Gartner suggests that while eliminating stress is unrealistic, people can manage challenging and stressful jobs in cultures where they are supported. Changing the rules of engagement to foster cultural shifts will help.

By 2026, 70% of boards will include one member with cybersecurity expertise.

For cybersecurity leaders to be recognized as business partners, they need to acknowledge board and enterprise risk appetite. This means not only showing how the cybersecurity program prevents unfavourable things from happening, but how it improves the enterprise’s ability to take risks effectively. Gartner recommends CISOs get ahead of the change to promote and support cybersecurity to the board and establish a closer relationship to improve trust and support.

Through 2026, more than 60% of threat detection, investigation and response (TDIR) capabilities will leverage exposure management data to validate and prioritize detected threats, up from less than 5% today.

As organisational attack surfaces expand due to increased connectivity, the use of SaaS and cloud applications, companies require a broader range of visibility and a central place to constantly monitor for threats and exposure. TDIR capabilities provide a unified platform or ecosystem of platforms where detection, investigation and response can be managed, giving security operations teams a complete picture of risk and potential impact.

Related:  PodChats for FutureCIO: Why patch management matters in 2022
Tags: CISOcyber risk quantificationcybersecurity
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