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Datacom’s 5th Annual Cloud Report reveals that a lack of money is standing in the way of cyber security uplift.
A new report from IT services firm Datacom has revealed that while cyber security is a major investment focus for Australian businesses, most are falling short when it comes to having the necessary budget to boost cyber resilience.
According to Datacom’s fifth annual cloud report, less than 20 per cent of local businesses feel they have enough money to attain their cyber security goals.
Many Australian businesses are also finding the rise in the use of artificial intelligence in their workflows has only made things worse. 54 per cent of businesses polled said that AI has raised security concerns, and so are focusing on threat intelligence and security analytics.
Cloud spending is expected to continue to grow, with more than 40 per cent of businesses planning to boost spending in the area. Cyber security and AI are also key areas in which businesses aim to increase spending in.
That said, only a third of Australian businesses have a hybrid cloud strategy. The survey also revealed that cloud governance, skills & training, and correctly implementing cloud structures are key priorities.
“This reflects a growing understanding that cloud is a new mode of operating rather than just a destination,” Mike Walls, Director – Cloud at Datacom, said in a statement.
“If organisations get their platforms and cloud strategy right, the foundation is there for every other aspect of their business including better security and future growth.”
Datacom’s research partner Tech Research Asia polled more than 700 organisations in Australia and New Zealand.
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
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