NEWTON, Mass. & PETACH TIKVA, Israel--(BUSINESS WIRE)-- A new global report released today by CyberArk (NASDAQ: CYBR) shows how the tension between difficult economic conditions and the pace of technology innovation, including the evolution of artificial intelligence (AI), is influencing the growth of identity-led cybersecurity exposure. The CyberArk 2023 Identity Security Threat Landscape Report details how these issues - allied to an expected 240% growth in human and machine identities – have the potential to result in a compounding of ‘cyber debt’: where investment in digital and cloud initiatives outpaces cybersecurity spend, creating a rapidly expanding and unsecured identity-centric attack surface.
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AI Tool Use, Employee Churn and Economic Pressure Fuel the Identity Attack Surface (Graphic: Business Wire)
Economic Squeeze Allied to Pace of Digital Acceleration Puts Organizations at Risk
In 2022 organizations experienced growing cyber debt, where security spend over the pandemic period lagged investment in broader digital business initiatives. In 2023, levels of cyber debt are at risk of compounding, driven by an economic squeeze, elevated levels of staff turnover, a consumer spend downturn and an uncertain global environment. With investment in digital and cloud initiatives still ongoing as business leaders seek to unlock greater efficiencies and innovation, these factors have had knock-on effects to cybersecurity.
The 2023 Threat Landscape
Report findings reveal upcoming areas of identity and cybersecurity concern this year.
Expanded Identity-Centric Attack Surface
Identities – both human and machine – are at the heart of all, or nearly all, attacks. Nearly half of identities require sensitive access to perform their roles and are a favored attack vector as a result. The report found that critical areas of the IT environment are inadequately protected and identifies the identity types that represent significant risk.
“The organizational desire to drive ever-greater business efficiencies and innovation remains undiminished, even as cutbacks in staffing and macro-economic forces are creating significant pressures,” said Matt Cohen, chief executive officer, CyberArk. “Business transformation, driven by digital and cloud initiatives, continues to result in a surge in new enterprise identities. While attackers are constantly innovating, compromising identities remains the most effective way to circumvent cyber defenses and access sensitive data and assets. Such profound risk puts the issue of ‘who and what to trust’ at the forefront of efforts to prevent cyber debt from compounding, and to build long-term cyber resilience.”
What Can Be Done?
About the Report
The CyberArk 2023 Identity Security Threat Landscape Report represents the findings of a worldwide survey across private and public sector organizations of 500 employees and above. It was conducted by market researchers Vanson Bourne amongst 2,300 cybersecurity decision makers. Respondents were based in Brazil, Canada, Mexico, the US, France, Germany, Italy, the Netherlands, Spain, the UK, Australia, India, Israel, Japan, Singapore and Taiwan. To learn more, visit: https://www.cyberark.com/threat-landscape/.
About CyberArk
CyberArk (NASDAQ: CYBR) is the global leader in Identity Security. Centered on intelligent privilege controls, CyberArk provides the most comprehensive security offering for any identity – human or machine – across business applications, distributed workforces, hybrid cloud environments and throughout the DevOps lifecycle. The world’s leading organizations trust CyberArk to help secure their most critical assets. To learn more about CyberArk, visit https://www.cyberark.com, read the CyberArk blogs or follow on LinkedIn, Twitter, Facebook or YouTube.
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Source: CyberArk