Category Archives: Cost of a Data Breach

Skills shortage directly tied to financial loss in data breaches

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The cybersecurity skills gap continues to widen, with serious consequences for organizations worldwide. According to IBM’s 2024 Cost Of A Data Breach Report, more than half of breached organizations now face severe security staffing shortages, a whopping 26.2% increase from the previous year. And that’s expensive. This skills deficit adds an average of $1.76 million in […]

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Addressing growing concerns about cybersecurity in manufacturing

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Manufacturing has become increasingly reliant on modern technology, including industrial control systems (ICS), Internet of Things (IoT) devices and operational technology (OT). While these innovations boost productivity and streamline operations, they’ve vastly expanded the cyberattack surface. According to the 2024 IBM Cost of a Data Breach report, the average total cost of a data breach in […]

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The cybersecurity skills gap contributed to a $1.76 million increase in average breach costs

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Understaffing in cybersecurity — the “skills gap” — is driving up the cost of data breaches in recent years, according to a decade of reports by IBM. The 2024 IBM Data Breach Report found that more than half of breached organizations experienced severe security staffing shortages, a 26.2% increase from the previous year. They found […]

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Is AI saving jobs… or taking them?

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Artificial intelligence (AI) is coming to take your cybersecurity job. Or, AI will save your job. Well, which is it? As with all things security-related, AI-related and employment-related, it’s complicated. How AI creates jobs A major reason it’s complicated is that AI is helping to increase the demand for cybersecurity professionals in two broad ways. […]

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Cost of a data breach: Cost savings with law enforcement involvement

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For those working in the information security and cybersecurity industries, the technical impacts of a data breach are generally understood. But for those outside of these technical functions, such as executives, operators and business support functions, “explaining” the real impact of a breach can be difficult. Therefore, explaining impacts in terms of quantifiable financial figures […]

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How to embrace Secure by Design principles while adopting AI

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The rapid rise of generative artificial intelligence (gen AI) technologies has ushered in a transformative era for industries worldwide. Over the past 18 months, enterprises have increasingly integrated gen AI into their operations, leveraging its potential to innovate and streamline processes. From automating customer service to enhancing product development, the applications of gen AI are […]

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Cost of data breaches: The business case for security AI and automation

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As Yogi Berra said, “It’s déjà vu all over again.” If the idea of the global average costs of data breaches rising year over year feels like more of the same, that’s because it is. Data protection solutions get better, but so do threat actors. The other broken record is the underuse or misuse of […]

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Cost of a data breach: The industrial sector

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Industrial organizations recently received a report card on their performance regarding data breach costs. And there’s plenty of room for improvement. According to the 2024 IBM Cost of a Data Breach (CODB) report, the average total cost of a data breach in the industrial sector was $5.56 million. This reflects an 18% increase for the […]

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Cost of a data breach 2024: Financial industry

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According to the IBM Cost of a Data Breach 2024 report, the average global breach cost has reached $4.88 million — a significant increase over last year’s $4.45 million and the biggest jump since the pandemic. For financial industry enterprises, costs are even higher. Companies now spend $6.08 million dealing with data breaches, which is […]

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Cost of a data breach: The healthcare industry

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Cyberattacks grow every year in sophistication and frequency, and the cost of data breaches continues to rise with them. A new report by IBM and the Ponemon Institute, the 2024 Cost of Data Breach Study, details the financial impacts of attacks across multiple industries. The global average cost of a data breach reached an all-time […]

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