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 technologies that can help safeguard data, such as artificial intelligence and automation.
IBM’s 2024 Cost of a Data Breach (CODB) Report studied 604 organizations across 17 industries in 16 countries and regions, and breaches that ranged from 2,100 to 113,000 compromised records, and a key finding was that use of modern technologies, on average, reduced breach costs by $2.2 million. And for CISOs and security teams seeking investment, talking dollars and cents — and not bits and bytes — is what will resonate with your audience.
Where are the savings being realized?
Cyber resilience is more than just disaster recovery; it’s an important component. A resilient program blends both proactive and reactive workflows, including the technology involved. And when the individual pieces work well together with the proper support, the result is a sum larger than its parts.
Indeed, the 2024 CODB Report found that when AI and automation were deployed extensively across the preventative or proactive workflows (e.g.,
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