Despite many companies claiming to be ready to deal with cyber security attacks, a recent report by Microsoft sheds light on just how vulnerable major companies are. The research categorizes companies into three main threat groups (no companies were directly named, for security reasons).
Thirteen percent of companies managed to pass the security tests and received a “Resilient” rating. These companies showed strong cybersecurity defenses. These companies were transparent to shareholders about potential problems, invested in experts and security software, and performed regular vulnerability checks.
Meanwhile, 48% of companies were found to be “Vulnerable,” and should consider bolstering their cybersecurity defenses. These organizations would benefit greatly from a bit more cybersecurity investment and transparency.
A staggering 39% of companies were found to be at high risk of attack. Without proper cybersecurity personnel and weak digital infrastructure. These companies could suffer from a debilitating attack at any moment.
The fact that only 13% of companies are deemed secure enough for today’s risks is reflected by a trend of business owners and corporate leaders being unaware of how to deal with threats. Microsoft’s study found that only 56% of leaders had adequate cybersecurity training, while another nearly half (49%) reported not understanding the cybersecurity skills their business needs.
Despite a rapidly increasing amount of cyber threats and research showing that it costs the UK over 87 billion pounds every year, only 55% of companies are currently ready for threats.
The 56% were unsure how long recovering from an attack takes (which, when considering that roughly half of companies pay ransoms during cybersecurity, points to a lack of training in how to handle attacks). Microsoft is also pushing AI enhancements as the most successful tool for combating threats, emphasizing that AI is a main factor in stopping cyber attacks.
“To become an AI superpower, the UK must maintain its position as a cybersecurity superpower. With so many organizations shown to be vulnerable to cybercrime, our research surfaces both the urgency of the issue and useful actions that leaders can take to boost the country’s cyber resilience.”