Businesses are more likely to purchase security solutions from vendors that prioritize innovation and sell leading-edge solutions.
Security innovation was cited as a key deciding factor for organizations looking to purchase security solutions. In a new research study published by Intel with the Ponemon Institute, it found that 64 percent of organizations were more likely to buy from a leading-edge technology provider.
Gartner projects that $172 billion will be spent on cybersecurity in 2022, with organizations more keenly aware than ever of the threats to their network and connected devices.
Respondents to the survey considered security automation, security at the silicon level, and cloud migration to be the top areas of security innovation. Education and training of staff was also cited as an important area of innovation.
When discussing security practices which support innovation, 71 percent of respondents considered a technology providers ability to adapt to a changing threat landscape as the most important factor.
Developing a security strategy that supports industry standards and an open ecosystem, such as Trusted Platform Module and Peripheral Component Interconnect Express, was also highly valued, with 66 percent of respondents rating it an important factor.
“The security threat landscape continues to evolve, becoming more sophisticated and challenging for organizations to defend against,” said Suzy Greenberg, vice president, Intel Product Assurance and Security.
This is especially true after two years of growing ransomware attacks, which have started to move from high-profile cases to midmarket organizations, according to cybersecurity expert and consultant at UHY LLP, Richard Peters.
Of the 36 percent of organizations which use hardware-assisted security solutions, 85 percent said that hardware-based security was of high importance. “Today more than ever, companies are demanding assurance capabilities and hardware-enhanced security solutions that help protect the entire compute stack,” said Greenberg.
Over half of the organizations surveyed refreshed their security strategy because of the pandemic, as hybrid or work-from-home models introduced new threats to internal systems. How organizations interact with customers has also changed, requiring the implementation of more security at end points.
“Pandemic pressures motivated many organizations to innovate their cybersecurity practices,” said the Ponemon Institute in the study. “With very little advance warning, organizations were forced to make changes to their cybersecurity practices because of a remote workforce.”
Other reasons for a change of security strategy included an expanded use of artificial intelligence tools for security, heightened awareness among employees about cyber hygiene, and alignment of goals among security and business leaders.