Securing the Future - Praxis
Securing the Future

Securing the Future

Business leaders are seeking more effective and integrated strategies to combat the rising tide of ransomware, malware, phishing, and other digital threats, and platformization is changing the game

 

As cyberattacks continue to escalate in scope and scale, organisations across the globe are rethinking their approach to information security. From the C-suite to security operations centres (SOCs), leaders are seeking more effective and integrated strategies to combat the rising tide of ransomware, malware, phishing, and other digital threats.

Data Breach Average Cost is $9.48 million

The growth of Cloud computing, mobile devices and apps, AI, the Internet of Things, and edge computing creates even more vulnerabilities to attract hackers and cybercriminals. According to IBM research, the cost of the average data breach now stands at $4.45 million globally, up 15% in a year. This average cost amounts as high as $9.48 million in the US alone!

Patchwork Response

In response to rising cyberattacks, many enterprises have adopted an ad hoc approach, adding individual security solutions as needed to address specific challenges like ransomware, malware, and phishing. However, this patchwork of point solutions fails to align with a broader security strategy or address all cyber threats and vulnerabilities comprehensively. Over time, this fragmented security posture creates a fragile defence system.

According to a latest research by IBM and Palo Alto Networks increasing cyberattacks require organisations to enhance their resilience through a platform-wide strategy that focuses on efficiency and automation. This approach aims to scale up the organisation’s ability to withstand and respond to cyber threats. The mention of a report in partnership with Palo Alto Networks indicates a collaborative effort in addressing cybersecurity challenges.

$10.5tr Economic Impact of Cybercrime

The stakes have never been higher. By 2025, the total annual economic impact of cybercrime is estimated to exceed a staggering $10.5 trillion. And with SOC teams struggling to keep up – reporting that 51% of daily alerts go unreviewed – the need for a transformative solution is clear, per the research.

The answer lies in platformization – a foundational and far-reaching strategy that is poised to redefine the cybersecurity landscape. By integrating security solutions upfront on a unified platform, organisations can achieve defence outcomes that simply can’t be reached through incremental, patchwork approaches.

\[Platformization = Simplify + Amplify + Unify\]

“Platformization enables enterprises to simplify, amplify, and unify security efforts and stakeholder partnerships in ways that can’t be done when solutions designed for standalone deployment are improvised for integration,” explains the report.

This holistic, platform-based approach addresses a critical pain point for many organisations. The average company currently manages a complex security posture, engaging with more than 13 vendors and deploying 31 different security solutions. This fragmentation leads to fragility, with no single, enterprise-wide view of security risk.

But platformization is changing the game. By consolidating security tools on a common, AI-powered platform, organisations can dramatically improve incident response times, security event remediation, and overall cybersecurity efficiency. In fact, recent research found that platformization-powered security teams are 34% more efficient, and organisations can lower their annualised security platform costs by 10%.

Leveraging Generative AI

Crucially, platformization also unlocks the potential of emerging technologies like generative AI. While many executives view AI as a potential security risk, a platform-based approach can transform it into a powerful security asset – providing a holistic, dynamic view of the entire security posture and automating key threat detection and mitigation workflows.

As organisations accelerate their digital transformation journeys, platformization is poised to become the foundation for a new era of hybrid, secure-by-design innovation. By weaving security seamlessly into hybrid cloud and generative AI initiatives, enterprises can unlock the full value of their digital investments while mitigating critical cyber risks.

The road ahead is not without challenges. But for those organisations willing to embrace the platformization paradigm, the future of cybersecurity has never been brighter.

 

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