- Survey of more than 600 large enterprises confirms disconnect between cyber preparedness and readiness
- Urgent need for improved awareness and cyber resilience strategies amid rising threats
NEW YORK, October 22, 2024 — Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, today released findings from its global Cyber Gauge 2024: Navigating the complex cybersecurity landscape survey, conducted with Amazon Web Services (AWS). The results reveal a disconnect between perceived and actual cyber readiness among global enterprises. This underscores the critical need for more robust cyber resilience strategies that protect against threats and ensure business continuity.
Despite 94% of organizations feeling prepared to mitigate cyberattacks, 71% believe they are likely to experience a disruptive incident within the next year that will impact their financial performance. This disconnect highlights the need for improved awareness and enhanced measures to handle sophisticated cyber threats.
Key findings highlight the challenges of the cyber threat landscape that organizations face:
- Evolving threat landscape: 52% of IT leaders are grappling with operational challenges like preparing for emerging threats such as nation-state and generative artificial intelligence (AI) attacks. Securing hybrid cloud environments (47%) and managing the complexity of operating multiple security solutions (42%) were also top concerns.
- High frequency of attacks: Over the last year, 54% of large organizations reported experiencing a cyberattack that disrupted IT systems or data. Of those, 61% faced four or more attacks, with Germany (71%), Canada (60%) and India (56%) as the top three most affected countries.
- Inadequate executive support: A significant 69% report a lack of support from business leaders for necessary security measures. Even greater, 73% indicated board-level disinterest in security readiness.
- Lack of alignment in regulatory preparedness: Despite 94% confidence in handling changing regulatory dynamics as regulatory pressures continue to increase on organizations to improve overall cyber resilience, 77% struggle with security and other risk-mitigating team alignment, and 72% lack clear business continuity roadmaps.
- Organizational constraints: 54% of organizations noted that remote work continues to strain their security teams, while cybersecurity budget restrictions (43%) and security skills shortages (43%) were also top challenges.
- Industry-specific challenges: Retail (61%), manufacturing (57%), and chemicals, oil, and gas (56%) sectors reported the highest incidence of cyberattacks. Government organizations experienced the highest frequency, with 74% reporting four or more attacks.
“The survey findings reveal a complex cyber threat landscape where businesses face persistent threats despite feeling prepared,” said Kris Lovejoy, Global Security & Resiliency Practice Leader, Kyndryl. “With more than half of organizations experiencing disruptive incidents in the last year, it is imperative that businesses make cyber resilience a board-level priority. Achieving this is not a one-time effort but an ongoing commitment to safeguarding our digital future.”
To learn more about how prepared large organizations are for these threats, read Cyber Gauge 2024: Navigating the complex cybersecurity landscape and explore Kyndryl’s security and resiliency offerings.
Methodology
Along with AWS, Kyndryl surveyed IT decision-makers from more than 600 large enterprises across seven industries and 12 countries to understand their preparedness for fast-changing cybersecurity threats.
About Kyndryl
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider, serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements often contain words such as “will,” “anticipate,” “predict,” “project,” “plan,” “forecast,” “estimate,” “expect,” “intend,” “target,” “may,” “should,” “would,” “could,” “outlook” and other similar words or expressions or the negative thereof or other variations thereon. All statements, other than statements of historical fact, including without limitation statements representing management's beliefs about future events, transactions, strategies, operations and financial results, may be forward-looking statements. These statements do not guarantee future performance and speak only as of the date of this press release and the company does not undertake to update its forward-looking statements. Actual outcomes or results may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties, including those described in the “Risk Factors” section of the company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission.
Kyndryl press contact
press@kyndryl.com
