Align Cybersecurity Budgets with Growth Goals: Kaspersky Insights for Indian Businesses

In order to be ready for these attacks, Indian businesses need to increase their cyber security budget by 20% if they want to grow by 20%.

A senior Kaspersky executive has stated that in order to ensure sustainable expansion in the face of increasing digitalization and the risks associated with it, Indian businesses must align their cyber security budgets with their growth objectives. For businesses to grow, the emergence of cutting-edge technologies like GenAI and artificial intelligence is crucial.

"Digitalization is necessary for expanding businesses. According to Adrian Hia, Kaspersky's Managing Director for the APAC region, Adrian Hia told PTI, "You are not going to have that business growth value if you do not digitize." Digitalization of businesses, on the other hand, increases the attack surface area, allowing for risks like sophisticated cyberattacks. According to Hia, if Indian businesses want to grow by 20%, they need to increase their cyber security budget by 20% to be ready for these attacks. In addition, he stated that organizations must maintain their data and systems while pursuing digital transformation. According to a SonicWall report released earlier this month, malware attacks in India will rise 11% to 13,44,566 in 2024, up from 12,13,528 a year ago. According to Kaspersky, a cyber security company, the number of targeted or brute force attacks is increasing in India. By 2023, every third cyber incident will be attributed to ransomware. The amount of data exposed on the internet—whether through applications or web server data—has increased by nearly tenfold, according to Hia.

"In India, data from 3 billion smartphones has resulted from the proliferation of smartphones, with everyone owning two smartphones. As a result, the attack surface has grown," he added. However, in order to remain competitive in the modernization and growth of businesses, organizations must adopt cutting-edge technologies.

Artificial intelligence, according to Hia, is a "double-edged sword." Despite the persistent threat of data exposure, the business enablers have incorporated cutting-edge technologies like AI to boost profitability. The Indian government is also working in this direction, taking into account the rapid adoption of technology and potential threats.

Source - https://ciso.economictimes.indiatimes.com/news/ot-security/indian-biz-need-to-align-cyber-security-budgets-with-growth-objectives-says-kaspersky/112620081