LevelBlue Report: Retail Leaders Optimistic About Dynamic Computing Innovation Amid Rising Cybersecurity Risks

LevelBlue, a leading provider of managed network security, detection and response, strategic consulting, and threat intelligence, has unveiled its 2024 Futures Report: Cyber Resilience in Retail. This report highlights the dual-edged nature of dynamic computing for retail businesses, which brings both significant opportunities for technological advancement and new security challenges that demand enhanced cybersecurity measures.

“The era of dynamic computing, driven by IoT and 5G technologies, offers substantial opportunities and risks for retail organizations,” said Theresa Lanowitz, Chief Evangelist of LevelBlue.

The report reveals a strong sense of optimism within the retail sector regarding dynamic computing’s potential. An impressive 86% of respondents expect improvements in operational performance over the next three years, particularly in AI and supply chain optimization. However, 82% acknowledge the accompanying increase in risk.

Despite these risks, 77% believe the benefits of dynamic computing outweigh the cybersecurity challenges. Retail leaders are keen to invest in these technologies, though 62% describe themselves as cautious or late adopters of AI.

The study also underscores significant concerns around supply chain vulnerabilities, with 67% of respondents expressing worry about a lack of visibility and 75% struggling to evaluate supply chain risks. Furthermore, 65% of respondents feel that cyber resilience is not a leadership priority, and 74% believe that their cybersecurity efforts are insufficiently integrated into their budgets and strategies.

Key findings from the report include:

  • 65% report that leadership does not prioritize cyber resilience.
  • 75% say their organizations do not invest specifically in cyber resilience beyond basic cybersecurity.
  • Only 37% integrate cybersecurity into their computing planning or budget.
  • 72% see cybersecurity as an afterthought, and 74% find it challenging to assess potential attack impacts.
  • 67% experience siloed efforts, 65% lack formal incident response plans, and 62% do not have standardized processes.
  • 61% have minimal visibility into their IT estate, and 74% are hindered by new regulations.
  • 80% face barriers impacting their cybersecurity strategies, and 78% struggle to find external guidance.

To enhance cyber resilience in retail, LevelBlue suggests five key steps: identify barriers to resilience, design security into systems, align cyber investments with business needs, build a support ecosystem, and transform cybersecurity strategies.

For the full findings of the 2024 LevelBlue Futures Report: Cyber Resilience in Retail, visit this link. The report offers insights into balancing innovation with risk management in the evolving retail landscape. This release follows the core 2024 LevelBlue Futures Report published in May 2024.

For more information on LevelBlue’s managed security, consulting, and threat intelligence services, visit www.levelblue.com.

Methodology
The research, conducted by FT Longitude in March 2024, surveyed 1,050 C-suite and senior executives across 18 countries and seven industries, including retail. The retail segment comprised 171 respondents.

About LevelBlue
LevelBlue provides award-winning managed security services, strategic consulting, and threat intelligence, offering enhanced transparency and real-time threat insights. We use AI to improve decision-making and manage risk effectively, setting the standard for cybersecurity. Learn more at www.levelblue.com.

Source link

Share your love

Newsletter Updates

Enter your email address below and subscribe to our newsletter