ERGO Group AG’s Post

🚨 The Cost of a Data Breach Skyrockets 🚀 In 2024, the cost of a data breach has reached an all-time high! 💥 According to the Cost of a Data Breach Report 2024 by IBM and Ponemon Institute, the global average cost of a breach has surged 10% year-over-year, now sitting at US$4.88 million. 📊 Shadow data—untracked or unmanaged sensitive data—played a role in 1 out of every 3 breaches, underscoring the growing challenges of safeguarding complex data environments. Key Insights: 🔍 The report surveyed 604 organizations across 17 industries and 16 regions, analyzing breaches involving 2,100 to 113,000 records. 🔍 Organizations using AI and security-as-a-service saved millions, proving automation’s critical role in mitigating threats. 🔍 Without AI, it takes longer to detect and contain breaches, leading to higher costs and greater risks. The report highlights a cybersecurity staffing crisis, with over 50% of breached organizations facing severe talent gaps. As cyber threats grow, reliance on outdated methods only delays responses, emphasizing the urgency of AI-driven solutions. 💡 The takeaway? Proactively leveraging AI and automation isn’t just about preventing breaches—it’s about reducing costs and ensuring resilience in today’s high-stakes cyber landscape. Want to fortify your data protection strategy? Explore how Jolera’s cutting-edge Data and AI solutions can help your organization secure its future. Learn more 👉 https://hubs.li/Q02YJb9G0 #CyberRisk #DataProtection #AI #Automation

This shouldn't be a surprise to anyone. We've seen criminals shifting to data theft and using that to drive other attacks such as invoicing fraud. Don't let that huge number lull you non massive enterprises into a false sense of security. You are even more vulnerable and while the cost may not be as high, would your business survive a $250,000 breach cost? That is a very reasonable number for SMBs experiencing these and other types of attacks. You are NEVER too small to be attacked you are only too small to make the news. Do you know who to call when you experience a cyber 911 type event? If your answer doesn't involve a team that handles dozens of attacks per month, you'd better get some help BEFORE it happens. This is where BOXX and my Hackbusters team comes in. We have insurance and non-insurance solutions that can give the peace of mind that you have someone in your corner and you know who to call. Look, even if you aren't a client, call me, I will ALWAYS help.

🛡 𝐀𝐈 𝐓𝐨𝐨𝐥𝐬 𝐟𝐨𝐫 𝐂𝐲𝐛𝐞𝐫 𝐑𝐢𝐬𝐤 𝐀𝐬𝐬𝐞𝐬𝐬𝐦𝐞𝐧𝐭 In 2024, assessing and managing cyber risks is more critical than ever, and AI tools are leading the charge in this domain. Here are the top AI tools that are helping organizations stay ahead of cyber threats: 🔍 𝐁𝐢𝐭𝐒𝐢𝐠𝐡𝐭 Provides continuous monitoring and security ratings that give a clear picture of an organization’s cybersecurity posture, helping to assess and manage risk effectively. https://www.bitsight.com/ 📊 𝐑𝐢𝐬𝐤𝐋𝐞𝐧𝐬 Offers cyber risk quantification, allowing businesses to measure and manage cyber risk in financial terms, making it easier to prioritize security investments. https://www.risklens.com/ 🛡 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝 Delivers comprehensive security ratings and detailed insights into vulnerabilities, helping organizations understand and mitigate potential cyber risks. https://lnkd.in/gaXjc5yV 💼 𝐔𝐩𝐆𝐮𝐚𝐫𝐝 Provides risk assessment and monitoring across digital assets, third-party vendors, and supply chains, ensuring that cyber risks are identified and addressed. https://www.upguard.com/ ⚙️ 𝐑𝐚𝐩𝐢𝐝7 Combines vulnerability management with threat intelligence to provide actionable insights for reducing cyber risk across an organization’s digital environment. https://www.rapid7.com/ These AI tools are essential for organizations looking to bolster their cybersecurity efforts by proactively assessing and mitigating risks in real time. 🛡🚀 #CyberRisk #AI #BitSight #RiskLens #SecurityScorecard #UpGuard #Rapid7

Some relevant important topics to to consider in 2024: ✔️The top priority is cybersecurity The Security Navigator 2024 records some sobering indications of a rise in threats. For example, the number of Cy-X victims increased by 46% during 2023. The increasing numbers might explain the above statistic that 80% of CIOs are escalating their spend on cybersecurity. Failure to address this risk can lead to business closure, financial losses, reputational damage and regulatory fines. ✔️Address the new GenAI landscape CIOs must be vigilant about AI. Even if you don’t deploy it proactively, it might come to you via your employees. So, with the support of the CISO, you must keep the AI journey moving forward responsibly – and also be mindful of the regulatory burden imposed by forthcoming legislation such as the EU AI Act and the US Executive Order on AI. ✔️Manage the growing IT skills shortage The tasks of the IT department are becoming ever more complex. With the classic network perimeter practically gone, IT has to manage thousands of assets, both on-site and remote, including end-user devices scattered all over the world; patch critical assets in a timely fashion; handle an average of around 120 potential security incidents each month; and implement new technology – all at the same time. ➡️Find insights and actionable recommendations in the Executive Navigator 2024! https://ow.ly/JhAC50RTM3F #ExecutiveNavigator #CIOs #Cybersecurity

In January the World Economic Forum annual cyber report was published - did you read it? 🤷♀️ TL:DR ,here is our take; 😮 Data breaches/incident reports analysis and materiality assessments analysis can no longer be carried out by human analysts, WEF recognise this. 😮 The tedious job of data classification can be made less of a manual chore with the help of generative AI and AI in general. 😮 Lab1 automatically classify and score risks using AI of breached data. We look deeply into breached data sets. 😮 27% of surveyed chief information security officers (CISOs) will use AI in their SOCs for such data enrichment of alerts and incidents [Analysis]. 😮 In 2022 the focus of regulators and public agencies was on the role of the board in managing cybersecurity risk. 😮 In 2023, however, scrutiny has expanded to include security leaders. In 2024 - We predict this to continue and accountability regimes to put further pressure on CISOs 😮 54% of organizations fail to understand cyber vulnerability in their supply chain sufficiently 😮The MoveIT/CLOP attacks prove it's not just PII that is at risk, medical records and financial information were stolen during the attack. Are you at risk? Learn more about Lab 1! https://lab-1.com #databreach #cyber #AI https://lnkd.in/eYX-jJtx

Hey Partners! Did you know the investment of time your customers take to manually gather data takes an average of 1 hour/asset for initial discovery and 30 minutes/asset to keep the data updated. For 5,000 assets, that’s 7,500 hours (3 work years), and fluctuating attack surfaces add even more time. For 50,000 assets, it’s 30 work years of effort. Learn how AI-driven exposure management can streamline your security operations, automate asset discovery, and significantly reduce your risk: https://gag.gl/BW3ohM? #EASM #ExposureManagement #AI #Cybersecurity

In the ever-evolving landscape of digital transformation, Noventiq is your trusted partner, offering cutting-edge AI-powered innovations and services. Our commitment is to drive impactful changes across essential business aspects, ensuring a future-ready and secure environment. 🔹Cyber security: Safeguarding your digital assets is top priority. With advanced AI technologies, we provide robust cyber security solutions to protect your business from evolving threats. 🔹Productivity Optimization: Boosting efficiency and streamlining operations is of key importance. Our AI-powered tools are designed to enhance productivity, empowering your teams to focus on what matters most. 🔹Data Governance: In the era of big data, managing and governing data is crucial. Our AI solutions offer comprehensive data governance strategies, ensuring data integrity, compliance, and strategic insights. And that's just the beginning! At Noventiq, we understand the challenges of today's business landscape and are committed to helping your organization towards success. Let's embark on this digital transformation journey together! #DigitalTransformation #Innovation #AI #TechPartnership #CyberSecurity #Productivity #DataGovernance

A day well spent with the leaders and colleagues of financial sector across Australia discussing the rapdily evolving technology landscape (including AI), more than ever demand of automation and the need to understand the security requirements, governance frameworks, regulatory and compliance requirements, and most importantly the risks associated with living in the ever evolving digital world. Key takeaways - 1. Tools and technologies will keep evolving, but its the data security that will make or break organizations in future. 2. Less is more - Strategically putting just the right amount of resources to protect the data, is the key to success. #FSTMedia #FutureOfSecurity #CyberSecurity #ANZ #Cyberresilience #RiskManagement

The digital battleground is shifting under our feet! @IBM's 2024 cybersecurity predictions paint a fascinating picture where AI is both hero and villain. Buckle up because things are about to get wild. The Big Players: Generative AI: This game-changer promises amazing advancements, but its data breach vulnerability raises concerns. Think ""ChatGPT incident,"" yikes! Ransomware: Still kicking, with 400 attacks in March 2023 alone. But governments are fighting back with frameworks like NIST 2.0. Expert Predictions: Deception Games: Get ready for deepfakes and advanced phishing, especially during major events. Stay sharp! AI's Monetization Edge: Cybercriminals will use AI to better target victims and squeeze more value from stolen data. Not good news for your wallet. Doppelganger Danger: Watch out for attackers mimicking employees to gain internal access. Keep an eye on your ""colleagues."" The AI-powered Attack? Experts predict a massive AI-driven cyberattack, like a modern-day ""Morris Worm."" Let's hope it stays science fiction. Ransomware's Shift: Expect a move towards data extortion as traditional methods lose steam. Hold onto your hard drives! The Bottom Line: 2024 is all about AI, both as a tool and a threat. Expect innovative attack tactics, ransomware transformations, and the need to adapt your security measures. Leverage AI for defense, tighten your data security, and prepare for the unknown, even if it involves quantum computers. Are we prepared for these shifts as an industry? What are we doing as individuals and organizations to be ready? #cybersecurity #2024predictions #AI #ransomware #IBM #Cybertech"