Cybersecurity remains a priority for Australian businesses, but budgets are a challenge

Datacom 5th Annual Cloud Report reveals that lack of money is an obstacle to strengthening cybersecurity.

A new report from IT services company Datacom has found that while cybersecurity is a major investment focus for Australian businesses, most are failing to have the budget needed to build cyber resilience.

According to Datacom 5th Annual Cloud Reportless than 20 percent of local businesses believe they have enough money to meet their cybersecurity goals.

Many Australian businesses are also finding that the increasing use of artificial intelligence in their workflows has only made things worse. Fifty-four percent of companies surveyed said AI has raised security concerns and are therefore focusing on threat intelligence and security analytics.

Cloud spending is expected to continue to grow, with more than 40% of businesses planning to increase their spending in this area. Cybersecurity and AI are also key areas where businesses are looking to increase spending.

That said, only a third of Australian businesses have a hybrid cloud strategy. The survey also found that cloud governance, skills and training, as well as the correct implementation of cloud structures, are key priorities.

“This reflects a growing understanding that cloud is a new way of doing business rather than just a destination,” Mike Walls, chief cloud officer at Datacom, said in a statement.

“If organizations get their cloud platforms and strategy in place, the foundation is there for every other aspect of their business, including better security and future growth. »

Tech Research Asia, Datacom’s research partner, surveyed more than 700 organizations across Australia and New Zealand.