"Security Teams Expect Breach and Incident Reporting Requirements to Create More Work"
According to Deepwatch, most Information Technology (IT) security professionals will concentrate on enhancing their detection and response capabilities despite rising costs and regulatory challenges. The research identified digital transformation activities and regulatory requirements as the top two cost factors for 2023. Seventy-eight percent of security professionals expect that breach and incident reporting requirements would raise their teams' workload, while 77 percent expect that privacy rules will do the same. In addition, 78 percent of security professionals are concerned about the expense of cyber insurance. Thirty-nine percent said it is currently too expensive, and another 39 percent stated that while they believe cyber insurance gives value now, that will not be the case if prices increase further. Ninety-five percent of security professionals identify ongoing difficulties with staffing, and 82 percent have or are contemplating managed services. This article continues to discuss key findings from Deepwatch's year-end report on the state of security operations as well as expected challenges and strategies for 2023.