Wipro’s Annual State of Cybersecurity Report Finds Increasing Adoption of AI in Cybersecurity to Tackle Advanced Adversaries
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today released its annual State of Cybersecurity Report (SOCR) that presents changing perspectives of cybersecurity globally.
The report provides fresh insights on how Artificial Intelligence (AI) will be leveraged as part of defender stratagems as more organizations lock horns with sophisticated cyberattacks and become more resilient. There has been an increase in R&D with 49% of the worldwide cybersecurity related patents filed in the last four years being focussed on AI and Machine Learning (ML) application. Nearly half the organisations are expanding cognitive detection capabilities to tackle unknown attacks in their Security Operations Center (SOC).
The report also illustrates a paradigm shift towards cyber resilience amid the rise in global remote work. It considers the impact of COVID-19 pandemic on cybersecurity landscape around the globe and provides a path for organizations to adapt with this new normal.
The fourth edition of the SOCR saw a global participation of 194 organizations and 21 partner academic, institutional and technology organizations over four months of research.
Additional highlights from State of Cybersecurity Report, include:
Global macro trends in cyber security
- Nation State Attacks Target Private Sector: 86% of all nation-state attacks fall under espionage category, and 46% of them are targeted towards private companies.
- Evolving threat patterns have emerged in the Consumer and Retail Sectors: 47% of suspicious social media profiles and domains were detected active in 2019 in these sectors.
Cyber Trends sparked by COVID-19 Global Pandemic
- Cyber Hygiene proven difficult during remote work enablement: 70% of the organizations faced challenges in maintaining endpoint cyber hygiene and 57% in mitigating Virtual Private Network (VPN) and Virtual Desktop Infrastructure (VDI) risks.
- Emerging post-COVID Cybersecurity priorities: 87% of the surveyed organizations are keen on implementing zero trust architecture and 87% are planning to scale up secure cloud migration.
Micro Trends: An inside-out enterprise view
- Low Confidence in Cyber Resilience: 59% of the organizations understand their cyber risks but only 23% of them are highly confident about preventing cyberattacks.
- Strong Cybersecurity spend due to Board Oversight & Regulations: 14% of organizations have a security budget of more than 12% of their overall IT budgets.
Micro Trends: Best Cyber practices to emulate
- Laying the foundation for a Cognitive SOC: 49% of organizations are adding cognitive detection capabilities to their SOC to tackle unknown attacks.
- Concerns about OT Infrastructure attacks increasing: 65% of organizations are performing log monitoring of Operation Technology (OT) and Internet of Things (IoT) devices as a control to mitigate increased OT Risks.
Meso Trends: An overview on Collaboration
- Fighting cyber-attacks demands stronger collaboration: 57% of organizations are willing to share only Indicators of Compromise (IoCs) and 64% consider reputational risks to be a barrier to information sharing.
- Cyber-attack simulation exercises serve as a strong wakeup call: 60% participate in cyber simulation exercises coordinated by Industry regulators, National Computer Emergency Response Team (CERTs) and third-party service providers and 79% organizations have dedicated cyber insurance policy in place.
Future of Cybersecurity
- 5G security is the emerging area for patent filing: 7% of the worldwide patents filed in the cyber domain in the last four years have been related to 5G security.
Vertical insights by industry
- Banking, Financial Services & Insurance: 70% of financial services enterprises said that new regulations are fuelling increase in security budgets, with 54% attributing higher budgets to board intervention.
- Communications: 71% of organizations consider cloud-hosting risk as a top risk.
- Consumer: 86% of consumer businesses said email phishing is a top risk and 75% enterprises said a bad cyber event will lead to damaged band reputation in the marketplace.
- Healthcare & Life Sciences: 83% of healthcare organizations have highlighted maintaining endpoint cyber hygiene as a challenge, 71% have highlighted that breaches reported by peers has led to increased security budget allocation.
- Energy, Natural Resources and Utilities: 71% organizations reported that OT/IT Integration would bring new risks.
- Manufacturing: 58% said that they are not confident about preventing risks from supply chain providers.
Bhanumurthy B.M, President and Chief Operating Officer, Wipro Limited said, “There is a significant shift in global trends like rapid innovation to mitigate evolving threats, strict data privacy regulations and rising concern about breaches. Security is ever changing and the report brings more focus, enablement, and accountability on executive management to stay updated. Our research not only focuses on what happened during the pandemic but also provides foresight toward future cyber strategies in a post-COVID world.”
To access the full report, click here.
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 180,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry. The conditions caused by the COVID-19 pandemic could decrease technology spending, adversely affect demand for our products, affect the rate of customer spending and could adversely affect our customers’ ability or willingness to purchase our offerings, delay prospective customers’ purchasing decisions, adversely impact our ability to provide on-site consulting services and our inability to deliver our customers or delay the provisioning of our offerings, all of which could adversely affect our future sales, operating results and overall financial performance. Our operations may also be negatively affected by a range of external factors related to the COVID-19 pandemic that are not within our control. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
PPC Upgraded to ‘B’ with ‘Stable’ Outlook by S&P4.12.2020 15:16:00 CET | Press release
In its annual research update released on 27 November 2020, S&P upgraded PPC’s stand-alone credit profile (SACP) upward by two notches to ‘B’ from ‘CCC+’, resulting in an overall upgrade of the long-term credit rating of PPC to ‘B’ from ‘B-‘. According to S&P the two notch upgrade in PPC’s standalone corporate rating confirms that the Company’s strategic repositioning and the improved Greek energy market fundamentals have transformed its competitive position, reducing past concerns over its liquidity and long-term sustainability. The ‘Stable’ outlook underscores S&P’s expectation that PPC will continue to deliver on its transformation plan, with solid liquidity and improved margins. PPC’s strategic plan to convert its generation mix toward lower carbon dioxide (CO2) emissions improve its fleet competitiveness and long-term prospects. As mentioned in their report, S&P expects a substantial increase in EBITDA and improvement in credit metrics on the back of higher profitability as PPC ac
Chengdu Launches Online Exhibition of History and Culture to Enhance Cultural Ties With European Countries4.12.2020 13:17:00 CET | Press release
The launching ceremony of Chengdu History and Culture Overseas Virtual Exhibition was held by the Chengdu Chronicles Compilation Committee at Chengdu Chronicles Office on 24 November. The event, along with the unveiling ceremony of Chengdu Chronicles Culture Overseas (Europe) Exchange Cooperation, were witnessed by distinguished guests in many European countries including the Netherlands, Germany and Belgium through video and online connections. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201204005278/en/ On November 24, Gao Zhigang (center), Director of Chengdu Chronicles Compilation Committee at Chengdu Chronicles Office, and other guests attend the launching ceremony of Chengdu History and Culture Overseas Virtual Exhibition. (Photo: Business Wire) Chengdu History and Culture Overseas Virtual Exhibition will also be launched at major foreign media platforms for audiences all over the world. Gao ZhiGang, Director of Che
New Phase 3 Data Show TAK-620 (maribavir), an Investigational Drug for the Treatment of Transplant Recipients with Refractory/Resistant Cytomegalovirus (CMV) Infections, Meets Primary Endpoint4.12.2020 12:00:00 CET | Press release
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (“Takeda”) today announced top-line results from the Phase 3 clinical trial evaluating the efficacy and safety of the investigational drug TAK-620 (maribavir), in the treatment of transplant recipients with refractory/resistant cytomegalovirus (CMV) infection. The TAK-620-303 (SOLSTICE) trial (NCT02931539) is a multicenter, randomized, open-label, active-controlled trial comparing eight weeks of treatment with either maribavir or investigator assigned treatment (IAT) in transplant recipients with CMV infection refractory or resistant to existing antiviral treatments (i.e., one or a combination of ganciclovir, valganciclovir, foscarnet or cidofovir). The SOLSTICE trial met its primary endpoint, defined as the proportion of patients who achieved confirmed CMV viremia clearance compared to IAT at the end of Study week 8. In addition, the SOLSTICE trial met its key secondary endpoint, defined as achievement of CMV viremia clearance
Janssen Submits Marketing Authorisation Extension to the European Medicines Agency to Register Paliperidone Palmitate 6-Monthly (PP6M) for Treatment of Schizophrenia in Adults4.12.2020 10:01:00 CET | Press release
The Janssen Pharmaceutical Companies of Johnson & Johnson submitted a Marketing Authorisation Extension Application to the European Medicines Agency (EMA) to register paliperidone palmitate 6-monthly (PP6M) for the maintenance treatment of schizophrenia in adult patients who are clinically stable on paliperidone palmitate 1‑monthly (PP1M)1 or 3-monthly (PP3M)2 injectable products. If approved, this long‑acting injectable will provide adults living with schizophrenia a twice-yearly dosing regimen, the longest dosing interval available for an antipsychotic medication in the European Economic Area.3 “Janssen’s roots in neuroscience began with research and development of novel therapeutic options for schizophrenia, and this filing builds on that 60-year commitment,” said Bill Martin, Global Therapeutic Area Head, Neuroscience, Janssen Research & Development, LLC. “We designed this unique dosing regimen so people with schizophrenia and their healthcare team can focus less on medication inte
Patrice Bula to be appointed as new Chairman of Froneri4.12.2020 09:30:00 CET | Press release
After more than 4 years as Chairman of Froneri, Luis Cantarell has expressed his desire to step down at the end of December 2020. Luis’s strategic vision, in-depth knowledge of the Ice Cream business as well as his energizing and inspirational leadership were decisive factors in the forming and ensuing success of Froneri, a joint-venture partnership between Nestlé and PAI Partners created in September 2016. Under Luis’s leadership, Froneri has achieved rapid sales and profit growth, steadily gaining market shares. With presence in 23 markets, a portfolio of iconic brands and an exceptional management team, Froneri is now well-placed to achieve global leadership in the Ice Cream category. To replace Luis, we are pleased to announce the nomination of Patrice Bula, currently Executive Vice President at Nestlé and a Supervisory Board Member of Froneri, and this since its creation. With a rich career spanning more than 40 years with Nestlé SA, of which the last 10 as Executive Vice Presiden
Xlife Sciences AG: Successful Capital Raising of Six Million Swiss Francs4.12.2020 09:00:00 CET | Press release
Capital increase of Xlife Sciences AG Successful capital raising of six million Swiss francs Xlife Sciences AG has successfully closed its capital increase and raised a total of 6.02 million Swiss Francs of new capital as of December 3, 2020. The placement was oversubscribed at the end of the subscription period. The management of the company sees the strong demand as a confirmation for its business model. The capital will be used almost exclusively for existing and new projects. In the capital round completed on December 3, 2020, existing and new investors subscribed for shares with a total value of CHF 6.02 million. For Oliver R. Baumann, CEO of Xlife Sciences AG, the high demand of investors is a confirmation of the successful business model. "The strong interest of investors shows that our company, with its strategy of holding and developing a broad portfolio of early-stage life science projects is an attractive investment even in challenging times such as the corona crisis". Inves
Rand Technology Appoints Key Executives Across Global Regions4.12.2020 00:30:00 CET | Press release
Rand Technology (Rand) has appointed Kim Fix, Chief Operating Officer (COO), Americas & Europe; Frederick Fu, President and Managing Director, Asia-Pacific (APAC); Nami Mokri, Vice President, Sales & Sourcing, APAC; Kevin Sheehan, Chief Information Officer (CIO); and Jennifer Strawn, Director, Sourcing & Procurement, Americas & Europe. Kim Fix, Global Vice President, QA & Operations, has been appointed to COO, Americas & Europe. Kim will lead Rand’s sales and sourcing teams’ operations across the Americas and Europe and oversee global compliance, quality assurance, and operations. Kim has been integral to Rand’s preferred status with its business partners and multi-site ISO, OHSAS, ANSI ESD, and R2 certifications. Frederick Fu joined Rand as President and Managing Director, APAC. He previously served as Avnet’s President of APAC. He has been fundamental to Rand’s efficacy, growth, strategy, and success in the APAC region. Nami Mokri was appointed Vice President, Sales & Sourcing, APAC.
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom