79% of Asia-Pacific IT leaders say security concerns have stalled new business initiatives
Among IT leaders in the Asia-Pacific region, 79 percent have abandoned or delayed at least one new business initiative due to security concerns, and that emerging technologies such as the Internet of Things (IoT) and biometrics are seen as the biggest challenges to the safety of organizations.
These are the major findings from a new study commissioned by network security company Fortinet which polled 504 enterprise IT decision makers across Australia, China, India, Japan and South Korea.
The study also found that 95 percent of businesses polled have been spurred into action by rising data privacy concerns as well as new big data initiatives. This has largely resulted in new IT security investment with increased investment most likely to occur in the retail and financial services sectors, and among larger organizations.
Organization board members have also been increasingly pressuring security to take precedent over other business initiatives.
“With IT security on the boardroom agenda, this and other challenges are clearly adding weight onto the shoulders of senior IT professionals and questioning the ability of some organizations to exploit innovation while remaining secure,” stated Rajesh Maurya, Fortinet’s India and South Asia region manager. “These organizations must act now to address the impact of the growing threat environment and increased scrutiny on IT security, re-evaluating their goals to ensure they strike the right balance and achieve resilience in the face of cyber threats.”
Respondents across all industry verticals mentioned that biometrics would arrive very soon. Two-thirds of Indian IT decision makers said biometrics has already landed or will do so in the next 12 months, outpacing the average across Asia-Pacific of 40 percent. Ninety percent of India businesses polled said they already have tools to
Only 10 percent of Indian businesses polled said they lacked tools to securely manage biometrics, however, among those 70 percent don’t foresee being able to secure biometrics in the future. This highlights the need to provide security solutions in order to make biometrics something that’s seen as something that poses new threats, but rather as something that increases overall security.