3 Ways Security Automation Slashes Data Breach Costs
In today’s rapidly shifting cybersecurity landscape, companies have to go a step beyond just trying to prevent falling victim to a cyberattack. They must also build their cyber resilience, which includes making plans for what they’ll do if they do experience a cyberattack, and how they can efficiently bounce back.
One tool that can be of immense assistance in that area is security automation. Beyond the myriad benefits that security automation solutions like automated phishing protection offer in preventing cybersecurity disasters, artificial intelligence (AI) solutions can also help companies get back on their feet faster in three important ways.
1. Directly Reducing the Cost of a Cyberattack Recovery
Money may not be able to solve every problem, but it goes a long way toward hastening a company’s recovery from a cyberattack. Companies that have adopted AI cybersecurity solutions save money on rebuilding and recovery costs if they take a hit from bad actors.
In the IBM Ponemon Cost of a Data Breach Report 2020, analysts concluded that an average data breach carries a price tag of $6.03 million per incident. Unless a company had deployed artificial intelligence and security automation, reducing the cost of a breach by an average of $3.58 million — a sum that will definitely help accelerate recovery.
2. Freeing Up Essential Personnel for Response
A cybersecurity incident is an all-hands-on-deck situation, and that’s a problem for a category of staff that is already negatively impacted by a universal skills shortage. IT leaders are desperate for quality help, and 74 percent of cybersecurity professionals say that a skills shortage has affected their organization’s readiness to deal with emergencies. Adding security automation tools adds extra assistants for your IT team by freeing up essential personnel to work on things that require human ingenuity, making the most of your headcount when it matters the most.
3. Improving Overall Cyber Resilience
Companies that invest in cybersecurity automation like AI-powered phishing defense are more prepared to weather cybersecurity incidents. In the IBM/Ponemon report, researchers were quick to note that 70 percent of the most cyber-resilient organizations have deployed automated security, and 42 percent of those companies cited security automation as a major factor in their success at improving their cybersecurity posture.
By adding automated solutions to their array of defenses, companies can more quickly detect, quarantine, and investigate cybersecurity problems without overstressing their capability, enabling them to get back to business fast with minimal losses from downtime.
The benefits of security automation should figure into every company’s calculus of how they’ll improve their security posture to be ready for future threats. AI cybersecurity tools like automated phishing security don’t just save time and money on good days, they’re also essential tools for protecting your bottom line on the days when things go bad, providing business leaders invaluable peace of mind that they can take to the bank.
Learn more about how you can enhance your cyber resilience at https://www.graphus.ai/.