TL;DR:
- Over 67% of CISOs plan to adopt machine learning tools for ransomware detection in the next year.
- Index Engines’ research reveals the pressing need for improved detection and faster recovery of ransomware corruption.
- Machine learning and analytics play a critical role in combating sophisticated ransomware attacks.
- CISOs face challenges in attack detection, data recovery, and forensic analysis.
- Two-thirds of respondents plan to integrate data analytics and machine learning tools, while 84% report an increase in cybersecurity budgets.
- Early detection, faster recovery, and increased confidence in malware eradication are top priorities.
- The adoption of data forensics tools can facilitate successful data recovery.
- The market demands comprehensive solutions that leverage machine learning to bolster ransomware defense.
Main AI News:
According to a recent study conducted by Evaluator Group, an overwhelming majority of Chief Information Security Officers (CISOs) – over 67 percent – are set to adopt advanced technologies, including machine learning tools, to bolster their efforts in detecting ransomware activities within the next year. The research, commissioned by Index Engines, a leading provider of data management solutions, aimed to identify the primary challenges faced by CISOs in data management.
The survey, which involved 163 CISOs, shed light on the urgent need for effective ransomware detection mechanisms and faster restoration capabilities. Index Engines’ CyberSense® software, specifically designed to identify signs of data corruption caused by ransomware, plays a pivotal role in enabling intelligent and expedited data recovery processes.
Jim McGann, Vice President of Business Development and Marketing at Index Engines, emphasized the criticality of machine learning and analytics in the ongoing battle against cybercriminals. He stated, “As ransomware attacks become increasingly sophisticated, surpassing traditional security measures, it has become evident to CISOs that machine learning and analytics hold the key. These advanced technologies possess the ability to thoroughly analyze data, delve deep into files, and make informed decisions regarding ransomware corruption, thereby instilling confidence in the recovery process.”
The research findings highlighted the challenges faced by CISOs, including the difficulty in detecting attacks and locating the most recent uncompromised data backup for recovery purposes. The study revealed that minimal recovery efforts typically require hours, while complete restoration can often take weeks or even months, resulting in the potential permanent loss of valuable data due to malicious corruption.
Furthermore, the report highlighted the lack of in-house capabilities among security professionals to conduct comprehensive forensic analyses, hindering their ability to determine the root cause of cyberattacks and devise intelligent recovery strategies. Alarmingly, only 11 percent of respondents confirmed that their current vendors provided them with all the necessary tools and capabilities.
To address these pressing concerns, two-thirds of the participants expressed their intent to incorporate data analytics and machine learning tools to identify suspicious activities over the next year. Additionally, more than half of the respondents indicated plans to integrate data loss prevention software and continuous monitoring tools to combat malicious software effectively. Other notable areas of investment included leveraging audit data for sensitive content and conducting data forensics analysis following ransomware attacks.
Budget allocations for cybersecurity are on the rise, the study revealed, in response to the increasing sophistication of ransomware attacks. An impressive 84 percent of organizations reported an increase in their cybersecurity budget this year, with nearly half of them allocating up to 10 percent more resources. While only 12 percent expected a budget increase exceeding 25 percent, a similar number expressed that their budget would remain unchanged. Only a marginal 4 percent reported a decrease in their cybersecurity budget.
When asked about their most desired features for cyber resiliency analytics, a staggering 71 percent of respondents emphasized the importance of early detection of cyberattacks. Additionally, 43 percent highlighted the need for faster identification of the last known good recovery point, while 41 percent emphasized the significance of increased confidence in malware eradication from the network.
Evaluator Group’s Senior Analyst, Dave Raffo, emphasized the importance of implementing data forensics tools and processes to ensure successful data recovery following an attack. He stated, “Organizations can greatly benefit from data forensics tools and processes that focus on analyzing, identifying, monitoring, and reporting on digitally stored data. These capabilities can facilitate robust data recovery measures.”
The survey results reflect a growing recognition among CISOs of the pivotal role played by machine learning and advanced analytics in fortifying defenses against ransomware attacks. By embracing these technologies and investing in comprehensive data management solutions, organizations can enhance their cyber resiliency and protect their valuable assets from the ever-evolving threat landscape.
Two-thirds of the respondents said they plan to use data analytics/ machine learning tools to detect suspicious activity over the next year, by far the most popular choice of a wide range of options. Source: PR Newswire Europe Limited
Conclusion:
The research highlights a significant shift among CISOs towards leveraging machine learning and analytics to combat the rising threat of ransomware. The adoption of these advanced technologies allows organizations to enhance their detection capabilities, expedite the recovery process, and gain confidence in the integrity of their data.
As ransomware attacks continue to evolve in sophistication, the market demands comprehensive solutions that combine machine learning, data analytics, and forensic analysis to ensure robust cyber resiliency. Organizations that invest in these technologies will be better equipped to protect their valuable assets and stay ahead in the ongoing battle against cybercriminals.
