The cybersecurity industry has an actual crisis on its system – and it’s getting much worse than predicted. While cybercrime grows exponentially, businesses are experiencing a drastic cybersecurity talent drought. The supply of available and qualified cybersecurity experts is insufficient and the competition for services has dramatically increased.
The latest research by International Information System Security Certification Consortium or (ISC)² places the estimate at just under $2.93 million – $3 million to be exact globally. From a business security stance, lacking cybersecurity professionals in today’s world is incredibly vulnerable. Cybersecurity professionals have never been more needed as the workforce demand increases, and cyber menaces continue to vigorously rise and grow.
To avoid this hiring crunch, it’s crucial to have robust cyber security tools or software for enhancing and supporting the cyber professionals to protect invaluable data and vulnerable networks from cyber threats, identify new users, monitor traffic, approve or block unauthorized access.
Moreover, cyber security tools and software protect the integrity of assets from external exploits, and these tools offer many other benefits. They can increase productivity, manage network traffic, enhance network performance, protect the confidentiality, reduce the feasibility of websites going down, and ensure safe data sharing between data sources and employees.
Top 4 Reasons Behind The Cybersecurity Talent Crunch
- Drastic Increase In Ransomware Attacks
Between 2019 and 2020, ransomware attacks rose by 62% worldwide according to cybersecurity firm SonicWall’s 2021 report. The FBI got nearly 2,500 ransomware complaints in 2020, up about 20 percent from 2019, according to its annual Internet Crime Report. The collective cost of the ransomware attacks in 2020 amounted to roughly $29.1 million, up more than 200 percent from just $8.9 million the year before. Securing your system/network from potential attackers is a job that can at least be partially automated that can help lessen the burden on cybersecurity professionals.
- Insufficient Skilled Defenders
Finding the right talent for cyber expertise is much more critical than the other IT roles because of the shortage in the talent pool. At the same time, there are not enough training opportunities and the investment put on the entry-level cybersecurity professionals is minimal. According to recent studies, only 32 percent of companies currently provide adequate training in IT security and 86 percent of respondents do not spend enough capital on their internal training initiatives.
- Failure To Collaborate
Cybersecurity is a collaborative responsibility that the entire organization needs to get behind. Not only does a CIO or CISO need to maintain a comprehensive and versatile cybersecurity staff to take proactive measures against hackers and cybercriminals, but unfortunately this particular thing is not happening among the cybersecurity staff.
- Lack of Process Standardization
Cybersecurity is a dynamic job; the task of securing an online network from potential hackers can be more efficient when it’s automated. This isn’t to say that an organization can drive out its entire cybersecurity staff. Not only are knowledgeable cybersecurity experts needed to usher in this standardization but they’re needed to enforce it.
Challenges and Risks Associated with Hiring Outside Contractors for Cybersecurity
Many companies presume hiring outside cyber security contractors instead of employees is simpler or more cost-effective. But that’s not necessarily true; contracting isn’t as simple and hassle-free as one might expect. There are risks associated with protecting confidentiality, work audits, contract regulations, managing network traffic, ensuring safe data sharing among the networks, and employing independent contractors can be risky and costly.
Cybersecurity Tools Don’t Replace Cybersecurity Professionals
Artificial intelligence (AI) & Machine Learning (ML) are evolving as critical tool cybersecurity companies leverage to stay ahead of the curve. It makes shielding technology rigid and response times faster, but it’s not an ideal solution. AI isn’t a replacement for human intelligence, particularly when it comes to identifying and eliminating threats—but it does advance cybersecurity in more powerful ways.
This combined technology enables cybersecurity tools to spot cyber attacks with more precision. Machine learning keeps cybersecurity systems performing at a peak, and it will maintain a strong cybersecurity infrastructure for any organization. It can support even an inexperienced team member, and it maximizes productivity at a lower cost.
How Any Business Can Benefit From Cyber Security Tools/Software
- Perfect protection for all businesses – Cyber security tools and cyber security software provides extensive protection to any business that will empower them to crawl the internet as and when they need it. These tools ensure businesses aren’t in danger from potential threats.
- Safeguard all critical data from cyberattacks – One of the most critical resources in the current digital age is data. If ransomware can obtain highly confidential information regarding your employees or customers, they can generate ransom. By using cybersecurity tools and software, protect data from hackers that can save revenue, time, resources, and effort.
- Protects productivity and enhances efficiency – Ransomware paralyzes a system and makes working practically impossible. This often brings an entire enterprise to a standstill.
- Stop the website from going down – When the system becomes infected, not only will the enterprise lose money from missed transactions, but also loyal customers. Furthermore, certain cyberattacks can often do lasting damage to a system.
- Empower the team as never before – Most cyber-criminals will have much more experience and expertise than expected when it comes to cybercrime. Cyber security tools and software can provide businesses with the features and support that they need to effectively confront even the deadliest cyber attacks.
There’s no avoiding the current shortfall in skilled cybersecurity professionals, and even the most advanced software doesn’t replace people or proper training. But with the right set of tools, CISOs and cybersecurity leaders can maximize the effectiveness of the staff they have to face rising cybersecurity threats.
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