CxO 2019 – Investment Priorities – Cyber Security

Over the last years, digital transformation has made the difficult transition from an over-used topic of vendor hype to a concrete user reality. Every business leader – whether involved in IT or not – now understands that business disruption as a result of digital technologies can fundamentally upset established business ecosystems. This threat is so real, so immediate, and so disturbing that IT has never been so much at the center of strategy as it is today. But this threat is also the catalyst of another even more direct threat, cyber security.

The potential of new technologies is a mixed blessing for cyber security as some like mobility and the IoT are huge vulnerability generators, while artificial intelligence or distributed ledger technologies (blockchains) are new useful tools. Nevertheless, providers must re-think their offerings, their processes, and even sometimes their business models, and users have to re-think the way they protect themselves.

From a geographical perspective, companies in the U.S. and Asia are the ones showing the greatest maturity regarding digital transformation. More companies in these two regions regard it as a strategic issue, dedicate human resources and money, and invest and deploy innovative technologies for digital transformation than in Europe.

From a company size perspective, the obvious expectation is that the larger companies are, the more resources they have to invest and the more advanced they are. However, smaller companies are also showing a great interest in all aspects of digital transformation and are planning to increase their investments in the next couple of years.

From a vertical perspective, we can observe a shared concern regarding customer experience. Ensuring customer satisfaction is what we describe at teknowlogy as the first step of digital transformation, and all companies throughout all sectors see this as a very important topic. Other aspects of digital transformation may require different technologies depending on the vertical sector, such as gathering data through IoT sensors in telecommunications and energy & utilities to optimize processes, or as leveraging artificial intelligence and cognitive analytics in banking to help employees become more efficient and, at the end of the day, improve both user and employee satisfaction.

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