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Two things are being discussed by every CIO, CEO, and board in 2024: security threats and the impact of AI. Today, companies are caught between a rock and a hard place, grappling with the need to safeguard their operations without hampering their ability to get things done and stay ahead of the competition. This clash between security measures and the pursuit of productivity is nothing new. Still, it’s become more pressing than ever, thanks to increased cyber threats and the rapid growth of generative AI.
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To get a sense of how different industries are managing this delicate balancing act, 1Password carried out a survey involving 1,500 white-collar workers in North America, with 500 of them working in IT security. The end result is clear: choosing between getting work done and keeping things secure shouldn’t be something a company leader has to worry about. Yet, 1Password’s findings suggest that many feel pulled in both directions. Half of the security experts indicated that finding a middle ground is becoming insurmountable.
Gone are the days when organizations could afford to be somewhat relaxed about security measures. Now, the financial repercussions of cybersecurity incidents are on the rise, with the average cost jumping by 15% over the last three years to $4.45 million, as reported by IBM’s most recent Cost of a Data Breach study.
Meanwhile, the pressure on employees to deliver for their companies is mounting. In their quest to enhance productivity and do more with less, they’re turning to technologies like generative AI, unauthorized software, remote work flexibility, and personal devices over company-issued ones.
Security experts are struggling to keep pace. This scenario leaves businesses vulnerable to a slew of unauthorized applications and solutions being accessed across a variety of devices and unsecured networks—whether it’s from a local coffee shop, hotel Wi-Fi, airports, or at a conference
Both well-meaning workers and malicious actors are dipping their toes into the pool of new tools and methods that come with our current era of tech upheaval. Companies today must find innovative ways to sync up the productivity and security vital to their thriving.
Key findings of the survey
- Struggle for Balance: 50% of security professionals find it nearly impossible to balance security with employee productivity.
- Inadequate Protections: 79% believe their security measures are not sufficient.
- AI Concerns: 92% have concerns about generative AI, with top worries including sensitive data input (48%), incorrect/malicious data training (44%), and AI-enhanced phishing (42%).
- Major Threats: Identified top threats include external attacks like phishing/ransomware (36%), internal threats such as shadow IT (36%), and human error (35%).
- Password Practices: 61% of employees engage in poor password management, with managers and above more likely to increase breach risks.
- Shadow IT Prevalence: 34% of employees use unapproved apps, averaging five shadow IT tools each.
- Personal Device Use: 17% exclusively use personal or public computers for work.
- Security Negligence: 54% of employees admit to lax adherence to security policies for productivity or due to policy inconvenience.
- Reactive Security: 69% of security pros are reactive, primarily due to being stretched too thin (61%).
- Tool Switching for Solutions: 32% of security teams changed tools/vendors for more complete solutions in the past year.
- Convenience vs. Security: Only 9% prioritize employee convenience in security software selection, while 44% of employees prioritize convenience.
- SSO Limitations: 69% say single sign-on (SSO) is insufficient for securing employee identities.
Download the entire report from 1Password.
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