Loading...

87% of ANZ CIOs Ramp Up Cybersecurity Investments in 2024 – Gartner Survey Reveals

Cybersecurity

Most read

Loading Most Ready posts..

TL;DR

  • Gartner’s annual survey indicates that 87% of CIOs in Australia and New Zealand plan to increase cybersecurity investments in 2024, up from 62% in 2023.
  • While generative AI garners attention, cybersecurity remains a top priority due to recent high-profile data breaches, pushing organizations to address security concerns.
  • Cloud platforms (79%) and data analytics (78%) follow cybersecurity in investment priorities, while AI and machine learning currently rank sixth (62%), expected to rise post proof-of-concept.

In an era dominated by digital transformation and technological advancements, a comprehensive survey by Gartner, Inc. has brought forth a pivotal revelation for the technology landscape in Australia and New Zealand (ANZ). As 2024 looms on the horizon, 87% of Chief Information Officers (CIOs) in the region are gearing up to fortify their investments in cybersecurity. 

This surge, revealed in Gartner’s annual global survey, serves as a testament to the escalating concerns surrounding data security and regulatory compliance. In the face of a rapidly evolving threat landscape, ANZ organizations are strategically readjusting their technology portfolios, with a pronounced shift towards bolstering cybersecurity measures, marking a substantial increase from the preceding year’s statistics.

Investment riorities and cybersecurity trends

In the wake of escalating concerns surrounding cybersecurity, ANZ CIOs are strategically repositioning their investment portfolios, as indicated by the 2024 Gartner CIO and Technology Executive Survey.

As per the survey, the resounding majority of ANZ CIOs, constituting 87%, are gearing up to allocate their most substantial technology investments to cybersecurity in the upcoming year. This signifies a substantial uptick from the 2023 statistics and surpasses the global average of 80%. The decision is attributed to the heightened awareness stemming from prominent data breaches witnessed across the ANZ region in the past year.

Beyond cybersecurity, the survey reveals that cloud platforms (79%) and data analytics (78%) are slated to receive significant attention, securing the second and third positions in investment priorities for ANZ CIOs. Intriguingly, despite the prevailing hype, AI and machine learning find themselves in the sixth position (62%), with organizations channeling efforts towards operational efficiency and bridging IT talent gaps.

Digital delivery transformation with GenAI

ANZ Chief Information Officers (CIOs) are at the forefront of ushering in an era of democratized digital delivery, strategically leveraging innovative technologies, with a specific emphasis on the integration of generative artificial intelligence (GenAI). This forward-thinking approach is evident in their adoption of advanced tools such as low-code platforms, embraced by a notable 68% of respondents, either deployed or planned for integration within the next 24 months. GenAI emerges as the focal point for the upcoming year, with a substantial 58% of ANZ CIOs planning its deployment within the same timeframe.

Despite only 10% currently having implemented GenAI technologies, Rowsell-Jones, a key figure in this landscape, emphasizes the imminent shift from proof-of-concept to substantial investments in GenAI deployment. Projections foresee GenAI playing a pivotal role in dismantling barriers for software developers, paving the way for rapid and widespread adoption across industries. The landscape of digital delivery in ANZ is poised for transformative change under the strategic guidance of CIOs embracing cutting-edge technologies.

Cybersecurity and digital future in ANZ

As ANZ organizations navigate the dynamic tech landscape, the question that looms is how these strategic investments in cybersecurity and emerging technologies will shape the region’s digital resilience. Will this surge in cybersecurity funding be sufficient to thwart evolving threats, and how will the adoption of transformative technologies like GenAI impact the overall digital landscape in the coming years? The synergy between security measures and digital innovation remains a focal point for ANZ CIOs as they navigate the intricate intersection of cybersecurity and technological advancement.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Share link:

Aamir Sheikh

Amir is a media, marketing and content professional working in the digital industry. A veteran in content production Amir is now an enthusiastic cryptocurrency proponent, analyst and writer.

Stay on top of crypto news, get daily updates in your inbox

Related News

Cryptopolitan
Subscribe to CryptoPolitan