Awareness and investment in cybersecurity may have grown in recent years, but the longer-term strategy of embracing the issue remains a challenge for many, said Mr Low Chee Juee, chief technologist of the cybersecurity practice at consulting firm Booz Allen Hamilton.
Speaking at the tech risk conference during the Singapore Fintech Festival on Thursday (Nov 17), Mr Low said embracing cybersecurity remains a challenge even though organisations could reap the potential benefits of lower costs and improved organisational efficiency.
“In terms of action, we’re still a step behind in a lot of areas where we need to be ahead. If we’re looking at it from a scale of one to 10, with 10 being ‘ready’, I think we’re still at ‘four’ in terms of where we’ve engineered a change,” Mr Low said.
“It’s still not part of the corporate DNA, it’s not part of the business intent. It is just another project, and projects come and go. So do we want to run massive, multimillion dollar projects that just come and go, or do you want this investment to be something that’s a lot more sustainable, long-lasting, and give you returns many more years into the business?”