As companies and organizations continue to face an escalation in cyberattacks, CIOs say their top investment priority in 2023 will be cybersecurity, The Wall Street Journal reported Oct. 17.
According to the Journal, cyber and information security has been at the top of CIOs' agendas since 2020, with investments in cybersecurity continuing to rise.
Technology research and consulting firm Gartner forecasted that worldwide information security and risk-management spending by end users will reach $188.3 billion in 2023, up 11.3 percent from 2022.
According to Michael Levin, senior vice president for global cyber risk and defense at UnitedHealth Group, the collective investments come as companies are in the midst of working on a long-term plan to develop more effective conceptual approaches to cybersecurity.
Mr. Levin said there has been a shift away from a compliance-only approach to cybersecurity, based on a checklist of what companies need to do, and a movement toward a newer risk- and outcomes-based approach.
"A lot of organizations are still focused on those earlier checklists and compliance," Mr. Levin told the Journal. "I did all the things you told me to, so I am safe, versus considering how can I be safe."