- Most businesses now agree that faster incident recovery could give them an advantage
- Loss of revenue, brand damage and lack of productivity are all risks
- Two out of three companies aim for a mix between humans and AI
Two in three businesses risk losing more than £225,000 per hour during major IT incidents, according to new research, including 65% in the UK and Ireland and 68% globally. This could be due to how they allocate their security investments.
PagerDuty’s findings come as an overwhelming majority (95%) of business leaders worldwide agree that faster recovery and fewer incidents could give them a competitive advantage.
The good news is that things could change, as 68% of organizations in the UK and Ireland reported increased operational resilience in the past year, and 71% globally. But what works and how can all businesses catch up?
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Resilience is key to security investments
PagerDuty found that revenue isn’t the only damage businesses face when faced with a cybersecurity or similar attack: 53% cite reputational damage as the biggest impact, and nearly half (48%) also see lost productivity as an issue. Recovery costs (50%) and developer burnout (42%) were widespread concerns globally.
As for how to better prepare, four in five (79%) high-growth companies are increasing their resilience budgets, but for companies facing flat or declining revenue, only 48% are increasing their resilience budgets. This is obviously a priority investment area.
“There is certainly a sliding scale when it comes to resources, depending on what is feasible for a given business, but turning off the taps can spell disaster,” explained CIO Eric Johnson, emphasizing that not all businesses are built the same.
When it comes to the exact distribution of investments, 41% believe AI could reduce disruption by more than 20%, and 59% aim for a balanced mix of human workers and AI agents over the next three years.
“A mix of human workers and AI agents can help alleviate pressure on resource-strapped teams, and balanced approaches here can surface issues and accelerate analysis effectively, while preserving judgment, context and accountability,” Johnson concluded.
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