Page 170 - Cyber Defense eMagazine January 2024

consultants. These providers offer well-defined and comprehensive virtual CSO (vCISO) services that
focus more on small and medium businesses.

For large enterprises, incident response assessments improve understanding of cyber resilience maturity
and determine detection, response and recovery capabilities across their security operations.

5. Cybersecurity risk quantification gains traction

Enterprise boards and senior leadership teams are starting to ask how their cybersecurity investments
address evolving threats to the business and how to quantify the reduction in risk they deliver. Enter
cyber risk quantification methods that use actuarial models to provide tangible, practical and easy-to-
understand estimates of cybersecurity value.

In this area, organizations will be hyper-focused on risk analysis from the perspective of AI-driven cyber
threats, risks that stem from the organization’s use of AI and the cyber implications of the internal use of
AI. This will lead to a reactive flurry of policies and guidelines, such as acceptable use policies for
ChatGPT, Grok, Copilot and others.

In 2024, more IT and cyber leaders will add cyber risk quantification to their portfolio of tools to
communicate cybersecurity value. Solutions range from those that are highly customized and require
significant training for cyber and risk teams working with actuarial and risk modelling experts, to risk-
quantification-as-a-service leveraging available market and organization data on platforms with
proprietary actuarial models.

Investments in advanced security tools and solutions alone will not ensure business continuity. The
multitude of challenges enterprises face, including cyber risks, threats and cyberattacks, compliance
obligations and more, require them to double down on achieving cyber resilience in 2024.

About the Author

Doug Saylors leads the ISG Cybersecurity business in the Americas, ANZ
and Asia Pacific. He offers expertise in cybersecurity strategy,
administrative and operational models, large-scale transformation
projects, infrastructure, digital enablement, relationship management and
service delivery, and a strong focus on minimizing the risk of loss. He has
helped dozens of the firm’s most prominent global clients in multiple
industries, including Aerospace & Defense, Life Sciences, Financial
Services, Healthcare and Manufacturing, with operational assessments
and strategy development to select optimal delivery alternatives and
achieve the client’s overall business objectives. Doug can be reached on
LinkedIn and at our company website https://isg-one.com/.

Cyber Defense eMagazine – January 2024 Edition 170
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