Why cybersecurity spending will drive business digitization

The days of CEOs regarding data protection technologies and staff as a budget drain and operating tax that stifles innovation are over. Galvanized by high-profile breaches, companies are shelling out more money to shore up corporate defenses. CEOs also recognize that security is table stakes for building digital products and are entrusting their CISOs with more responsibilities.

[ Related: Security challenge: Wearing multiple hats in IT ]

Fifty-nine percent of 10,000 C-Suite executives polled by PwC for the new Global State of Information Security Survey said they are investing more in cybersecurity, including data analytics, real-time monitoring, authentication tools that include biometrics and managed security services (MSS). David Burg, PwC’s U.S. and global leader of cybersecurity and privacy, says anecdotal evidence also suggests that companies are turning to CISOs to build security into software, including anything from mobile applications to connected cars that exchange information with smartphones.

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