NEW YORK, Jan. 25, 2024 (GLOBE NEWSWIRE) — Panorays, a leading provider of third-party security risk management software, has conducted its 2024 CISO Survey of 200 CISOs to determine their sentiments around third-party security management, AI-driven solutions, and challenges they are facing this year. The study found that while 94% of CISOs are concerned with third-party cybersecurity threats – including 17% who view it as a top priority – only 3% have already implemented a third-party cyber risk management solution at their organizations and 33% plan to implement one this year. In 2024, 65% of CISOs expect the third-party cyber risk management budget to increase. Of those respondents, 40% said it would increase from 1-10% this year.
“CISOs understand the threat of third-party cybersecurity vulnerabilities, but a gap exists between this awareness and implementing proactive measures,” said Matan Or-El, Founder and CEO at Panorays. “Empowering CISOs to swiftly fortify defenses by analyzing and addressing gaps is crucial in navigating the current cyber landscape. After all, with the speed of AI development, bad actors will continue to leverage this…
