Veritas Tech unveils startling data risk fact: 45% of companies are underestimating the threat!
In a surprising turn of events, Veritas Technologies, the reigning champ of secure multi‑cloud data management, dropped a fresh research unfurling that almost half of global organisations might be messing up on how serious their cyber risks really are.
Survey Snapshot: 1,600 execs, 13 markets, the real take‑away
The “Data Risk Management: The State of the Market—Cyber to Compliance” study tapped into 1,600 executives and IT folks across 13 territories, pulling out the IT head‑liners: the biggest threats, the trouble they bring, and how firms are planning to dodge the bullets.
- Top threat: Data Security (46%)
- Next up: Economic Uncertainty (38%)
- And the AI wave: Emerging Tech (36%)
- Traditional worries slip to the 4th and 5th spots: competition & talent crunch
Ransomware & Multi‑Cloud: Not Just a Buzzword
Even with gluts of interest rates, inflation, and budget crunches beating on businesses, ransomware and the tangled web of multi‑cloud setups keep creeping up on the radar. When first asked, a whopping 48% said “no”—were they truly safe? Once the survey presented a checklist of real risk items, 97% admitted a threat existed. The numbers micromanaged reality.
AI: The Double‑Edged Sword
AI is like that slick new gadget that can either moonlight as a knight or a thief. Several reports have shown bad players using AI to craft smarter, more convincing ransomware. On the other hand, when set with the right guardrails, AI can become a company’s body‑guard—automating detection and fending off attacks faster than a human can blink.
UK’s Telltale Stats
Of UK respondents:
- 82% reported a hit from risks—reputational or financial damage
- Data security, the biggest culprit, had 33% claiming actual damage
- 51% said their org had been hit by ransomware in the last two years
- 70% sensed data security threats are on the up‑trend within the past year
On the bright side, corporate wallets are beefing up: data protection spend up by 33% across all cloud environments. Plus, 21 new hires in security squads, and 79% feel the headcount is adequate. That’s a sort of hope‑wave.
Veritas’ Voice: A Call to Action
Barry Cashman, regional VP for UKI at Veritas, sums it up: “UK businesses feel a risk tsunami, and smart tech & talent investments are the lifeboat. But the core of resilience? A risk‑culture that goes from the newest recruit right up to the C‑suite.”
Globally, 54% of orgs say risks have crept up versus 21% that they decreased. Yet many under‑estimates their own vulnerability, a gap exposed by comparing self‑rated risk levels to a formal risk score. Public sector ranked the highest in “real risk,” yet only 48% flagged themselves at serious risk. Energy and utilities followed with 52% acknowledging the danger.
Beyond Numbers: The Cracks in the Armor
Down under the AI headlines, many firms still groped at the back door: 38% reported no data recovery plan, or only a half‑filled one. This is alarming considering 48% faced data loss at least once in the past two years.
Cashman warns: “With risk levels climbing, businesses must not get complacent. Daily headlines of high‑profile breaches remind us—no one’s safe. The key is to stay prepared; fortifying data security measures determines whether you ride the wave or drown.”
Ready for the next BA‑wave?
Forget passive waiting—be proactive. Embed risk management in every layer of your organisation, from the newest hires to the top brass. Combine tech upgrades, AI‑driven defense, and strong recovery plans, and you’re not just staying afloat—you’re charting your own course.
