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Data shows breach costs are lower with hybrid cloud and AI

By Marius Ciortea posted Wed July 28, 2021 03:41 PM

  

As an IBM customer, you understand that a hybrid cloud infrastructure and leveraging artificial intelligence (AI) has great potential benefits for modernizing your business. Now, new research from the annual Cost of a Data Breach Report offers clear evidence that these strategies can also benefit security, to help mitigate the financial damages of experiencing a cyber breach.

According to the study, organizations with fully deployed security AI and automation experienced breach costs of $2.90 million, compared to $6.71 million at organizations without security AI and automation. The difference of $3.81 million, or nearly 80%, represents the largest cost-saving factor in the study. Security AI and automation was also associated with a faster time to identify and contain the breach.

Comparing cloud-based breaches by the different cloud models, the study found that hybrid cloud had the lowest average total cost of a data breach, compared to public, private and on premise. Data breaches in hybrid cloud environments cost an average of $3.61 million, $1.19 million less than public cloud breaches, or a difference of 28.3%. And although companies that were in the midst of a large cloud migration experienced higherthan average breach costs, those that were further along in their cloud modernization maturity were able to identify and contain breaches faster than those in the early stages of modernization.

The data is clear: hybrid cloud and AI produce cost savings in the unfortunate event that you experience a data breach.

To learn more about causes and costs of data breaches, I recommend checking out the report. In partnership with the Ponemon Institute, IBM Security publishes this report to offer insights about the causes and impacts of data breaches, and help organizations understand that security measures can mitigate the financial impacts. In addition to hybrid cloud and AI – we also looked into other factors that could help reduce the cost of a data breach when a breach occurs – including risk quantification and zero trust. It gives you insight into what security best practices were most effective for the organizations studied, and offers a look at how risk quantification services can help you understand risk specific to your organization.

How are data breaches impacting your company? Please let us know in the comments below or share your thoughts in the community discussion.


#ArtificialIntelligence(AI)
#hybridcloud
#Security
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Thu July 29, 2021 01:29 PM

Thanks, Marius for sharing this great content.