Cybersecurity investment priorities examined

VentureBeat reports that network security, identity and access management, and cloud infrastructure security have been cited by chief information security officers to be their key cybersecurity investment priorities for this year. IAM has gained steam as an investment priority amid growing concern for identity security in multi-cloud environments, according to a report from Scale Venture Partners. Cybersecurity spending for mid-sized and large enterprises has increased by 5% and 20% on average this year, with 8% of spending allocated to IAM, but the increase in emerging technology spending has declined from last year. Organizations have also spent 20% higher security budgets per employee this year. Meanwhile, more respondents have cited inadequate security personnel as the primary hindrance to achieving their targeted security posture, with hiring and retaining cloud security staff noted by respondents as the biggest challenge brought upon by the ongoing cybersecurity skills shortage. However, artificial intelligence and machine learning have been noted to be either "important" or "extremely important" in enhancing corporate security postures by the following year.