From the results of the two recent reports which explored cybersecurity trends, challenges and priorities for CIOs in Europe and the LATAM region, Haider Pasha, Chief Security Officer, EMEA and Latin America at Palo Alto Networks, outlines why governance and compliance is a leading professional concern for CIOs and how Palo Alto Networks is empowering them to continuously adapt their cybersecurity strategies to ensure they adopt a business-first mindset.
Can you introduce us to your Cybersecurity trends, challenges and priorities for CIOs report? What did the research set out to achieve?
In our recent research, we conducted a series of interviews with key figures across the C-suite, including CIOs, CTOs, Chief Digital Officers and security officers. The primary objective was to gain a comprehensive understanding of the current threat landscape from their perspective. Our focus was particularly on CIOs, as they play a pivotal role in shaping cybersecurity strategies within their organisations.
Through these interviews, we sought to uncover the advanced technologies that these leaders are considering and how they are navigating the complexities of internal communication. A significant aspect of our findings centred on how CIOs, CISOs and CPOs communicate with their peers in the C-suite and the methods they employ to prioritise and invest in cybersecurity technologies.
What are the most significant cybersecurity trends currently impacting CIOs and the wider c-suite?
The question of key trends in cybersecurity is indeed crucial, but the challenge lies in distilling the diverse responses into core themes. From our interviews with industry leaders, three primary areas emerged as significant.
Firstly, managing business risks stands out as a top priority, with over 25% of respondents emphasising its importance. This concern is particularly pronounced due to the evolving geopolitical situations in Europe and Latin America. Organisations must continuously adapt their strategies to address these risks while ensuring they adopt emerging technologies effectively. Artificial Intelligence (AI), for instance, is a focus area that many are beginning to integrate into their operations.
The second major theme is improving or maintaining operational resilience. Over 20% of those we interviewed identified this as a key challenge. The emphasis on resilience reflects the growing need for organisations to withstand disruptions and maintain continuity in an increasingly complex and volatile environment. The reasons behind this trend vary, but it is clear that operational resilience is central to their strategic goals.
Finally, the ability to remediate threats in real time is another critical focus. With the frequency and sophistication of cyberattacks increasing, organisations are seeking ways to leverage technologies like AI to respond instantly, rather than retrospectively. This real-time response capability is becoming essential in mitigating damage and maintaining security.
The report highlighted that governance and compliance is a leading professional concern for CIOs. Can you elaborate on this and how it affects CIOs, and the wider c-suite?
Governance and compliance have consistently been critical issues, remaining a top priority for organisations over the past two decades. While industries such as financial services and healthcare have traditionally placed a stronger emphasis on these areas, others like manufacturing have not focused as intensely. What was surprising in our recent survey is that governance and compliance emerged as the highest-rated challenge, with 20% of respondents identifying it as a primary concern. Additionally, around 18% highlighted the importance of ROI, marking these as the leading issues among respondents.
The growing significance of governance and compliance is particularly evident in an environment where regulatory mandates are becoming increasingly stringent, especially concerning data protection. In Europe, for instance, the upcoming NIS2 regulation, set to launch on 24 October, represents a significant shift. This regulation will hold Boards of Directors and the entire C-suite accountable for failing to exercise due diligence in cybersecurity. Unlike previous regulatory frameworks that mainly imposed fines, NIS2 introduces the possibility of suspensions, making non-compliance a serious professional risk. This has undoubtedly captured the attention of board members and senior executives, emphasising the critical importance of adhering to governance and compliance standards.
In addition to NIS2, other regulations such as DORA, the AI Act and the Cyber Resilience Act are also reshaping the landscape. Similarly, in Latin America, particularly in financial services in Brazil and Mexico, regulations are increasingly holding boards accountable for cybersecurity protocols. The emphasis on governance and compliance is therefore becoming a global trend, underscoring its vital role in modern cybersecurity strategies.
This report focuses on key cybersecurity trends, challenges and priorities for CIOs. Based on the findings, what should CIOs do to adapt their cybersecurity strategies accordingly?
If you speak with any CIO today, they’ll likely have a long list of initiatives they wish to pursue. However, understanding the evolving nature of the CIO role is crucial. Today, a CIO is not just a Chief Information Officer; they are increasingly becoming a Chief Information Business Officer or even a Chief Information Business Security Officer. The same applies to CISOs. These roles are now more aligned with business strategy than ever before.
The first key aspect for a CIO is to adopt a business-first mindset. This involves close collaboration with business leaders across the organisation, driving both efficiency and innovation. The CIO must not only focus on traditional IT functions but also understand how these functions support broader business objectives.
Secondly, understanding the customer is essential. For a CIO, the customer isn’t just external but includes internal stakeholders – business leaders across different functions. It’s vital to comprehend their needs and how IT initiatives can enhance overall service quality and satisfaction within the organisation. This internal customer focus is as important as serving the external market.
Lastly, the CIO must act as a champion for Digital Transformation within the business. However, it’s not just about leading IT initiatives; it’s about empowering other business leaders to take ownership of these projects. In this new era, the role of the CIO is less about deploying IT projects independently and more about fostering cross-functional collaboration. The ability to share power and responsibility with other business units is a significant shift from the traditional view of the CIO role.
Click here to read part two – Cybersecurity trends, challenges and priorities for CIOs – Part Two
