2020 was a year that didn’t start off with the traditional drum beat of risks and threats. Since our global survey of 750 participants concluded, we have seen various events take place that have dramatically changed the way we work, the way we remain competitive in these global conditions, and how we look for new business opportunities in the midst of uncertain times. Digital Transformation (DX) is not a new term for most businesses, but it is one that is quickly reinventing global organizations to pivot their sales execution models and the way they service their customers to meet these new demands. Enter, the 2020 edition of the Oracle and KPMG Cloud Threat Report.
This 3rd installment from Oracle and KPMG, that was recently announced, provides detailed insights into the key challenges, risks and opportunities that businesses are experiencing as they continue their cloud adoption trends. We look at where cloud is finding success, as well as highlighting where risk and threats continue to grow and cause concern. A record number of respondents (75%) indicated that their high level of trust in the cloud exceeds that of their own data centers, which highlights the growing trend of budget and staffing shortfalls, as well as current capabilities to respond to emerging threats.
At the same time, 92% of respondents simply are not confident that they are managing their cloud strategy effectively within the context of security.This disparity is alarming and should be viewed as a call to action by the new wave of CISOs entering the industry this year where we see 73% of organizations are planning to hire a CISO with more cloud security skills than before.These CISOs will have their work cut out for them. Businesses are being impacted by a lack of understanding in foundational elements such as the cloud shared responsibility security model. 67% of respondents do not feel comfortable in their knowledge of shared responsibility. This is a dramatic increase over 2019 (54%) which shows the knowledge gap is accelerating.
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