Cisco’s latest Malaysia-based study for this year’s Cybersecurity Readiness Index has revealed some dreadful results – only 2% reached the level of ‘Mature’ in readiness level.

Cisco 2024 Cybersecurity Readiness Index Results

With hyperconnectivity and rapid threat escalation being the main targets in today’s era, Cisco has focused on identifying 5 key pillars of Identity Intelligence, Network Resilience, Machine Trustworthiness, Cloud Reinforcement, and AI Fortification, to find out how companies fare in these categories. Over 8000 organizations participated in this study across 30 different markets so there’s a wide variety of responses.

Here’s a simple summary of the key findings:

  • Only 2% of Malaysian companies are ready to tackle threats and fit in the “Mature” tier; 66% fall into the “Beginner” or “Formative” stages; 3% of companies globally belong in the “Mature” category
  • 77% of respondents expect cybersecurity-related incidents to impact their business in the next 1-2 years; 73% already experienced it in the past year with 44% of them costing them at least USD30,000
  • Traditional adoption strategy is not effective anymore as 87% of respondents admit multiple-point solutions resulted in slower detection, response, and recovery; 68% of them deployed 10 or more point solutions while 24% had 30 or more
  • 92% of companies have employees access company resources from unmanaged devices; 44% of them have 20% of their time logged into company networks with said devices; 26% of them have employees hop between at least 6 networks or more in a week
  • In terms of talent shortage in the field of cybersecurity, 91% agreed that it is an issue while 44% of them said that they have 10 or more roles in said field that are currently unfulfilled
  • Investment in cybersecurity efforts is ramping up with 59% planning to upgrade their IT infrastructure in the next 1-2 years

Need more information or numbers? Click here to get to the report.

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