Cybersecurity budgets increase but so do incidents

Cybersecurity budgets are rising as organizations recognize the growing threat landscape, but despite increased spending, cyber incidents have surged by 66% over the past year. Companies are turning to managed security services providers (MSSPs) and data-driven strategies to address cloud-based threats more effectively. However, nearly three-quarters of organizations still struggle to fully understand their vulnerabilities, highlighting a need for comprehensive risk management approaches that include technologies like AI/ML and automation tools for threat detection and response.