Logicalis Ireland, the IT solutions and managed services provider, today announces the results of a survey which shows that CIOs see corporate extortion and ransomware as the biggest security threats of this year. The global research, carried out by Logicalis, surveyed 890 CIOs across 23 countries, including 34 from Ireland.

Seventy-two per cent of CIOs pinpointed corporate extortion and ransomware as the most significant risks to businesses, followed closely by attacks targeting corporate systems and application vulnerabilities (60%). Also high on the radar are increasingly sophisticated social engineering attacks (58%), identity and credential hijacking (43%), and malicious insiders (30%).

Furthermore, one in three CIOs admitted that concerns over security have led to the curtailment or cancellation of IT projects within their organisations, and that security is one of the main stumbling blocks when it comes to embracing digital transformation.

The survey also highlighted other barriers to digital transformation including organisational culture (56%), cost (50%), complex legacy technology (44%) and a lack of skills (34%). Overall, there has been slow progress within this area over the last year, with only 5% of CIOs considering their organisations to be digital innovators.

Despite this, CIOs expressed big plans to push digital enablement forward, with just 11% having no desire for transformation. Moreover, over half plan to replace and/or adapt existing infrastructure and an equal amount hope to bring about culture change. More than a third aim to address skill shortages with increasing training and development, while 31% expect to invest in extra security capabilities.

In Ireland, CIOs see the value of IT in delivering business outcomes as very important, with more than a quarter already using the Internet of Things. The fact that many are seeing benefits is also positive, with the majority noting the improvement of operations as a key advantage.

Andrew Baird, CEO, Logicalis Ireland

In relation to the findings, Andrew Baird, CEO, Logicalis Ireland, commented: “It has never been more important for businesses to focus on security. Irish companies may not realise that they are leaving themselves vulnerable to serious threats such as corporate extortion and credential hijacking, the results of which could be catastrophic.

“It’s vital that organisations take the necessary steps to help protect their infrastructure and assets against cyberattacks. This will also provide them with the confidence they need to fully embrace digital transformation, something which is needed, with only 5% of CIOs considering their businesses to be digital innovators.

“However, this is an area where Irish companies should, and can, look to steal a lead o their international counterparts, with over a quarter of Irish organisations having already implemented Internet of Things solutions. Hopefully, we are on the right track to digital enablement.”

Written by Jim O Brien/CEO

CEO and expert in transport and Mobile tech. A fan 20 years, mobile consultant, Nokia Mobile expert, Former Nokia/Microsoft VIP,Multiple forum tech supporter with worldwide top ranking,Working in the background on mobile technology, Weekly radio show, Featured on the RTE consumer show, Cavan TV and on TRT WORLD. Award winning Technology reviewer and blogger. Part time actor and security professional and brutally honest when it comes to opinions.