Deloitte Global's fourth edition of the Future of Cyber survey reveals a significant shift in how organisations approach cybersecurity, particularly in Singapore. Amid an evolving threat landscape, businesses are increasingly integrating cybersecurity into their core strategies, recognising it as essential for growth and resilience.
CISOs gain strategic influence
The survey highlights the rising influence of chief information security officers (CISOs) within organisations, with many now reporting directly to CEOs. This shift underscores the growing importance of cybersecurity at the executive level.
Emily Mossburg, Deloitte global cyber leader, explains, “As threats become more sophisticated and impactful to core business, CISOs are increasingly required to adopt a more strategic role.”
This evolution reflects the necessity for CISOs to not only protect against external threats but also to influence strategic decision-making across the organisation.
A proactive approach in Singapore
Key findings from the survey indicate that Singapore respondents are particularly proactive in their cybersecurity efforts.
Notably, 68% expect their cybersecurity budgets to be integrated with broader initiatives like digital transformation and IT programmes, significantly higher than the global average of 58%. This integration reflects a growing recognition that cybersecurity is not merely a technical necessity but a critical component of business strategy.
Moreover, over one-third of Singapore respondents reported a notable increase in CISO involvement in discussions regarding technological capabilities, especially concerning cloud computing and data analytics. This shift aligns with the broader trend of organisations recognising the need for cybersecurity to be embedded across all functions.
Direct reporting to CEOs
Interestingly, 19% of Singapore respondents indicated their CISOs now report directly to the CEO, a notable change from traditional reporting structures that often saw them aligned with the Chief Information Officer (CIO). This realignment highlights the increasing trust and recognition of the CISO's role in safeguarding organisational investments in technology.
“The march toward cybersecurity budget integration tracks closely with the emerging reality that cybersecurity is a driver of business ambitions,” said Thio Tse Gan, Deloitte cyber leader for Southeast Asia.
This sentiment is further illustrated by the fact that 91% of Singapore respondents are embedding privacy concerns into early product development stages, a practice that enhances customer data protection and fosters digital trust.
Emphasis on AI in cybersecurity
Source: Deloitte Future of Cyber Survey, Singapore data, Deloitte 2024
The survey also reveals a robust focus on artificial intelligence (AI) within cybersecurity initiatives. Approximately 43% of Singapore respondents reported substantial use of AI in their cybersecurity programmes.
The top AI capabilities reported include advanced cybersecurity simulations (51%), faster response times to threats (49%), and automated security responses (49%). However, with these advancements come new risks, particularly related to Generative AI, including data poisoning and gaps in existing processes.
The evolving role of cybersecurity leaders
In summary, the Deloitte Global Future of Cyber survey emphasises that cybersecurity is evolving from a reactive measure to a proactive strategy, integral to business success.
As organisations in Singapore and beyond navigate this shifting landscape, the role of cybersecurity leaders, particularly CISOs, will continue to expand, shaping not only how companies protect their assets but also how they innovate and grow in an increasingly digital world. The enhanced focus on cybersecurity underscores its critical role in driving business strategy and ensuring long-term resilience.