A recent report by Dynatrace has revealed that 72% of global CISOs have faced application security incidents in the past two years, leading to lost revenue and market share. The study, titled The state of application security in 2024, surveyed 1300 CISOs along with some CEOs and CFOs.
The findings showed that these incidents resulted in financial losses, regulatory fines, and decreased market share for many organizations. The lack of alignment between CISOs and the board was identified as a key issue, with 87% of CISOs stating that application security is often overlooked at the executive level.
One of the main concerns highlighted in the report was the role of AI in compromising application security. More than half of the respondents expressed worries about how AI could be used by cybercriminals to develop new exploits quickly and on a larger scale.
Dynatrace CTO, Bernd Greifeneder, acknowledged the dual nature of AI in driving efficiency for developers while also posing risks for organizations. He emphasized the importance of modernizing security tools and practices to protect against advanced cyber threats and comply with regulations like the SEC mandate.
Overall, the report underscores the need for organizations to stay ahead of evolving cybersecurity challenges and prioritize application security in their strategic planning.