Automation and Efficiency: A Game-Changer in Today’s Economic Climate

In a stark departure from the optimism that defined the cybersecurity industry just a year ago, a growing sense of unease is gripping the sector as enterprise CISOs grapple with the economic uncertainty that has taken hold.

At the recent RSA Conference, where cybersecurity experts and industry leaders gathered to discuss the latest threats and innovations, a common theme emerged: organizations are tightening their belts and approaching new spending with caution.

“I’ve never seen anything like it,” said Roy Katmor, co-founder and CEO of Orchid Security, who attended the conference. “CISOs are reassessing priorities and putting projects on hold. It’s a wait-and-see approach, and it’s not just about cutting costs – it’s about questioning the value of every dollar spent.”

The shift in priorities is not just a matter of belt-tightening, however. According to Gartner’s recent research on CIO priorities, cost has moved to the top of the list, with three out of the top five CIO action priorities now related to cost: modeling scenarios, assessing third-party costs, and planning reductions.

One area where costs are particularly eye-watering is identity and access management (IAM), which accounts for a staggering $16 billion of the cybersecurity budget annually. While product license costs may be fixed for the year, professional services related to IAM are often variable and tied to the level of effort.

“It’s a never-ending cycle of outsourcing and over-reliance on human expertise,” Katmor said. “We’re talking about millions of dollars spent on projects that take years to complete and still leave gaps in coverage. It’s a broken system, and AI is the only way to fix it.”

AI, when properly applied, offers a game-changing solution to automate the repetitive and time-consuming tasks associated with deploying new IAM tools. Real-world projects have already validated the cost and time savings through automation, with organizations completing IGA projects in just four months at a fraction of the cost and with significantly higher coverage.

The benefits of AI-driven identity management extend far beyond cost savings, however. By automating the process, organizations can improve cybersecurity, reduce the risk of data breaches, and increase productivity.

“It’s a win-win-win situation,” Katmor said. “CISOs can show immediate value and lower costs, while system integrator partners can get a leg up on the competition and deliver better results for their customers. It’s the right tool for these tense, fast-moving times.”

As the cybersecurity industry continues to grapple with the economic uncertainty, one thing is clear: AI is the key to revolutionizing identity management and keeping pace with the ever-evolving threat landscape.

“It’s not just about cutting costs – it’s about investing in the future,” Katmor said. “AI is the future of identity management, and it’s time for organizations to take the leap.”