Learn from the experiences of more than 550 organizations that were hit by a data breach by exploring the comprehensive findings from the Cost of a Data Breach Report 2023. This report provides valuable insights into the threats organizations face and offers practical recommendations to upgrade cybersecurity and minimize losses.

It reveals that the global average cost of a data breach in 2023 was USD 4.45 million, a 15% increase over three years. 51% of organizations are planning to increase security investments following a breach, including incident response (IR) planning and testing, employee training, and threat detection and response tools.

The report also highlights that organizations using security AI and automation extensively save an average of USD 1.76 million compared to those that don’t. Only 28% of organizations used security AI extensively, which reduces costs and speeds up containment.

Innovative technologies such as IBM Security® QRadar® SIEM leverage AI to investigate and prioritize high-fidelity alerts based on credibility, relevance, and severity of risk. Additionally, IBM Security® Managed Detection and Response (MDR) Services use both automated and human-initiated actions to provide visibility and stop threats across networks and endpoints.

Organizations are encouraged to look for solutions that provide visibility across hybrid environments and protect data as it moves across clouds, databases, apps, and services. IBM Security Guardium, for example, supports the uncovering, encryption, monitoring, and protection of sensitive data across more than 19 hybrid cloud environments.

Employing a DevSecOps approach and conducting penetration and application testing are also highlighted as essential cost-saving factors in the report. X-Force® Red, a global team of hackers, offers security services including penetration and application testing, vulnerability management, and adversary simulation.

For effective incident response, the IBM Security® Randori platform uses a continuous, accurate discovery process to uncover known and unknown IT assets, while X-Force® IR emergency support and proactive services assist in testing cyberattack readiness plans and minimizing the impact of a breach. Overall, IBM Security offers an integrated portfolio of products and services infused with security AI and automation capabilities to predict threats, protect data, and respond with speed and precision while allowing for innovation.