Cost of a data breach 2024 IBM

pBe prepared for breaches by understanding how they happen and learning about the factors that increase or reduce your costs New research from IBM and Ponemon Institute provides insights from the experiences of 604 organizations and 3556 cybersecurity and business leaders hit by a breach Empower yourself with realworld examples and expert recommendations on how to mitigate the risksppThe global average cost of a data breach in 2024a 10 increase over last year and the highest total everppShare of breaches that involved shadow data showing the proliferation of data is making it harder to track and safeguardppThe average cost savings in million for organizations that used security AI and automation extensively in prevention versus those that didntppGet the most uptodate information on the financial impact of data breaches Safeguard your data people infrastructure and your organizations bottom lineppCheck out the recommendations based on the findings of the Cost of a Data Breach Report and learn how to better secure your organizationpp pp40 of data breaches involved data stored across multiple environments Breached data stored in public clouds incurred the highest average breach cost at USD 517 millionppInnovative technologies such as IBM Guardium software provide a solution that can help you strengthen your data security programs by uncovering shadow data and protecting sensitive information across hybrid clouds IBM Verify provides deep AIinfused context for both consumer and workforce identity access management IAMppYou can also streamline this undertaking further with identity and security experts who can help you define and manage solutions across hybrid cloud environments transform governance workflows and demonstrate complianceppDiscover more about IBM GuardiumppFind data security programs for all environmentspp ppThe adoption of generative AI gen AI models and thirdparty applications across the organization as well as the ongoing use of Internet of Things IoT devices and SaaS applications are expanding the attack surface putting pressure on security teamsppApplying AI and automation that support security prevention strategies including in the areas of attack surface management redteaming and posture management can help These solutions can be adopted through fully managed security servicesppOrganizations that applied AI and automation to security prevention saw the biggest impact in reducing the cost of a breach saving an average of USD 222 million over those organizations that didnt deploy these technologiesppExplore the IBM Managed Security Services demoppRead about IBM XForce Red Testing Services for AIpp ppWhile organizations are moving quickly ahead with gen AI only 24 of gen AI initiatives are secured The lack of security threatens to expose data and data models to breaches potentially undermining the benefits gen AI projects are intended to deliverppAs gen AI adoption scales organizations should look to IBMs framework for securing gen AI data models and use along with establishing AI governance controls IBM Guardium Data Protection can extend data security to vector databases that power AI models It can help protect sensitive AI training data and extend visibility into AI misuse or data leakage Meanwhile organizations can securely innovate adapt and stay competitive with the help of IBMs data and AI security servicesppBook a live demo on GuardiumppLearn more about cybersecurity and gen AIpp pp75 of the increase in average breach costs in this years study was due to the cost of lost business and postbreach response activities The lesson investing in postbreach response preparedness can help dramatically lower breach costsppOrganizations can build muscle memory for breach responses by taking part in IBM XForce Cyber Range crisis simulation exercises These exercises can include security teams as well as business leaders so the entire organization can improve its ability to detect contain and respond to breaches IBM XForce Incident Response Services can also give you access to a team of experienced threat hunters responders and investigators who specialize in preparedness detection response and recoveryppInquire about a cyber range experienceppSchedule an XForce briefingppIBM helps protect enterprises with an integrated portfolio of products and services infused with security AI and automation capabilities Using this portfolio of offerings organizations can predict threats protect data as it moves and respond with speed and precision while allowing for innovationp