Indian Businesses Invest in AI, But Lack Ransomware Readiness

New Delhi, Nov 12 (PTI) Spotlighting a critical vulnerability in the country's cybersecurity landscape, a recent report has said while Indian businesses are actively looking to capitalise on AI and investments are rising, only 39 per cent of them are prepared to survive a prolonged ransomware attack.

Cybersecurity firm Sophos on Tuesday unveiled the "Cybersecurity Playbook for Partners in Asia Pacific and Japan", which stressed the urgent need for enhanced security measures as organisations increasingly face sophisticated cyber threats, especially those augmented by artificial intelligence (AI).

The findings revealed that while 70 per cent of Indian organisations have implemented cloud security strategies and over half of the respondents surveyed are investing in AI-driven security measures, a significant gap remains in overall preparedness.

"Only 49 per cent have established security maturity frameworks and 44 per cent report meeting security standards. Additionally, just 39 per cent feel prepared to withstand a prolonged ransomware attack, underscoring the ongoing need for robust cybersecurity advancements," the report said.

While Indian businesses are embracing AI to enhance operations, they also recognise its dual nature -- both as an asset and as a potential security risk, it added.

The research, conducted in July 2024, surveyed 900 companies across India, Australia, Japan, Malaysia, the Philippines, and Singapore, of which 200 were from India.

Commenting on the dual nature of AI in cybersecurity, Sunil Sharma, Vice President of Sales for Sophos in India, said enterprises are taking AI seriously, both as a powerful ally and a potential threat.

"The fact that organisations are significantly boosting their cybersecurity budgets is a great sign that the country is committed to protecting its digital infrastructure. The growing investment in key areas such as threat detection, incident recovery, and data protection not only reflects the proactive stance of Indian businesses but also highlights their readiness to tackle the complex challenges posed by AI-driven cyber risks," he said.

Further, the survey revealed that only 5 per cent of Indian firms depend on a single security vendor, while 71 per cent utilise three or more to handle their cybersecurity demands. Multi-vendor setups are anticipated to increase as businesses look for specialised, adaptable solutions.

The increasing investments in cybersecurity and the preference towards multiple expert vendors present a significant opportunity for MSPs to help enterprises improve their customers' defences with a customised approach, Sharma said.