Security News > 2020 > May > Nearly 70% of major companies will increase cybersecurity spending post-coronavirus
Nearly 70% of major organizations plan to increase cybersecurity spending due to the effects of the coronavirus pandemic, a LearnBonds report found.
The increase in cybersecurity spending means cutting in other areas of the IT budget, according to the research.
While AI itself might be increasing, spending on augmented reality and virtual reality, blockchain, and edge computing is falling, with only 32%, 30%, and 27% of businesses planning to increase spending on those areas, respectively, in 2020, according to the research.
These solutions are expected to see a significant drop this year, with 23% of major companies planning to cut investments on those technologies as cybersecurity comes into greater focus.
For more, check out How to maintain safe cybersecurity practices while transitioning workers from the office to remote workstations.