Security News > 2023 > February > 70% of CIOs anticipate their involvement in cybersecurity to increase

Budgets expected to increase despite economic concerns.

Foundry's research shows that CIOs are optimistic about budgets going into 2023, despite the state of the economy.

56% expect an increase in budget in 2023, 35% think budgets will remain the same, and only 9% anticipate a decrease.

Despite optimism amongst most respondents, there is still caution as those that anticipate a decrease state economic instability and uncertainty as the number one reason for tech budgets decreasing in 2023.

Despite this, security is still expected to play a large part of the CIO role, as 70% anticipate their involvement in cybersecurity to increase over the next year, and 55% also anticipate their involvement in data analysis, data privacy/compliance, and AI/machine learning to increase.

In 2023, business initiatives expected to be the most significant in driving IT investments are increasing operational efficiency, increasing cybersecurity protections, transforming existing business processes, and improving the customer experience.

News URL

https://www.helpnetsecurity.com/2023/02/01/cio-cybersecurity/