Australian businesses face growing AI-powered threats

Palo Alto Networks, the global cybersecurity leader, published its State of Cloud-Native Security Report 2024. The report, based on extensive research conducted across 10 countries and consulting over 2,800 cloud security and DevOps professionals, identifies AI as both a catalyst for accelerated application development in the cloud and the foremost security risk. The report’s findings signify an urgent need for organisations to navigate the dual nature of AI in cloud security, balancing its potential for innovation with the imperative of robust threat mitigation strategies. Key Australian findings from the report reveal: Strong cloud investment in Australia and APJ (Asia Pacific and Japan): Australia, and Singapore exhibit strong cloud spending in higher investment brackets. In contrast, Japan, along with India, shows a significant proportion of organisations investing below $10 million in cloud computing, indicating a greater presence of small to medium-sized organisations and conservative spending strategies in these emerging markets. Cloud maturity and deployment leadership: Australia (26%), Singapore (26%), and the U.S. (24%) lead in having fully cloud-native environments, showcasing advanced cloud adoption compared to countries like France (17%) and Germany (14%). Focus on legacy application modernisation: In the APJ region, only 26% of respondents reported spending 30% or more of their cloud Total Cost of Ownership (TCO) on optimising legacy applications. This emphasises the importance of strategic planning for cloud migration projects to address security and compliance challenges effectively. AI-Powered threats: Globally, more than two in five security professionals (43%) foresee AI-powered threats evading traditional detection techniques, posing a growing risk vector. Additionally, 47% of global respondents anticipate AI-fuelled supply chain attacks compromising vital software components or cloud services. Despite these concerns, 100% of survey respondents are embracing AI-assisted application development, signalling that AI is not only here, but here to stay. Consolidation of cloud security tools: Organisations are grappling with the proliferation of cloud security tools, with respondents utilising an average of 16 tools from 14 different vendors. A staggering 91% of global respondents highlight the challenge of blind spots created by these disparate tools, hindering risk prioritisation and threat prevention. “The report findings underscore Australia’s leadership in cloud adoption and investment, demonstrating our region’s commitment to advancing cloud-native technologies,” said Steve Manley, Vice President, Australia and New Zealand at Palo Alto Networks. “However, this progress also highlights the critical need for modernising legacy applications and implementing robust AI-powered threat mitigation strategies. As cloud-native environments continue to mature, Australian businesses must navigate the complexities of cloud security to fully leverage the benefits of cloud computing. Importantly, they can prioritise security without slowing down development or adoption. In today’s context, with an ever-evolving threat landscape, Australian businesses must prioritise these security measures to ensure their cloud investments are underpinned by a resilient and secure foundation.” For Editorial Inquiries Contact: Editor Kym Bergmann at [email protected] For Advertising Inquiries Contact: Director of Sales Graham Joss at [email protected]