Read full reportThe digital landscape is evolving at an unprecedented pace, creating an environment where cyber security threats are not only more frequent but also increasingly sophisticated. In Australia, ransomware has emerged as a particularly pernicious threat, with organisations across various sectors reporting substantial incidents. The 2023/2024 Annual Cyber Threat Report highlights ransomware incidents have risen sharply, prompting the Australian Cyber Security Centre (ACSC) to call for enhanced security measures to combat this pervasive issue. Alongside the rise of ransomware attacks, the transition to cloud infrastructures has introduced new vulnerabilities and has expanded the attack surface, while organisations also struggle to manage complex security challenges related to identity access and credential management.
Moreover, many organisations remain reliant on legacy systems that lack modern security features, leaving them vulnerable to exploitation. The dual nature of artificial intelligence adds another layer of complexity; while AI can enhance defensive capabilities, it is also being harnessed by cybercriminals to create more sophisticated attacks.
As the threat landscape continues to evolve, it becomes imperative for organisations to implement robust security frameworks and strategies that not only mitigate risks but also foster a culture of security awareness among employees. This report aims to elucidate the key challenges within the current threat landscape and propose actionable strategies for organisations to enhance their cyber security posture.
Key Findings:
- Ransomware attacks in Australia have surged in frequency and complexity, impacting organisations across all sectors, with many facing ransom demands exceeding $1 million.
- The shift to cloud environments has introduced new vulnerabilities related to identity and access management, while reliance on legacy systems exacerbates security risks due to outdated technology and inadequate patch management.
- Additionally, the proliferation of artificial intelligence in both defensive and offensive capacities presents a unique challenge, as cybercriminals leverage AI to enhance their attacks.
- The cybersecurity talent pool remains largely untapped, with organisations struggling to find qualified professionals locally, leading to offshoring of staff.
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Exclusive membership organisation, Factor, has launched a new Research and Advisory arm, aimed at helping both C-Suite leaders and providers in the enterprise and public sectors.
It comes after Factor rebranded at the beginning of the 24/25 financial year, with the new identity representing an expanded vision and commitment to offering top-tier thought leadership and networking opportunities to senior executives across ANZ, Singapore and a number of other countries and regions. Now, the new arm of Factor is being spearheaded by VP and Head of Research Craig Baty and VP of Advisory Partnerships Shayne Arundell.
Factor
With over 30 years of C-level experience in ICT, HR, marketing, sales, operations, market research, and international business, Craig brings a wealth of knowledge and expertise to Factor.
“I’m pleased to be part of Factor’s expansion into Research & Advisory services, and I’m looking forward to sharing actionable insights with our members and providers to guide them on best practices in the market,” says Craig.
Craig has held a number of C-level roles including his own start-up, Global VP Global Marketing and VP Digital Services in Fujitsu Tokyo HQ and CTO & Head of Marketing for APAC. He also served as Distinguished Lead Analyst for ISG and established the Provider Lens research arm in AP. As Group VP and Head of Research for Gartner AP/J and CEO of Gartner Japan he earned the first AP/J Gartner Thought Leadership award, established what is now Gartner for Marketing, and pioneered the Gartner SWOT analysis methodology.
Factor
While, Shayne Arundell, a seasoned leader with a proven track record of success in the APAC region. Bringing over 15 years of Partnerships experience to Factor from FMCG, Fintech and Research and Advisory industries.
Shayne is also a Gartner alumni, previously serving as Director of Enterprise Sales, and as APAC Vice President for Intelligence Cloud at Korn Ferry, both being leading global consulting firms.
“Factor is the newest leader in advisory, backed by fiercely local insights, from an extensive market research database you won’t see anywhere else,” Shayne explains.
Within our expertise Factor will cover a range of topics, including, but not limited to:
- Artificial Intelligence and Machine Learning
- Cyber Security
- 5G Landscape
- Hybrid Cloud
- Technology Profitability
- AU Fintech
- Digital Transformation and Enablement
- CX, EX, UX
Both Craig and Shayne are supported by Factor’s team of experts and analysts, including Director of Insights and Value, Darren Adams, who is a highly regarded professional in the APAC data and analytics space, drawing on his experience in communications, client relations, B2B marketing, data and strategy in the technology sector.
“People are at the heart of everything we do at Factor, and data is our key in transforming their interactions into understandings. I'm excited to share cutting-edge insights and understanding with our community, to help foster deeper, lasting and beneficial connections,” Darren says.
While Factor’s Editor-In-Chief, Madeline Palmer, an expert media professional, oversees a broad range of strategic, editorial, and managerial tasks to ensure the production and dissemination off high-quality research content.
“Our new membership app will be one-stop shop for all technology leaders to connect and learn through events, advisory and multi-media content, and I am looking forward to being part of that journey,” says Madeline.
The Directions™ portal on Factor’s new membership app is a cutting-edge platform, allowing users explore a repository of reports and other content, as well as create their own research visualisations with Factor’s existing database.
Factor’s CEO and founder, Josh Heid, says this new phase for the company is something he’s been working towards for quite some time.
“After six incredible years of empowering and enabling leaders, our rebrand as Factor, coupled with the launch of our Research and Advisory arm, is about offering our members and providers with the best services and products the market can offer,” Josh explains. “I’m very proud of the team at Factor and what we have built.”
For more information about Factor’s new Research and Advisory offerings click below.
