COVID-19 tech investments surge as cyberattacks continue

COVID-19 tech investments surge as the cyberwar continues

According to Harvey Nash/KPMG technology leadership survey, the pandemic sweeping the globe has caused a surge in COVID-19 tech investments, the likes of which has never been seen before. Companies spent an extra $15 billion per week to stave off attacks during the pandemic, and InfoSec leaders and professionals are having a trial by fire.

The survey, which is the largest of its kind, recorded responses from 4,200 IT leaders. Among the most glaring issues faced during the pandemic, leaders said that the shortage of technology skills is the most prevalent issue.

With more attacks and fewer people than needed on the defensive, cybersecurity became the most in-demand profession globally, with collective technology expenditure exceeding $250 billion.

8 in 10 IT leaders even stated that the situation has been taking a toll on the mental health of their employees.

The report showed that over 83% of attacks were a result of phishing, and another 62% from malware. This indicated that individuals working from home were prime targets of cyberattacks during the pandemic.

Many expect the remote work trend to stay post-pandemic, and so advancements in security and employee training and awareness becomes mandatory. As a result, COVID-19 tech investments have hit new highs as companies digitize to survive.

“The digital divide continues to pick up pace. Organizations that have leveraged technology as a strategy in 2020 and not just as a survival tool will outperform and out innovate their competitors”, said Sean Gilligan President, Technology Recruitment, North America – Harvey Nash Inc. “This includes using technology to enable the well-being of their remote workforce, avoid employee burnout, and intelligently scale employee productivity and hiring,” affirms Gilligan.

COVID-19 tech investments in information and communication security, infrastructure and distribution, is essential in the recovery and improvement of a business amid the current hardship and uncertainty.