Insights From The IBM 2023 Cost of a Data Breach Report
Joseph J. Lazzarotti of JacksonLewis writes:
The annual Cost of a Data Breach Report (Report) published by IBM is reliably full of helpful cybersecurity data. This year is no different. After reviewing the Report, we pulled out some interesting data points:
Is it beneficial to involve law enforcement in a ransomware attack? According to the Report, organizations that did not involve law enforcement in a ransomware attack experienced significantly higher costs, as much as $470,000. Nearly 40% of respondents did not involve law enforcement.[…]
AI has many benefits, including controlling data breach costs. There are two significant drivers of data breach costs – time to detect and time to contain. Shortening one or both of these can yield substantial costs savings when dealing with a data breach. According to the Report, the extensive use of security AI and automation resulted in reducing breach detection and containment by 108 days on average, and nearly $2 million in cost reduction. Even limited use of AI shortened the response time by 88 days, on average.
No time to read the entire IBM report right now? Read Joe’s helpful post at
Workplace Privacy, Data Management & Security Report.