Swiss Firms Seek to Counter AI Threats With AI Responses

Rhea-AI Summary

The 2024 ISG Provider Lens™ Cybersecurity report for Switzerland reveals that Swiss enterprises are seeking AI-enhanced cybersecurity solutions to counter growing AI-powered cyber threats. Key findings include:

1. Midsize Swiss firms prefer locally based cybersecurity providers, valuing 'Swissness' and cultural alignment.
2. Companies are turning to external services like security operations centers due to a shortage of cybersecurity specialists.
3. Stringent regulations are driving stronger security measures, especially in data protection.
4. There's a growing interest in providers offering services within Switzerland, particularly for cloud solutions and SOCs.
5. The report evaluates 89 providers across 7 quadrants, naming several Leaders in multiple categories.

Positive

• Growing market for AI-enhanced cybersecurity solutions in Switzerland
• Increased demand for external cybersecurity services and SOCs
• Strong preference for locally-based providers, benefiting Swiss companies
• Evaluation of 89 providers across 7 quadrants, indicating a competitive market

Negative

• Shortage of cybersecurity specialists in Swiss companies
• Increased cybersecurity risks due to AI and quantum technology advancements
• Stringent legal regulations forcing companies to implement stronger security measures

Cybersecurity Expert

Swiss enterprises are increasingly turning to sophisticated cybersecurity measures to combat the growing threat of AI-enhanced cyberattacks. This shift is not only a response to advancements in AI and quantum technologies that could potentially harm their operations, but also a necessity driven by stringent legal regulations.

From my perspective, the strategic move by midsize Swiss enterprises to prefer local cybersecurity providers underscores a important trend — 'Swissness,' or the trust in local resources. This local trust is pivotal in sectors like banking, where data privacy is paramount. By leveraging locally based cybersecurity services, these enterprises ensure compliance with stringent Swiss data protection laws and maintain a high trust level among stakeholders.

However, this trend also highlights a significant challenge: the shortage of cybersecurity specialists. Swiss companies are increasingly reliant on external services, such as Security Operations Centers (SOCs), to fill this gap. This dependency on external expertise must be managed carefully to avoid potential vulnerabilities.

Overall, while the emphasis on local providers ensures compliance and trust, the reliance on external services due to a talent shortage could pose risks in the long term.

Financial Analyst

The reliance on advanced cybersecurity measures by Swiss enterprises reflects broader market dynamics where cybersecurity spending is on the rise. This trend is particularly important for investors focusing on tech and cybersecurity stocks. Companies that are named leaders in multiple quadrants of the ISG report, such as IBM, Eviden and Swisscom, are likely to see a positive impact on their stock prices due to increased demand for their services.

From an investment perspective, Swisscom and other local providers have a unique advantage because of the 'Swissness' factor. Their ability to offer locally based solutions not only attracts more business but also positions them favorably against global competitors. This could result in stronger financial performance and potentially higher returns for investors.

On the flip side, companies classified as 'Rising Stars' like Kudelski Security and Skyhigh Security represent potential high-growth opportunities. These firms are recognized for their promising portfolios and high future potential, making them attractive for investors seeking growth stocks in the cybersecurity sector.

Market Research Analyst

The ISG report highlights a critical shift in the cybersecurity landscape for Swiss enterprises, especially midsize companies. The emphasis on locally based cybersecurity solutions is driven by stringent legal regulations and a cultural preference for trusted local resources. This shift is indicative of a larger trend in the cybersecurity market where localized solutions are becoming increasingly important.

For market analysts, it's essential to note the competitive landscape highlighted by the report. Companies like IBM, Swisscom and Accenture being named as leaders in multiple quadrants indicates a highly competitive and consolidated market. The focus on innovative solutions like AI and automation by these leaders suggests that future market growth will be driven by technological advancements and the ability to offer proactive cybersecurity measures.

Moreover, the report also points to the growing importance of customer experience in cybersecurity services, as evidenced by Zensar Technologies' recognition as the global ISG CX Star Performer for 2024. This trend emphasizes that beyond technical capabilities, the ability to deliver exceptional customer experiences will be a key differentiator in the market.

Midsize Swiss enterprises often demonstrate a preference for cybersecurity solutions and services that are locally based, ISG Provider Lens™ report says

ZÜRICH--(BUSINESS WIRE)-- Swiss enterprises that are feeling an increased risk of AI-enhanced cyberattacks are looking for solutions and services that can provide equally sophisticated cybersecurity protection, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland finds that although advances in AI and quantum technology could lead to new and more devastating threats to Swiss enterprises, a growing number of cybersecurity providers are poised and ready to fight fire with fire. Enterprises in Switzerland increasingly expect these providers to implement innovative solutions, including AI, automation and proactive prevention services, to stay ahead in the race against cybercriminals, the ISG report says.

“Many Swiss companies, especially midsize ones, are suffering from a shortage of cybersecurity specialists,” said Uwe Ladwig, managing director, ISG Switzerland. “That is why their IT managers are turning to external services, such as security operations centers, for assistance.”

Concerns about cybersecurity extend beyond the company’s own protection, the ISG report says. Stringent legal regulations are forcing Swiss enterprises to implement stronger security measures to prevent cyberattacks, the report says. These measures apply especially to data protection, which has long been a top priority in Switzerland, a country known throughout the world for the privacy of its banking, ISG says. The assets of these big banks are heavily dependent on data, the ISG report says.

In addition, there is generally greater trust in Switzerland's own resources, the ISG report says. According to the report, this attitude has been further strengthened in recent years by concerns about the data protection agreement with the U.S. As a result, providers of IT products and IT services that can offer those services in Switzerland are attracting greater interest from Swiss enterprises, ISG says. According to the report, this applies especially to the operation of solutions, such as cloud solutions and security operations centers. Midsize Swiss companies, in particular, seem to attach considerable importance to what is commonly referred to as “Swissness,” and are apt to give an edge to locally based providers, the ISG report says.

“Midsize Swiss enterprises often have distinct cybersecurity requirements,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “When looking for a provider, they consider communication and cultural aspects as particularly important in the decision-making process.”

The report also examines how what was once just considered IT security has steadily evolved into corporate security.

For more insights into the cybersecurity challenges that enterprises in Switzerland face, including contending with regulations and anticipating future threats, and ISG’s advice for addressing them, see the ISG Provider Lens™ Focal Points briefing here.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland evaluates the capabilities of 89 providers across seven quadrants: Identity and Access Management, Extended Detection and Response (Global), Security Service Edge (Global), Technical Security Services, Strategic Security Services, Managed Security Services – SOC and Managed Security Services - SOC (Midmarket).

The report names IBM as a Leader in five quadrants, while Eviden and Swisscom are named as Leaders in four quadrants each. Accenture, Deutsche Telekom, HCLTech, InfoGuard, ISPIN and United Security Providers are named as Leaders in three quadrants each, while Aveniq, Capgemini, Microsoft, Palo Alto Networks and Wipro are named as Leaders in two quadrants each. Axians, Bechtle, Broadcom, Cato Networks, Cisco, CrowdStrike, Deloitte, DXC Technology, Ergon Informatik, Forcepoint, Fortinet, KPMG, Netskope, Nevis, Okta, Orange Cyberdefense, Ping Identity, SailPoint, SentinelOne, TCS, Trend Micro, UMB, Versa Networks, Wavestone and Zscaler are named as Leaders in one quadrant each.

In addition, Kudelski Security, Skyhigh Security, Thales and Trellix are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

In the area of customer experience, Zensar Technologies is named the global ISG CX Star Performer for 2024 among Cybersecurity – Solutions and Services partners. Zensar Technologies earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry.

Customized versions of the report are available from InfoGuard and Swisscom.

The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Switzerland is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of insights to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240722593627/en/

Press:

Philipp Jaensch, ISG

+49 151 730 365 76

philipp.jaensch@isg-one.com

Matthias Longo, for ISG

+49 152 341 464 63

matthias@longo-pr.de

Source: Information Services Group, Inc.

FAQ

What are Swiss firms doing to counter AI-enhanced cyber threats?

Swiss firms are seeking equally sophisticated cybersecurity protection, including AI-enhanced solutions and services, to counter the increasing risk of AI-powered cyberattacks.

Why are midsize Swiss enterprises preferring locally based cybersecurity providers?

Midsize Swiss enterprises prefer locally based providers due to a concept called 'Swissness', valuing communication and cultural aspects in the decision-making process for cybersecurity solutions.

How is the shortage of cybersecurity specialists affecting Swiss companies?

The shortage of cybersecurity specialists is leading Swiss companies, especially midsize ones, to turn to external services such as security operations centers (SOCs) for assistance with their cybersecurity needs.

What impact do stringent legal regulations have on Swiss enterprises' cybersecurity measures?

Stringent legal regulations are forcing Swiss enterprises to implement stronger security measures, particularly in data protection, to prevent cyberattacks and comply with legal requirements.

How many providers were evaluated in the 2024 ISG Provider Lens™ Cybersecurity report for Switzerland?

The 2024 ISG Provider Lens™ Cybersecurity report for Switzerland evaluated the capabilities of 89 providers across seven quadrants in various cybersecurity solutions and services.