Skip to content

Insight

  • Insight

Automation Seems to Worsen Present IT Skills Shortage

Automation Seems to Worsen Present IT Skills Shortage

Automation Seems to Worsen Present IT Skills Shortage
Automation Seems to Worsen Present IT Skills ShortageAs banks continue to source IT talent, banks need to understand the challenges of automation and security to find the candidates that are up to the task.  Automation will not reduce the need for IT security professionals. Many activities will require highly technical staff, intensifying the skills gap further.

That is among the revelations from a new Ponemon Institute survey report, “Staffing the IT Security Function in the Age of Automation,” sponsored by Seattle-based DomainTools, which studied how organizations address the need to hire and retain qualified IT security practitioners and the effects of automation and AI.

IT security functions remain understaffed and vulnerable. One of the major barricades to a robust security position, according to the research, is not having a security team capable of handling intricate and serious internal and external threats to the organization. “Unfortunately, improvements in staffing are not happening,” according to the Ponemon research.

More than surveyed 600 IT and IT security practitioners – including almost 20% from financial services, who participate in attracting, hiring, promoting and retaining IT security personnel within their companies – disclosed companies are falling behind in keeping IT security functions, already suffering from acute deficiencies, adequately staffed with the adoption of automation technologies.

More respondents in this year’s study specified they have shorthanded IT security departments than in 2013 (75% vs. 70%). Specifically, only 25% of respondents said their organizations have no trouble finding qualified candidates, compared to 34% in 2013. Only 28% reported their organizations have no difficulty retaining qualified candidates compared to 42% of respondents in 2013. Compounding the matter, 76% believe machine learning and artificial intelligence tools and services exacerbate the problem by growing the necessity for more highly skilled IT security staff.

Forty-one percent of firms said the inability to properly staff security positions increased investment in cyberautomation tools. Yet despite the hype around this technology, only 26 % of organizations currently use automation tools as part of IT security, and only 15 % stated that AI is a dependable and trusted security tool for their organization.

“One of the biggest barriers to a strong security posture is attracting and retaining the right people that can deal with complex and serious internal and external threats to the organization,” Dr. Larry Ponemon, chairman and founder of the Traverse City, Mich.-based Ponemon Institute, said. “This research reveals that despite the adoption of advanced and automated tools, the skills gap has increased, leaving organizations more vulnerable than ever before.”

The research also found an understanding of potential cybersecurity threats is important for entry-level and highly experienced job candidates. Respondents said their organizations have great expectations that highly experienced job candidates will bring more general knowledge to their positions.

The top three categories of general knowledge for entry-level candidates are an understanding of potential cybersecurity threats (39%), familiarity with security regulations and standards (25%) and experience with intrusion prevention and detection systems (19%). Similarly, expect highly experienced job candidates to understand potential cybersecurity threats (85%), experience with intrusion prevention and detection systems (81%) and an understanding of information security frameworks (75%).

Additional survey findings:

  • Sixty-three percent said human involvement in security is important in the age of automation.
  • Sixty percent believed automation will improve their IT security staff’s ability to do their jobs because it will enable them to focus on more serious vulnerabilities and overall network security (68% of respondents).
  • Only 23% said automation will reduce the headcount of their IT security function.
  • Sixty percent indicated on-the-job experience is more in demand than a degree.

Subscribe to CCG Insights by CCG Catalyst Consulting Group.

Print Friendly, PDF & Email

You Might Like These, Too

Open APIs – Understanding the Technology and Components

Open APIs – Understanding the Technology and Components

Open Banking: The Path to FI Enablement

Open Banking: The Path to FI Enablement

Is the Fight Over Venmo Access a Bad Sign for Open Banking?

Is the Fight Over Venmo Access a Bad Sign for Open Banking?

Financial Institutions Must Sell Public on AI Benefits or Risk Losing Them

Financial Institutions Must Sell Public on AI Benefits or Risk Losing Them

Leaders in Bank Consulting

About CCG Catalyst
Latest Insights
CCG

PHOENIX • NEW YORK • LONDON • SINGAPORE

Phone: +1-480-744-2240  • Contact Us

© 2024 CCG CATALYST. Privacy Policy & Terms of Service.
Request a Call Back
Linkedin
Subscribe
to our Insights
Subscribe
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
BANK
FINTECH
FUSION
  • Approach
  • Services
  • Resources
  • Insights
  • Research
  • Team
  • Contact
  • Careers
  • Events
  • Home
Linkedin Search
Subscribe for Insights

INSIGHTS BY CCG CATALYST: FOR BANKS, FINTECHS, AND CREDIT UNIONS

The Fed, Real-Time Payments, Alexa and Apple P2P, Part of Payment Revolution
  • Weekly digest of what's new
  • New research snapshots
  • Exclusive access to banking and fintech research
  • Industry news
  • Invitations to webinars and webcasts