Battling the Bot Menace: A Call to Arms for Businesses
August 28, 2024, 4:55 pm
Location: United States, New York
Employees: 201-500
Founded date: 2009
Total raised: $5M
In the digital age, businesses are like ships navigating treacherous waters. The seas are filled with hidden dangers, and one of the most insidious threats comes from bots. A recent report reveals that a staggering 98 percent of organizations attacked by bots in the past year have suffered revenue losses. This is not just a statistic; it’s a wake-up call.
The State of Bot Mitigation Report from Kasada paints a grim picture. Over 220 tech professionals shared their experiences, and the results are alarming. Despite pouring resources into bot defenses, many solutions are failing. Only one in five organizations report that their bot mitigation strategies remain effective for more than a year. This is akin to building a dam that leaks from day one.
The report highlights that 67 percent of organizations rely on Content Delivery Network (CDN)-based bot detection. Yet, with 30 percent spending over a million dollars on bot mitigation in the past year, the question looms: where is the return on investment? The majority of companies are left feeling vulnerable, with 79 percent considering a switch in providers due to ineffective detection and response.
The landscape is shifting. Financially motivated adversaries are evolving faster than defenses can adapt. New technologies, particularly AI, are lowering the barriers for attackers. This means more automated threats are on the horizon. Companies need a bot mitigation strategy that is as dynamic as the threats they face. It must evolve quickly, be hard to evade, and remain invisible to customers. This is not just a recommendation; it’s a necessity.
The report also reveals that 87 percent of IT and information security specialists are worried about bot attacks and AI-driven fraud. The fear is palpable. Generative AI is making it easier for criminals to launch complex attacks. Bots are becoming smarter, capable of bypassing traditional defenses like CAPTCHAs with ease.
Web scraping stands out as a top threat. A significant 37 percent of organizations report losing over five percent of their revenue due to web scraping. Meanwhile, 34 percent have faced similar losses from account fraud. These figures are not just numbers; they represent real financial pain for businesses.
As companies grapple with these challenges, another report from Normalyze reveals a glimmer of hope. A remarkable 89 percent of organizations expect to increase their data security budgets in the coming year. This surge is driven by a rising tide of threats and stringent regulations like GDPR and HIPAA. Businesses are beginning to understand that investing in security is not just an option; it’s a lifeline.
The report highlights key security priorities. Reducing the chances of threats infiltrating data stores tops the list at 59 percent. Improving data security posture follows closely at 53 percent. Demonstrating return on investment through better reporting and communication is also crucial, with 42 percent of organizations recognizing its importance.
Data Security Posture Management (DSPM) is gaining traction, especially among larger organizations. A solid 72 percent of companies with over 10,000 employees express confidence in DSPM’s capabilities. This tool is becoming essential for visibility and security in data-heavy environments. It’s a beacon in the fog of uncertainty, guiding organizations toward better protection against data breaches and regulatory compliance.
However, challenges remain. The most common hurdles in implementing DSPM include staffing issues, vendor selection, and securing executive buy-in. These obstacles can feel like boulders in the path to progress. Organizations must prioritize data classification and governance to stay ahead of evolving threats. Without a solid foundation, any security initiative is destined to falter.
The stakes are high. The economic value of robust data security becomes clear when considering the number of projects that fail due to a lack of classified data. Insufficient understanding and alignment among leadership can derail even the most promising initiatives. Companies must secure the necessary budget and resources from the outset to avoid these pitfalls.
In conclusion, the battle against bots and data breaches is far from over. Businesses must adapt and evolve, investing in dynamic solutions that can keep pace with emerging threats. The landscape is shifting, and those who fail to act risk being left behind. The call to arms is clear: invest in security, prioritize data governance, and stay vigilant. The digital seas are perilous, but with the right strategies, businesses can navigate them safely. The future depends on it.
The State of Bot Mitigation Report from Kasada paints a grim picture. Over 220 tech professionals shared their experiences, and the results are alarming. Despite pouring resources into bot defenses, many solutions are failing. Only one in five organizations report that their bot mitigation strategies remain effective for more than a year. This is akin to building a dam that leaks from day one.
The report highlights that 67 percent of organizations rely on Content Delivery Network (CDN)-based bot detection. Yet, with 30 percent spending over a million dollars on bot mitigation in the past year, the question looms: where is the return on investment? The majority of companies are left feeling vulnerable, with 79 percent considering a switch in providers due to ineffective detection and response.
The landscape is shifting. Financially motivated adversaries are evolving faster than defenses can adapt. New technologies, particularly AI, are lowering the barriers for attackers. This means more automated threats are on the horizon. Companies need a bot mitigation strategy that is as dynamic as the threats they face. It must evolve quickly, be hard to evade, and remain invisible to customers. This is not just a recommendation; it’s a necessity.
The report also reveals that 87 percent of IT and information security specialists are worried about bot attacks and AI-driven fraud. The fear is palpable. Generative AI is making it easier for criminals to launch complex attacks. Bots are becoming smarter, capable of bypassing traditional defenses like CAPTCHAs with ease.
Web scraping stands out as a top threat. A significant 37 percent of organizations report losing over five percent of their revenue due to web scraping. Meanwhile, 34 percent have faced similar losses from account fraud. These figures are not just numbers; they represent real financial pain for businesses.
As companies grapple with these challenges, another report from Normalyze reveals a glimmer of hope. A remarkable 89 percent of organizations expect to increase their data security budgets in the coming year. This surge is driven by a rising tide of threats and stringent regulations like GDPR and HIPAA. Businesses are beginning to understand that investing in security is not just an option; it’s a lifeline.
The report highlights key security priorities. Reducing the chances of threats infiltrating data stores tops the list at 59 percent. Improving data security posture follows closely at 53 percent. Demonstrating return on investment through better reporting and communication is also crucial, with 42 percent of organizations recognizing its importance.
Data Security Posture Management (DSPM) is gaining traction, especially among larger organizations. A solid 72 percent of companies with over 10,000 employees express confidence in DSPM’s capabilities. This tool is becoming essential for visibility and security in data-heavy environments. It’s a beacon in the fog of uncertainty, guiding organizations toward better protection against data breaches and regulatory compliance.
However, challenges remain. The most common hurdles in implementing DSPM include staffing issues, vendor selection, and securing executive buy-in. These obstacles can feel like boulders in the path to progress. Organizations must prioritize data classification and governance to stay ahead of evolving threats. Without a solid foundation, any security initiative is destined to falter.
The stakes are high. The economic value of robust data security becomes clear when considering the number of projects that fail due to a lack of classified data. Insufficient understanding and alignment among leadership can derail even the most promising initiatives. Companies must secure the necessary budget and resources from the outset to avoid these pitfalls.
In conclusion, the battle against bots and data breaches is far from over. Businesses must adapt and evolve, investing in dynamic solutions that can keep pace with emerging threats. The landscape is shifting, and those who fail to act risk being left behind. The call to arms is clear: invest in security, prioritize data governance, and stay vigilant. The digital seas are perilous, but with the right strategies, businesses can navigate them safely. The future depends on it.