AI leads new cybersecurity spending as budgets rise 5%, Old National analysis says
ONB•Old National Bancorp cited a survey of more than 500 executives in which about 70% of CISOs ranked AI as the top priority for new cybersecurity spending. Overall security spending rose 5%, slightly above the prior report’s 4% increase.
1. AI tops spending priorities
About 70% of CISOs ranked AI as the top priority for new cybersecurity spending, focusing on security-operations automation and identity access management. The survey was conducted by IANS-Artico and included more than 500 executives.
2. Budgets and hiring
Overall security spending rose 5%, compared with 4% in the prior report. Annual budgets ranged from about $1 million at firms with revenue of $100 million or less to more than $30 million at firms above $10 billion. About 80% expected AI to drive new cybersecurity roles, while about 70% did not anticipate AI-related headcount cuts.
