Challenges Facing Small and Medium-Sized Enterprises (SMEs) in the Digital Age

Embracing Artificial Intelligence (AI) and Managing Cybersecurity Risks

Small and medium-sized enterprises (SMEs) are facing a multitude of challenges, with the need to fend off cyber threats coexisting with the recognition that artificial intelligence (AI) is an area where investments must be made.

The consequence of embracing AI, which can deliver useful insights as long as it can access data, is that security risks are continuing to rise.

The Rise of AI-Generated Attacks

There is already a link between emerging technology and criminals, with 25% of all cyber security incidents suffered by SMEs coming from AI-generated attacks.

The Role of Managed Service Providers (MSPs) in SME Cybersecurity

The number of SMEs using a partner to take the burden off the shoulders of their internal IT teams has risen from 39% to 51% in the past year.

There are signs that the shift towards the channel will continue, with 67% indicating they plan to increase their investment in the next 12 months.

Shadow IT and the Need for Better Visibility and Management Tools

Aside from AI, the other areas causing sleepless nights for customers was dealing with shadow IT, with significant volumes of devices and applications operating outside a corporate network.

As a result, many customers want better visibility and management tools to deal with shadow IT.

The Impact of the Recent Election on SMEs

SMEs also told JumpCloud that the recent election had been unhelpful in causing greater uncertainty.

Positive Trends in SME Cybersecurity

There were some positive responses around security, with biometrics emerging as an area where SMEs had embraced technology to increase employee protection.

Many also reported that feeling financially prepared to deal with attacks and investments in security expertise over the past year meant there were higher levels of confidence.

Conclusion

In conclusion, SMEs are facing a complex environment with multiple challenges, including the need to manage cybersecurity risks and invest in AI. The role of MSPs is becoming increasingly important, and SMEs are looking for better visibility and management tools to deal with shadow IT. While there are some positive trends in SME cybersecurity, the recent election has caused greater uncertainty.

FAQs

Q: What are the main challenges facing SMEs in the digital age?

A: SMEs are facing a multitude of challenges, including the need to fend off cyber threats, invest in AI, and manage shadow IT.

Q: What is the role of MSPs in SME cybersecurity?

A: MSPs are becoming increasingly important in SME cybersecurity, with 51% of SMEs using a partner to take the burden off the shoulders of their internal IT teams.

Q: What is shadow IT, and why is it a concern for SMEs?

A: Shadow IT refers to significant volumes of devices and applications operating outside a corporate network. This is a concern for SMEs because it can increase security risks and make it difficult to manage and control IT resources.

Q: How can SMEs improve their cybersecurity posture?

A: SMEs can improve their cybersecurity posture by investing in AI, using managed service providers, and implementing better visibility and management tools to deal with shadow IT.

Q: What is the impact of the recent election on SMEs?

A: The recent election has caused greater uncertainty for SMEs, which is adding to their existing challenges.