Half of SMEs Unprepared for Cyber-Threats

Around half (49%) of SME IT teams believe they lack the resources and staffing to defend their organization against cyber-threats, according to a new report by JumpCloud.

The survey of 612 IT decision-makers in the UK and US also found that almost half (49%) of SME IT teams have experienced layoffs in the past six months, with 28% reporting they have gone through layoffs and expect more within six months.

Nearly three-quarters (71%) of respondents added that any cuts to their security budget would increase organizational risk.

The high threat level faced by SMEs was highlighted by the fact nearly half (45%) of these organizations have fallen victim of a cyber-attack in the first half of 2024.

Of these firms, 28% have been hit by two attacks, 17% have experienced three, and 5% more than three.

Additionally, 60% of respondents said they consider security as the biggest IT challenge.

Shadow IT is a Growing Threat to SMEs

Lack of visibility and control of applications and devices without the IT team’s knowledge was cited as a concern by 84% of respondents, with 35% ‘very concerned’.

A number of challenges were highlighted in addressing shadow IT risk:

• Lack of ability to discover all the applications used by employees (31%)
• Business users moving too fast to keep up with their needs (31%)
• Lack of partnership and communication with business partners (29%)
• Not having a SaaS management or asset management solution to manage shadow IT (24%)

Many SMEs also allow employees to use a variety of devices for business purposes. The average device landscape for these organizations is made up of 63% Windows, 24% macOS and 18% Linux.

Read here: Most Security Pros Admit Shadow SaaS and AI Use

SMEs Establishing AI Integration Plans

The JumpCloud report highlighted a pickup in SMEs planning for AI use. SMEs planning AI initiatives within the next six months increased from 27% in Q1 2024 to 35% in Q2 2024.

Just 10% said they have no plans to implement AI, down from 13% when surveyed at the end of 2023.

Additionally, 82% of IT decision-makers surveyed said their organizations should be investing in AI, with 77% viewing these technologies as a net positive for the business.

Read here: Two-Thirds of Organizations Failing to Address AI Risks, ISACA Finds

Around a third (35%) said they’re worried about AI’s impact on their job, representing a significant fall from 45% who said the same in Q1 2024.

Over two-thirds (67%) of SMEs have a policy around AI.

However, concerns about AI’s impact on cybersecurity remain prevalent, with 61% agreeing that AI is outpacing their organization’s ability to protect against threats. A quarter (25%) reported experiencing AI-generated attacks in the first half of 2024.