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Cyberattack fears are delaying business innovation

(Image credit: Image Credit: Christina Morillo / Pexels)

Cybersecurity fears are holding businesses back and preventing innovation (opens in new tab), according to a new report from HackerOne.

Four fifths of CISOs and CTOs polled for the report said their IT projects have been slowed down over fears of “inevitable security issues”. The vast majority (90 percent) also agreed software vulnerabilities could place the entire business at risk.

The pace of development is dictated by a number of factors. For example, CISOs and CTOs are struggling to recruit skilled staff and secure necessary funding. Almost two thirds (63 percent) believe security team resources can’t keep up with the speed of development.

For Laurie Mercer, Security Engineer at HackerOne, it’s all about finding the balance between innovation (opens in new tab) and security.

“When I started writing code, new releases of software would take six months to develop and test. Today new software is released every hour."

"This new pace of innovation poses a problem for security teams but, by implementing a strategy that supports continuous security, businesses can ensure they are on alert for any vulnerabilities that software might have. The key is to ensure security is constantly evolving," she added.

A total of 200 UK CISOs and CTOs were polled for the report.

Sead Fadilpašić is a freelance tech writer and journalist with more than 17 years experience writing technology-focussed news, blogs, whitepapers, reviews, and ebooks. And his work has featured in online media outlets from all over the world, including Al Jazeera Balkans (where he was a Multimedia Journalist), Crypto News, TechRadar Pro, and IT Pro Portal, where he has written news and features for over five years. Sead's experience also includes writing for inbound marketing, where he creates technology-based content for clients from London to Singapore. Sead is a HubSpot-certified content creator.