Build defenses with an enterprise-wide view
Although professional services firms have mature risk management processes compared with other industries, rapidly changing AI-related threats require constant re-evaluation of controls.
Thirty-nine percent of professional services leaders say their organizations’ risk and compliance programs are advanced or leading, according to Grant Thornton’s Cyber & Risk Survey Report. But defending against today’s rapidly changing threats demands an enterprise-wide integration of controls and independent evidence that controls are working.
of services leaders report integrated or enterprise-wide risk management
report high or very high confidence in their ability to detect advanced cyber threats
What’s in the report?
- Adapting controls is essential: Professional services firms’ confidence in their controls belies the fact that 77% say better analytics and monitoring are needed to improve their fraud response. New platforms, AI tools and emerging threats all require a continuous re-examination of controls.
- AI presents threats and solutions: AI-enabled protections are needed to thwart AI-driven attacks, and professional services leaders are eager to adopt these tools. But at the same time, they understand the importance of securing their AI tools against additional threats.
- Reducing complexity can strengthen security: Although AI-enabled risk management upgrades are often needed, more tools don’t always create more protection. As security is beefed up, leaders in professional services should be mindful of overlapping solutions and adopting tools that don’t strain the capabilities of their people.
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