DSCI report: 97% of Indian organisations investing in AI & ML technology

Around 97 per cent of Indian organisations have invested in AI/ML technologies, said a report released by the Data Security Council of India (DSCI) on Friday.

Further, around 84 per cent of organisations surveyed had invested in cloud technology, according to the report titled ‘India Cybersecurity Domestic Market’ by DSCI.

The cybersecurity market in India touched $6 billion in 2023, growing at a compound annual growth rate (CAGR) of over 30 per cent during 2019-23, while the cybersecurity products segment grew by more than 3.5 times to reach $3.7 billion in 2023 from $1 billion in 2019 approximately, according to the report.

Further, the survey also estimated India's cybersecurity market to account for 5 per cent of the global market by 2028.

The report also sheds light on how threat actors are using emails as the most critical tool to target organisations, followed by phishing, where about 90 per cent of the organisations recognised email as the foremost and most critical pathway for cyberattacks, and 84 per cent acknowledged phishing as the predominant cyber threat confronting their industry.

The cybersecurity talent shortage has become a significant concern for the country’s end-user organisations and security companies, the report underlines. While around 75 per cent of surveyed organisations highlighted the shortage of skilled professionals as a significant concern, in another study conducted by DSCI, 47 per cent of participants reported that cybersecurity professionals make up less than 5 per cent of the total workforce.

On the sectoral front, the Banking, Financial Services and Insurance (BFSI) and IT/Information Technology Enabled Services (ITeS) sectors were reported as the leading spenders on cybersecurity in India, in the study.