No matter where they stand in the development of artificial intelligence or Internet of Things technology projects, cybersecurity is at the top of the investment list for many businesses.
A global survey conducted by IoT World Today and AI Business of more than 200 small- and medium-sized businesses found cybersecurity to be the primary planned investment area over the next 12 months.
Of all businesses surveyed, 43% said they would be channeling the majority of their money into cybersecurity.
This figure remained relatively steady for both small- and medium-sized businesses. For small businesses (less than $50 million a year), 42% said they would be investing in cybersecurity, while nearly half (47%) of medium-sized enterprises ($50 million to $1 billion) would be investing in it.
This figure remained relatively consistent regardless of the stage of development: Businesses developing, piloting or running a project all reported similar figures, with more than a third planning to invest in cybersecurity.
However, for businesses planning to scale their IoT or AI projects, this rose dramatically, with 75% saying they would be investing in cybersecurity over the next year.
Geographically, cybersecurity was the leading area for investment in North America by a significant margin, with more than half (56%) saying it was a key investment area.
This figure is nearly double that of businesses in Europe, with 29% of enterprises there planning to invest in cybersecurity.
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