Cyber-security overtakes AI as top investment priority for law firms
A survey of the UK’s largest law firms, conducted by HSBC UK in partnership with The Lawyermagazine, suggests that investment in cyber-security is topping their list of tech investment priorities after 70 per cent admitted experiencing a cyber-attack.
More than four-out-of-five (84 per cent) firms cite cyber-security as their main technology focus over the next three years. A quarter of firms have reported a cyber-attack within the last two years alone.
The second annual report by HSBC UK shows cyber-security overtaking Artificial Intelligence (AI) as law firms’ number one investment focus, pushing AI investment into third place. This is despite plans to invest in AI rising from 65 per cent to 68 per cent since last year.
Simon Adcock, HSBC UK’s Head of Professional Services, said: “With such a high proportion of firms exposed to cyber-attacks, it’s not surprising that improving cyber-security is of such importance. The frequency and sophistication of attacks is continuing to rise and recent high-profile incidents have only served to underline this, demonstrating the potentially catastrophic impact that a breach can have on a law firm.”
The findings also suggest that investment in new and innovative technology, such as AI and automation, is about to peak. According to HSBC UK, the most plausible reason for this is that many firms have already purchased and implemented the systems they need and are now working on maximising the capability of those systems and assessing the return on their investment.
As such, firms are anticipating a shift in their spending over the next three years, with the majority (60 per cent) of their tech investment going on ‘business as usual’ (BAU) requirements, such as Practice Management Systems and Customer Relationship Management tools, rather than focusing solely on innovative and emerging tech.
Simon Adcock continued: “It’s seemed like every major law firm has been rushing to invest in AI and machine learning over the last few years to bring benefits to clients and stay ahead of the competition. While this will continue, our research points to a slight change of direction on the horizon to BAU requirements while they digest and evaluate the returns that these new platforms are delivering.”
Source londonlovesbusiness
Industry: Cyber Security News
Latest Jobs
-
- IAM Product/ Project Manager
- Belgium
- Upto €80,000 plus benefits
-
IAM product/project manager is need for this expanding service provider to help develop their IAM (CIAM) strategy roadmap. This role will have two main functions, to work between the front end digital team and the backend IAM development team to ensure that the current deployment of the solution runs smoothly and is fit for purpose, the Second function is to look at the business’ future digital offerings and to understand how the IAM/CIAM solution will develop with the new digital strategy, you will be looking at the future technology and the ensuring the IAM solution is fit for purpose. The business is an agile environment and you will require agile experience. This is a great opportunity to help shape a key product within the future digital strategy of this expanding service provider. We are looking for someone with both IAM and strong product management experience Project management experience would be beneficial. If you are interested speak to Robert Anderton on 0044 (0) 7957 493501 and he will be able to discuss the role in more details IAM product/project manager is needed for this expanding service provider to help develop their IAM (CIAM) strategy roadmap. This role will have two main functions, to work between the front end digital team and the backend IAM development team to ensure that the current deployment of the solution runs smoothly and is fit for purpose, the second function is to look at the business’ future digital offerings and to understand how the IAM/CIAM solution will develop with the new digital strategy, you will be looking at the future technology and the ensuring the IAM solution is fit for purpose. The business is an agile environment and you will require agile experience. This is a great opportunity to help shape a key product within the future digital strategy of this expanding service provider. We are looking for someone with both IAM and strong product management experience Project management experience would be beneficial. If you are interested then speak to Robert Anderton on 0044 (0) 7957 493501 and he will be able to discuss the role in more details
-
- Cyber Incident Manager, Proactive planning and management. SC
- London
- N/A
-
Cyber Incident Manager, Proactive planning and management. Cyber incident Manager needed to join a large and complex business to help them prepare for a cyber related incidents. SC clearance will be required. Current or the ability to achieve. This role does not require specific current hands on technical Incident response experience, but this background would give a distinct advantage. The role has two key functions: to help the business prepare for an event and to steer them through when / if that happens. The Cyber Incident response managers role will include, but not be limited to; working with internal stakeholders to develop a security incident management plan along with its and supporting policies. Developing plans and implementing strategies on how incidents are detected, reported, assessed and responded to. Engaging with leadership teams both internal and external, proactively mapping out this large business to identify and engage the various other stakeholders and their teams. Build out and document incident scenarios and their processes, ensure incident management procedures are updated, playbooks and key training etc. You should have experience working with both internal teams and external suppliers. The role will also focus on liaising with the various teams to ensure the security incident response plan is delivered effectively. CCIM, GCIH, CIPR (NCSC-Certified Cyber Incident Planning & Response) Looking to interview immediately.
-
- SOC Manager. SC Clearance. Immediate opportunity.
- Unknown
- N/A
-
Permanent SOC Manager. SC cleared / clearable, London / Birmingham. SOC Manager needed to replace a SOC contractor I placed into a client who is due to complete their assignment at the end of March. The ability to achieve SC clearance is essential. Looking for someone that is a blend of strategic stakeholder engagement with strong technical skills. The role will sit in a relatively new SOC environment. The position is to setup, implementation and management of resources to help with the initial and on-going stages of a new SOC. Experience engaging with and managing client stakeholder relationships as well as 3rd party relationships is critical. The role will involve; setting up, implementing and fine tuning the various initial stages of a SOC environment. Experience establishing and building out technical process / operational capability, managing of technical teams (analysts, engineers and architects, creation of policy / playbooks, fine turning is key. SPLUNK is the tooling of choice… Interviewing immediately. Set up a call with me today on https://calendly.com/chris-holt/arranged-call-with-chris-holt-soc-manager-role Direct contact details Chris.Holt@dclsearch.com or 07884666351
-
- Security engineer. Financial Services. UK. Permanent
- Unknown
- N/A
-
CH7863 Security engineer. End User . Financial Services Security Engineer needed to monitor and manage a security suite of tools within an End User environment. The Security Engiener will be responsible monitoring, configuring, fine tuning, incident management and generally improving the security tool capability. Specific experience with CyberArk, Tripwire Log Center and Tripwire Enterprise is highly desirable). Current experience with Vulnerability management and penetration testing is highly desirable. Specifically the ability to effectively manage 3rd party pen tests. You will be working within a specialist security team reporting to the CISO. Experience working within an end user environment within financial services is highly desirable. Flexible location. This is an exclusive role to DCL Search & Selection. To book a call please use my Calendy link https://calendly.com/chris-holt/arranged-call-with-chris-holt-soc-role-