CHKP Check Point Software Technologies Inc

Check Point Software Technologies Ltd. (NASDAQ: CHKP), a leading AI-powered, cloud-delivered cyber security platform provider, today unveiled its 2024 Cloud Security Report. The report exposes a critical surge in cloud security incidents, marking a significant increase from 24% in 2023 to 61% in 2024, highlighting the escalating complexity and frequency of cloud threats.

The latest survey from Check Point reveals a concerning trend: while most organizations continue to prioritize threat detection and monitoring, focusing on known vulnerabilities and patterns of malicious behavior, only a mere 21% emphasize prevention. This is particularly alarming as companies struggle to keep pace with rapid technological advancements, including the speed of DevOps and the deployment of new codes and applications in the cloud.

The survey underscores a daunting reality— although cloud attacks are on the rise, only 4% of organizations disclosed that they are able to mitigate risks easily and quickly. An overwhelming 96% have expressed concern about their ability to handle such risks. In addition, 91% of respondents are alarmed by the surge in more sophisticated cyber threats, including unknown risks and zero-day attacks, which cannot be detected using conventional security tools.

“The data speaks volumes about the urgent need for organizations to shift their focus towards implementing AI-powered threat prevention measures,” states Itai Greenberg, Chief Strategy Officer at Check Point Software Technologies. “By adopting a consolidated security architecture and enhancing collaborative security operations, businesses can preemptively tackle emerging threats, ensuring a more secure and resilient cloud environment.”

Other insights from the 2024 Cloud Security Report:

• Escalation of Cloud Incidents: There has been a near 40% increase in cloud security incidents compared to last year, with 61% of organizations reporting significant disruptions.
• Deep Concerns Over Risk Management: An overwhelming 96% of respondents reported concerns about their ability to effectively manage cloud risks, reflecting a considerable escalation from previous years.
• Rapid Adoption of AI Technologies: With 91% of organizations now prioritizing AI to enhance their security posture, the focus has shifted towards leveraging AI for proactive threat prevention.
• CNAPP for Enhanced Prevention: Despite the growing threat landscape, only 25% of organizations have fully implemented Cloud Native Application Protection Platforms (CNAPP). This underscores the urgent need for comprehensive solutions that go beyond traditional tooling.
• Complexity in Cloud Security Integration: Despite potential for streamlined solutions, 54% of respondents face challenges in maintaining consistent regulatory standards across multi-cloud environments. Additionally, 49% struggle with integrating cloud services into legacy systems, often complicated by limited IT resources.

The report advises organizations to embrace a more comprehensive, collaborative, and AI-driven cybersecurity framework. Check Point CloudGuard offers actionable security and smarter prevention, effectively strengthening the overall security posture. CloudGuard is part of the Check Point Infinity Platform, which allows organizations to centralize and automate security processes, compliance, and rule sets, thereby enhancing visibility and control over cloud environments. Access the full report and gain comprehensive insights into cloud security trends by visiting: https://engage.checkpoint.com/2024-cloud-security-report.

About the Survey:The 2024 Cloud Security Report, conducted by Cybersecurity Insiders in April 2024, surveyed 813 cybersecurity experts spanning North America, Europe, Asia-Pacific, and beyond. Participants included a diverse group of executives, IT security professionals, and staff from a wide range of industries and business sizes. The study conducted an in-depth analysis of how organizations that use cloud services are tackling security obstacles and prioritizing advancements, like AI, in this critical area.

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About Check Point Software Technologies Ltd.  Check Point Software Technologies Ltd. (www.checkpoint.com) is a leading AI-powered, cloud-delivered cyber security platform provider protecting over 100,000 organizations worldwide. Check Point leverages the power of AI everywhere to enhance cyber security efficiency and accuracy through its Infinity Platform, with industry-leading catch rates enabling proactive threat anticipation and smarter, faster response times. The comprehensive platform includes cloud-delivered technologies consisting of Check Point Harmony to secure the workspace, Check Point CloudGuard to secure the cloud, Check Point Quantum to secure the network, and Check Point Infinity Core Services for collaborative security operations and services.

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