16 Mar 2024, Pune: Tech Saga 2024, one of the largest congregations of top technology leaders in the country hosted by CIO Klub Pune Chapter, commenced here in Pune today. The summit promises to be a unique platform for CIOs, IT leaders and technology visionaries to come together and chart future pathways for the tech industry in the country. 

The summit opened with a soulful musical treat followed by an auspicious lamp lighting session and Ganesh vandana performance.

With over 160 technology leaders in attendance, the summit had Vice Admiral Raman Puri, PVSM, AVSM, VSM, as its Chief of Honour. Mr. Puri, in his comprehensive speech, emphasized the importance of leadership that stands steady under pressure and why strategic security and self-reliance are critical. 

Anis Pankhania, President, CIO Klub Pune Chapter and Sr. Director & CISO, Capgemini, shared the chapter’s vision and summarized its work in the past year. Umesh Mehta, President, General Body, CIO Klub, gave the audience a rundown of the association’s programs, initiatives and engagements. 

Ashok Jade, Global CIO of Kirlosker Brothers, member of the managing committee of CIO Klub Pune Chpater said, “The ‘K’ in CIO Klub signifies knowledge. We, at CIO Klub, firmly believe that fostering knowledge helps drive innovation within the whole ecosystem. The world of technology is perhaps evolving at breakneck speed today and it’s critical that we, as a community, create a conducive environment for ourselves to embrace change. We hope that Tech Saga 2024 becomes the go-to platform for the CIO community to confidently innovate and transform.” 

The event has an impressive line-up of speakers throughout the day who cover a wide range of topics to give the attendees some valuable takeaways. The summit also hosts Ajinkya Dhariya, Shark Tank fame & Founder/CEO at PadCare Labs. Another key highlight of the event is the fireside chat session between Anita Bhogle, Author & Partner, Prosearch Consultants and Sajith Chakkingal, Head of Global Technology, TMF Group. 

The CIO Klub is a not-for-profit organization dedicated to Chief Information Technology Officers, formed by CIOs and for CIOs, representing diverse industry verticals. With a democratically elected governing body and sixteen chapters worldwide, the CIO Klub is committed to knowledge enhancement, fostering collaboration, and organizing knowledge-sharing sessions. The Pune Chapter, with over 175 active members, continues to lead these initiatives. 

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A recent report from Mandiant Inc. provides new insight into how organizations navigate the increasingly complex threat landscape. The report is based on a global survey of 1,350 cyber security decision makers across 13 countries and 18 sectors – including financial services, healthcare and government. 

Operationalizing intelligence: an identified challenge

Despite the widespread belief that understanding the cyber threat actors who could be targeting their organization is important, 79% of respondents stated that their organizations make the majority of cyber security decisions without insights into the threat actor that is targeting them.

While the report found that nearly all respondents (96%) were satisfied with the quality of threat intelligence their organization is using, respondents declared effectively applying that intelligence throughout the security organization to be one of their greatest challenges (47%). Further, almost all (98%) of those surveyed said they need to be faster at implementing changes to their cyber security strategy based on available threat intelligence.

Underestimating the threat

According to the survey, 67% of cyber security decision makers believe senior leadership teams still underestimate the cyber threat posed to their organizations, while more than two-thirds (68%) agree their organization needs to improve its understanding of the threat landscape.

However, despite these concerns, security decision makers remain optimistic regarding the effectiveness of their cyber defenses. When asked about confidence in whether their organization is fully prepared to defend itself against different cyber security events, respondents felt most confident in tackling financially motivated threats, such as ransomware (91%), followed by those conducted by a hacktivist actor (89%) and nation-state actor (83%). When asked to rank which countries their organization would be unable to fully defend itself against, more than half of respondents (57%) said Russia, followed by China (53%), North Korea (52%) and Iran (44%).

Further, just over half of respondents (53%) felt they could prove to their senior leadership team that their organization has a highly effective cyber security program.

Other key findings:

• Cyber security is only discussed on average once every four or five weeks with various departments within organizations, including the board, members of the C-suite and other senior stakeholders. This cadence is even less frequent for groups such as investors, where the average lowers to once every seven weeks.
• Only 38% of security teams share threat intelligence with a wider group of employees for risk awareness.
• A majority (79%) of respondents relayed that their organization could focus more time and energy on identifying critical trends.

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