Most cyber security leaders worldwide see AI as a risk, as well as a potential solution, according to research from Hays.

The research showed 89% of cyber security leaders are concerned about the potential risks of AI threats. This compares with 89% who believe that AI will prove useful in improving security capabilities.

At the same time, organisations are split on whether AI can effectively replace cyber security talent, as 44% don’t believe AI will impact headcount. While over half of respondents (57%) stated they will have trained their cyber security workforce to use AI tools within the next year. 

Meanwhile, more than half of respondents (61%) are struggling to attract the right talent, which is due to the shortage of available skilled workers in today’s talent pool. Over half (61%) of those who stated they are struggling to attract and retain talent, said that a lack of skilled candidates is a major factor.

As demand continues to outstrip supply, cyber security professionals can command salaries which many employers cannot meet, according to Hays.

In 2023 44% of employers froze salaries for existing or new members of their security workforce, while just 17% of respondents were able to offer a pay rise above 10%. In response to these challenges, employers are looking beyond salary increases to attract cyber talent. Remote and hybrid working opportunities, as well as greater flexibility, are becoming increasingly important.

Further research showed 62% of respondents think their employer doesn’t currently have an in-house talent development programme to grow their cyber security workforce. The report also found that 73% of organisations invest 5% or less of their cyber security budget into talent development.

When it comes to headcount, over half of respondents reported their cyber security teams grew in 2023, however, investment in headcount remains to be a main area of concern for cyber security leaders.

The report also found that the majority cyber security leaders are more concerned about their budgets than 12 months ago, 72% in 2024, up from 68% last year. This is despite 54% of this year’s respondents expecting an increase in their spending allocation, which is up from 46% in 2023.

James Milligan, Global Head of Technology Solutions at Hays, said, “The report highlights that while there are plenty of consumers of talent, there are not enough creators. A pipeline of cyber security talent needs to be developed to solve tomorrow’s challenges. Organisations need to develop training strategies to ensure sustainable success and consider non-traditional cyber talent, such as individuals without formal education or experience. Employers also cited training opportunities as one of the best measures to attract talent and retain staff, alongside offering flexibility and remote working opportunities. These need to be taken into consideration when devising attraction and retention strategies.”