Saviynt’s 2024 Trend Report Predicts Regulations, AI Will Push Cyber Risk To Top Priority for Identity Security

LOS ANGELES – Saviynt, a leading provider of cloud-native identity and governance platform solutions, announced today that corporate boards likely will be impacted by regulatory shifts and artificial intelligence (AI), according to industry thought-leaders interviewed on technology trends, people strategies, and forthcoming innovations for the company’s 2024 Trend Report. 

The report predicts that the new SEC mandate will require corporate boards to prioritize cyber risk management. The mandate, driven by a need for transparency and investor protection, will require that significant cybersecurity incidents be reported to the SEC within four days of being deemed material. 

“This will raise the stakes on evaluations and digital defenses, potentially spurring a wave of digital modernization,” according to Paul Zolfaghari, President of Saviynt. “Companies need to be able to quickly diagnose what any malicious actor had access to, what they did with that access, and whether it was material,” he said, requiring strong identity-centric controls to prevent, detect, respond, and recover.

Saviynt is also predicting the emergence of AI for efficient lifecycle automation and behavioral profiling. This will precipitate the enforcement of least privilege principles without compromising on user experience or security effectiveness.

“As the technology matures, longstanding skepticism around AI in security is dissipating,” said Saviynt’s Chief Product Officer Vibhuti Sinha. “This is a critical moment for AI adoption, with the potential to halve governance costs and scale solutions in response to burgeoning machine identities.”

In the report,  Michael Davis of Ernst and Young LLP, noted that companies who take advantage of resource optimization will be able to redirect limited resources toward broadening control coverage, freeing up management time, and enforcing more effective security protocols.

“Artificial Intelligence is no longer a luxury but a necessity for mature cyber risk programs,” said Jim Routh, Chief Trust Officer, Saviynt. AI’s potential to reduce governance costs is driving it as a core component of effective identity security strategies. “AI and machine learning are at the heart of an advanced era of identity security,”

Alongside these issues, the report also discusses other emerging trends in identity security. These include the rise of enterprises exploring FedRAMP authorization, potential competitive advantages stemming from runtime authorization, the impact of “your vendor’s vendors” on supply chain security, and tactics for battling growing instances of CISO burnout.  

About Saviynt

Saviynt, a leading provider of cloud-native identity and governance platform solutions, is the largest SaaS platform for Identity Governance and Administration (IGA). Saviynt’s fully converged EIC platform manages and governs workforce, suppliers, vendors, service accounts, privileged accounts, and critical applications. The EIC platform reduces gaps in identity-based security coverage while also improving organizations’ overall enterprise risk posture and meeting critical compliance requirements.