Accenture Research Report: Cybersecurity Top Focus of Upstream Oil and Gas Companies’ Digital Investments

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The report ‘Accenture’s Upstream Oil and Gas Digital Trends Survey 2019’ has revealed that cybersecurity is the digital solution that’s driving the greatest impact in terms of business performance.

As oil and gas companies seek to protect their assets and reputations within an ever-evolving cyber threat landscape, over 60% of respondents cited cybersecurity as their key digital investment priority; five times higher than the 12% who made the same claim in 2017.

Other key information:

  • 16% of respondents cited cybersecurity as driving the greatest impact in terms of business performance, up from 9% in 2017.
  • Only 5% of respondents see increased vulnerability to cyberattacks as the biggest risk, down from 18% who made this claim in 2017.
  • 35% of respondents plan to invest in cybersecurity over the next three to five years.
  • Cloud technologies was identified as the second-biggest focus for digital investment, cited by 53% of companies.
  • The percentage of respondents who cited artificial intelligence (AI) as driving the greatest business performance impact more than doubled from 2017, from 4% to 9%.

The research, which was based on a global survey of 255 industry professionals, including C-suite executives, functional leaders and engineers, also revealed that upstream companies are finding it hard to scale digital initiatives to unlock value due to significant barriers within the business.

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