The majority of C-level executives and security specialists at Australian managed service providers (MSPs) and managed security service providers (MSSPs) expect their business to grow significantly over the next 12 months due to growing interest in artificial intelligence (AI). This finding is based on the latest findings of OpenText Cybersecurity's Managed Security Survey.
The survey, which involved more than 1,500 respondents, showed that 92.5% of Australian respondents believe investment in AI and offering AI security services will be the primary driver of business growth over the next 12 months. Specifically, 85% of these executives expect AI to drive 11% of their business growth over the next year. This correlation between AI and business growth highlights the increasing reliance on innovative technology to combat evolving cyber threats.
AI's role in business growth is further evidenced by the increasing demand for AI security tools and expertise. More than three-quarters (88%) of Australian MSPs/MSSPs surveyed said interest in AI-driven security solutions has increased their business. Relatedly, 36% of respondents admitted that integrating AI into their security framework is the most challenging task they are currently working on for their customers.
The survey revealed that customer priorities are shifting. Last year there was a strong focus on contract flexibility, but in 2024, security expertise and response times, particularly in the Australian security and AI space, are considered to be most important. Demand for comprehensive security solutions has surged by more than 50% this year. Additionally, an increasing preference for single-vendor security solutions was noted, with 36.5% of customers now preferring this approach, a 90% increase from 2023.
Commenting on the survey results, Prentiss Donohue, Executive Vice President, Cybersecurity, OpenText, said: “As interest in AI technologies grows, it is important not to overlook the fundamental need for composable security that can adapt to changing security needs. MSPs and MSSPs play a critical role in protecting their customers' sensitive data. As cyber threats grow, our partners are prioritizing security and integrating AI-powered threat intelligence services into their offerings, allowing our end customers to reap the benefits of AI technologies without compromising security.”
Beyond these insights, the survey also pointed to several tangible AI-related security benefits that customers are embracing. Enhanced threat hunting, which helps identify vulnerabilities more easily, was the most commonly cited benefit of incorporating generative and other forms of AI into security programs. Given the new and complex landscape of cybersecurity threats, these tools are proving invaluable to businesses looking to maintain a robust defense.
The survey methodology incorporated input from managers, C-level executives and security professionals across the United States, Canada, the United Kingdom, France, Germany and Australia. Respondents represented a range of organization sizes, from small businesses with 50 employees to large enterprises with over 5,000 employees.
OpenText Cybersecurity continues to advocate for the transformative potential of AI in the security sector. As AI technologies become increasingly integrated into security operations, organizations are expected to see increased efficiency in threat detection and response mechanisms. Taken together, the survey findings highlight a clear trend to rethink traditional cybersecurity strategies to adopt AI-enhanced solutions, providing both opportunities and challenges for MSPs and MSSPs going forward.
