Fed IT Security Spending to Jump 20%

Federal agency spending on IT security will grow by 20 percent over the next five years, according to a report issued by government analyst INPUT. The growth rate will take IT security spending from $6.1 billion this year to $7.3 billion in 2010.

”Over the past few years we have seen a rise in crippling network viruses and federal agencies are realizing their current systems are not enough to fend off attacks and breaches,” Chris Campbell, a senior analyst at INPUT, said in a statement.

The most recent Federal Information Security Modernization Act (FISMA) report to Congress shows that federal agencies have made ”moderate headway” in reviewing information systems and implementing security plans.

Last year, 76 percent of federal IT systems reported having an up-to-date security plan, a 12 percent increase over the previous year. Nevertheless, federal agencies are still far off the 90 percent goal set by the Office of Management and Budget (OMB).

”Federal agencies are feeling the pressure from OMB to get their systems certified and accredited by the end of the year, which accounts for the majority of the spending increase. Without a detailed security plan, agencies will have little chance of receiving program funding,” Campbell said.

During the current growth stage, he added, IT security vendors need to look for partnership opportunities.

”As a part of its cost-saving efforts, OMB has added IT security as a sixth line of business. Although the effects of this effort will not be seen for many years, we will likely see federal agencies consolidate programs in an effort to reduce redundant systems,” he said. ”Therefore, teaming partnerships will become even more important to security vendors in the long term.”

This article was first published on internetnews.com.

RELATED NEWS AND ANALYSIS

• Huawei’s AI Update: Things Are Moving Faster Than We Think

  FEATURE |  By Rob Enderle,
  December 04, 2020

• Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era

  ARTIFICIAL INTELLIGENCE |  By Guest Author,
  November 18, 2020

• Key Trends in Chatbots and RPA

  FEATURE |  By Guest Author,
  November 10, 2020

• Top 10 AIOps Companies

  FEATURE |  By Samuel Greengard,
  November 05, 2020

• What is Text Analysis?

  ARTIFICIAL INTELLIGENCE |  By Guest Author,
  November 02, 2020

• How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI

  ARTIFICIAL INTELLIGENCE |  By Rob Enderle,
  October 29, 2020

• Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics

  ARTIFICIAL INTELLIGENCE |  By Rob Enderle,
  October 23, 2020

• The Super Moderator, or How IBM Project Debater Could Save Social Media

  FEATURE |  By Rob Enderle,
  October 16, 2020

• Top 10 Chatbot Platforms

  FEATURE |  By Cynthia Harvey,
  October 07, 2020

• Finding a Career Path in AI

  ARTIFICIAL INTELLIGENCE |  By Guest Author,
  October 05, 2020

• CIOs Discuss the Promise of AI and Data Science

  FEATURE |  By Guest Author,
  September 25, 2020

• Microsoft Is Building An AI Product That Could Predict The Future

  FEATURE |  By Rob Enderle,
  September 25, 2020

• Top 10 Machine Learning Companies 2020

  FEATURE |  By Cynthia Harvey,
  September 22, 2020

• NVIDIA and ARM: Massively Changing The AI Landscape

  ARTIFICIAL INTELLIGENCE |  By Rob Enderle,
  September 18, 2020

• Continuous Intelligence: Expert Discussion [Video and Podcast]

  ARTIFICIAL INTELLIGENCE |  By James Maguire,
  September 14, 2020

• Artificial Intelligence: Governance and Ethics [Video]

  ARTIFICIAL INTELLIGENCE |  By James Maguire,
  September 13, 2020

• IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI

  FEATURE |  By Rob Enderle,
  September 11, 2020

• Artificial Intelligence: Perception vs. Reality

  FEATURE |  By James Maguire,
  September 09, 2020

• Anticipating The Coming Wave Of AI Enhanced PCs

  FEATURE |  By Rob Enderle,
  September 05, 2020

• The Critical Nature Of IBM’s NLP (Natural Language Processing) Effort

  ARTIFICIAL INTELLIGENCE |  By Rob Enderle,
  August 14, 2020