More than half of respondents admitted they lack sufficient data to accurately assess their organisation’s IT spending.

Half of respondents said their organisation will divert capital allocations from other budget areas to fund AI initiatives.

71% of UK organisations feel their current cybersecurity budgets are adequate for ensuring cyber safety.

29% of CISOs say they receive adequate budget to accomplish their goals, compared to 41% of board members who think the function has enough funds.

Despite the increase in budgets and the perception of adequate resources, nearly half of UK cybersecurity leaders, 47%, struggle to engage at the board level.

Only 36% of respondents said their organisation has a dedicated AI fund.

UK organisations are significantly increasing their cybersecurity budgets, with an average predicted rise of 31% in the next 12 months. This is more than double the 15% that Gartner had forecast.