The Sierra Ventures CXO Advisory Board surveyed 70 CXOs to reveal what security leaders were focusing on for 2023. The survey asked questions regarding staffing, budget and technology investments.

Security leaders delivered mixed results regarding their 2023 technology budget. Almost 39% said their businesses slightly increased their budget, while 22.2% said their budget decreased slightly for the year. Approximately 30% reported that their budget wouldn’t change for the year. Less than 10% reported a significant increase or decrease in budget.

The majority of security leaders (90.4%) reported that they would be investing in automation to reduce headcount. However, 77.8% reported that their headcount would either increase or remain the same. Automation is being increasingly used among security leaders to streamline cybersecurity practices.

The survey also looked into what technologies security leaders are investing in. Twenty-eight percent said they would invest in Generative AI, 44.1% are investing in Web3, 45.7% said they were investing in alternate reality (AR) or virtual reality (VR) technology and/or the metaverse and 8.6% said they were investing in quantum computing.

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