Cyber security service providers investing in new technologies to predict, prevent attacks

With cyber threats rising rapidly, security service providers see an increase in demand for their products, prompting them to invest in latest technologies such as machine learning to predict and prevent attacks. Paladion Networks, a B2B cyber security service provider for the banking sector, saw a 30 per cent increase in business in the last two years. Shree Parthasarathy, Partner, Deloitte, said large enterprises are now investing almost 10-15 per cent of their IT spend in cyber security. The user base of Chennai-based K7 Computing Pvt Ltd, anti-virus software and internet security solution, increased rapidly over years. For instance, the company had 800 active users in 2010, but it now has 5,000 daily users.