Citalid Named in Gartner’s Hype Cycle for Cyber Risk Quantification for the 2nd Year Running
Citalid secures consecutive recognition in Gartner’s Hype Cycle for Cyber Risk Management in the Cyber Risk Quantification category. This confirms Citalid’s leading position as a major player in the cyber risk quantification market. While considered as an emerging technology, Cyber Risk Quantification is a core pillar of Cyber Risk Management which is a business-urging topic for CISOs and organization’s leadership teams. Here is why.
According to the Gartner Hype Cycle, quantifying cyber risk helps security leaders:
- Better justify security investments and choose the most appropriate cyber security solution
- Compare and prioritise risks and achieve a better balance between risks and opportunities
- Support a common cyber risk management framework (in particular by prioritising risks, facilitating communication between risk managers and senior executives and aligning cyber risk with other risks). “
Gartner Hype Cycle: showcasing a solution’s acceptance cycle for emerging technologies
The Gartner Hype Cycle is a tool developed by the research and consulting firm Gartner, which helps organisations understand, evolve and adopt emerging technologies and practices.
The Hype Cycle has five main phases:
- Technology Trigger: A new technology emerges, attracting media interest and early adopters. However, there are few usable products and the technology may not yet be proven.
- Peak of Inflated Expectations: Excessive publicity and initial successes lead to high expectations. Some projects succeed, but many also fail.
- Trough of Disillusionment: Interest wanes as implementations fail to meet expectations. Technologies fail to spread as quickly as expected.
- Slope of Enlightenment: The real benefits of technology are beginning to be understood more realistically. Companies are experimenting and learning from early failures.
- Plateau of Productivity: The technology is becoming more stable and accepted. The benefits are widely demonstrated and the technology is becoming more commonplace and productively used.
The Gartner Hype Cycle sets Cyber Risk Quantification as an emerging technology or practice, despite an estimated market penetration of between 5% and 10% of the target audience.
Cyber Risk Quantification is the key to position cyber at a business level
The 2024 edition of Hype Cycle looks at the main benefits that a cyber risk quantification solution can bring to businesses. And there are many of them!
Gartner’s experts highlight an improvement in trust between risk management teams and senior leadership. This trust stems from the ability to quantify cyber risk in non-technical terms, facilitating clearer discussions and linking cybersecurity investments to business outcomes.
Quantifying cyber risk also supports objective decision-making for security investments by providing defensible data. This data can be integrated into a corporate repository and compared with other organizational risks. According to Gartner, it offers a reliable complement to qualitative assessments, helping prioritize strategic initiatives.
It also aligns cyber risk with other operational risks. By being integrated into a broader risk management strategy, cyber risk quantification ensures consistent risk mitigation and strengthens the overall resilience of the business.
The application of cyber risk quantification facilitates risk assessments, ensuring compliance with regulatory standards and demonstrating a robust approach to cyber security.
Citalid, a sophisticated solution for managing cyber risk
“We are pleased to be featured in Gartner Hype Cycle for Cyber Risk management for the second year in a row. While 2023’s report stated that communication was one of the main driver to implement a CRQ solution, we saw this trend confirmed over the past few months with growing demand from our clients on that front.” says Maxime Cartan, Citalid Co-founder & CEO “In its 2024 edition, Gartner recognizes the impact of AI in Cyber Risk Management. We can’t agree more as AI is the fundamental fuel to run advanced calculations and predict trends when it comes to cyber risk.”.
Large companies are adopting cyber risk quantification to gain a better understanding of their exposure and facilitate decision-making in terms of cyber security. Drawing on the experience it has acquired with over 100 clients, Citalid is the European leader in cyber risk quantification.
Citalid combines cyber risk quantification with Cyber Threat Intelligence (CTI), integrating data from over 5,000 security incidents and monitoring more than 700 cyber threat actors in real time. This enriched platform, built on proprietary and patented mathematical models, offers reliable and accurate results by blending AI technology with expertise from cyber risk professionals, actuaries, and insurers. Additionally, Citalid provides dedicated support to help clients fully leverage the platform, offering tailored guidance for specific use cases.
Every Friday at noon, join our live demo hosted by a CRQ expert. Ask your questions and watch Citalid in action. Register now here.
Disclaimer: Gartner, Hype Cycle, and any related marks are trademarks of Gartner, Inc. and/or its affiliates. All rights reserved. The inclusion of Citalid in any Gartner report does not represent an endorsement by Gartner of Citalid’s products or services. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact.
