Category Archives: Business

FHRAI Organizes ‘Stakeholders’ Meet to Propel Tourism Development in Jammu & Kashmir

Saturday, 04th May 2024 – The Federation of Hotel and Restaurant Associations of India (FHRAI), the third largest hospitality association in the world, is organizing a “Stakeholders’ Meet to Propel Tourism Development in Jammu & Kashmir” today at 6:30 pm. The event will take place at the Mumtaz Banquet Hall, Radisson Collection Hotel & Spa, Riverfront, Srinagar. The purpose of this gathering is to explore the untapped tourism potential of Jammu & Kashmir and address infrastructure-related concerns, aiming to establish the region as a top tourist destination in India.

The objective of the Stakeholders’ Meet is to create a networking platform for FHRAI leaders from across the country and stakeholders in the hospitality and tourism sector in Jammu & Kashmir. This event is an opportunity to showcase the region’s tourism potential, discuss investment opportunities, and lay the groundwork for future collaborations. It will help elevate the visibility of tourism leadership in Jammu & Kashmir.

Attendees at the event include key stakeholders from the hospitality and tourism sectors in Jammu & Kashmir, government officials, tourism experts, and potential investors.

Pradeep Shetty, President of FHRAI, emphasized the importance of the event, stating, “We are eagerly looking forward to this event, which serves as a crucial platform to unlock the tourism potential of Jammu & Kashmir. By bringing together industry leaders and stakeholders, we anticipate fruitful discussions on infrastructure enhancement, investment opportunities, and strategic collaborations.”

He added, “This event aligns with our vision to promote Jammu & Kashmir as a premier tourism destination in India, and we expect positive outcomes that will pave the way for sustainable growth and development in the Union Territory.”

FHRAI’s “Stakeholders’ Meet to Propel Tourism Development in Jammu & Kashmir” aims to foster collaboration, encourage investment, and highlight the tourism potential of the region, ultimately steering Jammu & Kashmir toward becoming a top tourist destination in India

Chowkhat Unveils Exciting Summer Collection Featuring Authentic Handmade Designs

Noida, 04th May, 2024: Chowkhat, India’s leading affordable authentic handmade brand, is thrilled to announce the launch of its captivating Summer Collection. This collection is a celebration of summer-friendly fabrics and exquisite handcrafted designs, embodying the essence of traditional Indian craftsmanship.

The Summer Collection introduces a range of fabrics including mul cotton, modal, rayon, and muslin, meticulously chosen to offer both comfort and style in the warm months ahead. Each piece is crafted with care, ensuring a blend of quality, affordability, and unique artistry that Chowkhat is known for.

Highlights of the collection include:

● Mul cotton pieces adorned with refreshing prints, perfect for a summer vibe.

● Chikankari creations showcasing the timeless elegance of hand embroidery.

● Kurtis featuring Jaipur handprints and hand block designs, ideal for daily wear.

● Summer dresses in vibrant Jaipur prints, adding a splash of colour to any wardrobe.

“We believe in creating clothing that not only looks good but also tells a story. Each piece in our collection is a labour of love, showcasing the skill and dedication of our talented artisans. We have carefully curated a selection of fabrics and designs that embody the spirit of summer while honouring the rich heritage of Indian craftsmanship. It’s not just about creating garments; it’s about preserving a legacy and celebrating the artistry that makes each piece unique,” said Anuja Gupta, Founder and CEO of Chowkhat.

The pricing for the Summer Collection ranges from INR 1499 to INR 2699 for kurtis and dresses, making these handcrafted pieces accessible to a wide range of customers. Additionally, Chowkhat is introducing a new range of organza hand-painted sarees priced from INR 3999 to INR 4999, perfect for those occasions where one wants to look extra special.

To celebrate the launch of the Summer Collection, Chowkhat is hosting a Summer Sale from 2nd May to 12th May. Customers can enjoy up to 50% off on select items and an extra 10% off with the code SUMMER. As an added bonus, all orders above INR 999 will receive complimentary handcrafted earrings worth INR 199.

Indulge in the Freshest Flavors: Celebrate National Salad Month with Mumbai’s Top Restaurants

In an age where health and wellness are becoming increasingly paramount, salads have emerged as the unsung heroes of our daily lives. Once relegated to the sidelines of meals, salads are now taking center stage, captivating taste buds and nourishing bodies like never before. From bustling city streets to suburban kitchens, the rise of salads is palpable, as people everywhere recognize the importance of incorporating fresh, nutrient-rich ingredients into their diets. Join us as we explore how salads are transforming the way we eat, energise, and thrive in our day-to-day lives.

If you are craving for something healthy and delicious, here are some of the handpicked restaurants that are a must-visit for every salad lover.

Amazonia:

Amazonia celebrates jungle summer safari with its refreshing delight Watermelon & Feta Terrarium. Along with this take a taste adventure with the Shrimp Encounter salad. This salad is designed to take you on a culinary journey and is a celebration of the sea’s bounty. It’s the perfect option for those who crave a timeless salad experience!

Bayroute,

First stop, Bayroute! Here, you can spice up your life with the Azerbaijan Circassian Chicken Dip. This ain’t your regular chicken salad! Succulent chicken gets marinated in exotic spices, slow-cooked, and shredded before being tangled with a creamy walnut sauce straight from Azerbaijan. Pomegranate pops add a burst of sweetness, while pine nuts bring a satisfying crunch.

The Pantry – Guilt-free Goodness

The Pantry – Guilt free Goodness has 3 delightful options to pick from. Indulge in the mouth-watering Avocado Salad, made with organic Katakana Avocado, Quinoa, Red Lentils, Fresh Pomegranate & Home homemade ricotta. Looking for some high-protein goodness? The Keto Cobb Salad, made with Mixed Greens, Grilled Chicken, Arthurs Bacon, Boiled Egg, Parmesan Cheese, and Italian Vinaigrette Dressing is sure to satisfy your cravings. And for those who want a nutrition boost, the Cottage Cheese Salad with Mixed Greens, Fresh Tomatoes, Sprouts, Candid Orange Rind, Homemade Granola & Pesto Toast is the perfect choice.

Si Nonna’s

Are u craving for some traditional Italian simplicity? Si Nonna’s got you covered. Fresh arugula, sliced plum tomatoes, pitted Greek Kalamata olives, aged parmesan cheese, freshly toasted sesame seeds with Modena balsamic vinegar and Evoo are all featured in their casareccia salad. It’s a great meal on its own or the ideal accompaniment to any Italian feast. If you enjoy cheese, you won’t want to miss their Contadina salad, which combines fresh arugula with buffalo mozzarella, luscious cherry tomatoes, toasted sesame seeds with Modena balsamic vinegar, EVOO and slow-cooked chicken.

Koa Cafe:

For a unique and refreshing option, head to Koa Cafe in Bandra West. Their Quinoa & Barley Salad combines the power of these super grains with mixed greens, onions, and a sweet maple dressing. It’s a healthy and flavorful option that’s sure to leave you feeling satisfied.

One8 Commune

One8 Commune has the perfect salad to unleash your inner superhero. A favourite of the Indian cricket legend Virat Kohli, their special Superfood Salad is packed with protein and nutrients. A mix of greens gets an upgrade with roasted pumpkin seeds, juicy cantaloupe and melon, and protein-rich amaranth seeds. It’s the perfect post-workout pick-me-up!

Sante Spa Cuisine

Sante Spa Cuisine in Bandra East offers The Vegan Green Buddha Bowl. This protein-rich bowl is overflowing with fresh goodness – zucchini, cucumber, spinach, avocado, peas, sprouts, and seeds. Dress it up with your favourite vegan sauce for a flavour fiesta.

Blue Bop Cafe

Finally, for a truly luxurious salad experience, Blue Bop Cafe offers the Pull Me Up Burrata Salad. Creamy burrata cheese takes centre stage, surrounded by grilled peppers, cherry tomatoes, zucchini, and arugula. A balsamic glaze drizzle ties it all together for a decadent and delicious salad.

So ditch the boring and embrace the grand! This World Salad Day, celebrate with a Mumbai-based salad adventure that explodes with international flavours!

Swiss Military cements ‘Make in India’ initiative

New Delhi, May 04, 2024: Swiss Military Consumer Goods Limited, the globally acclaimed lifestyle brand known for its premium and innovative products, today announced its plans to acquire property to establish the Company’s first fully owned manufacturing unit in India. This acquisition marks a pivotal step in Swiss Military’s strategic expansion, aligning with the ‘Make in India’ initiative. The acquired site is earmarked for a new manufacturing facility for luggage and travel gear, intended to cater to both domestic and international markets. This will enhance the Company’s capability to meet growing demand and expand its market footprint globally. The proposed facility shall be established through a wholly owned subsidiary – SM Travel Gear Private Limited.

The property involves land and building with an approximate area of 1.21 acres and a built-up area of about 85000 sq. feet. With a production capacity of 10 Lakh pieces per year. The targeted completion for the manufacturing unit would be within 8 months by 31st Dec 2024 at an initial investment of 56.50 Cr. This investment further emphasises Swiss Military’s commitment towards innovation and operational excellence for their products.

On the occasion, Anuj Sawhney, Managing Director, Swiss Military Consumer Goods Ltd, stated, “With domestic and international leisure and business travel having bounced back aggressively, we have seen very robust growth in the luggage and travel gear segment. This new venture by Swiss Military CGL is aligned to our future vision of expansion in India and abroad while being part of their ‘Make in India’ movement.”

“Our own manufacturing capabilities will help establish Swiss Military’s commitment to modernization within the travel gear sector in the Indian market and to shorten go-to-market timelines with new products. It will also significantly bolster our position in the competitive global travel gear market. We trust that this new facility will be a cornerstone in our journey towards sustained growth and leadership in the industry”, he added.

Swiss Military has been hyper focused on the Indian consumer base, seeking high-quality travel gear at accessible price points. By presenting qualitative products without compromising on affordability, Swiss Military is dedicated to elevate the travel experience for its customers and become their preferred travel companion for the Indian traveller.

Sunaina Jairath Joins Aliaxis India

Sunaina Jairath has joined Aliaxis India (Ashirvad) as Vice President – Brand and Communications continues to strengthen our brand presence and drive their strategic objectives forward.

With over 22 years of experience in Communication, Public Affairs, Policy advocacy and Impact Communication Sunaina brings a wealth of expertise to our team. In her new role, she will lead our Public Relations, Brand and Corporate Communication Strategy, overseeing media and stakeholder relations, social media management, and internal communications.

Her extensive experience and strategic vision will be invaluable as we grow leveraging ecosystem tailwinds.

ShipEase Extends Round, Welcomes JITO JIIF, COGNIPHY.US, MEITY Onboard

India, May 04, 2024: ShipEase, India’s most efficient logistics company has further raised undisclosed funds from JITO Angel Network Investment Arm of JITO Incubation and Innovation Foundation (JIIF), COGNIPHY.US and Ministry of Electronics and Information Technology (MEITY) . The funds raised will be utilized in expanding the team, improving the technology, developing new efficient products and brand building.

ShipEase is a SAAS based logistics provider helping D2C brands and SME e-tailers to make their supply chain efficient. The company offers the best-in-class automated shipping services and seamlessly ships to 28000+ pincodes with smart courier allocation.

ShipEase was founded by a trio of accomplished professionals. Pawan Kumar, the CEO, brings expertise from Xpressbees, Ecom Express, and Delhivery Ltd. Lalit Singh, the CRO, has worked at well reputed companies like FedEx, Delhivery, and Reliance Industries. Ajay K, MD & CTO comes with tech experience working with RBS, Iris Inc, and Aricent. Their collective experience in logistics, e-commerce, and technology drives Shipease’s mission to innovate the shipping industry.

Rajat Mehta, Chairman, JITO Incubation and Innovation Foundation(JIIF), said “Logistics play a pivotal role specially for D2C brands as managing supply chain is one of the biggest cost heads. For new and emerging brands, to build their own supply chain pan India, is a multi-crore commitment. However, ShipEase’s platform and their tech approach can help brands reach their customers faster while keeping logistics costs low.”

While timely and safe goods movement for high value products is a high priority for companies, what makes the shipments more secure is tech solution features including real time tracking, NDR Management,Returns Management,Consultative Dashboard, and others.

Pawan Kumar, Founder, ShipEase, said, “We would like to project ourselves as tech savvy organization for D2C community and offline brands right from managing the production, inventory control, supply chain followed by logistics. Supply chain contributes to approx 10% of overall costs & it plays a very vital role in success or failure of any business, with our in-depth expertise in the domain, we help sellers in building a sustainable business.”

ShipEase has successfully designed a technology-enabled logistics solution which provides end-to-end automation for varied delivery requirements. ShipEase with a domain expert founding team, cost-effective methods and robust technology positions the company as one of the most preferred partners for brands and SMEs.

ShipEase is serving to a wide seller base of 3 K clients with the business quantum of over a Million shipments per month. Also the company operates on a double digit positive EBITDA as per Feb’24 trends. The company has accomplished this exceptional growth with a very lean team size and in very short span of time.

The Supply Chain Management Market was valued at approximately US$ 26.8 billion in 2022. It is anticipated to achieve a valuation of around US$ 62.20 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2023 to 2030.

Best Agrolife Ltd to Introduce Patented Rice Herbicide Formulation Orisulam

Mumbai, 4th May 2024: – Best Agrolife Ltd (BAL), a leading manufacturer of specialty and patented agrochemicals in India, has announced the registration of two innovative formulations. Best Agrolife Ltd (BAL) group has been granted 9(3) Formulation Indigenous Manufacture (FIM) registration from CIB & RC for its patented formulation Bispyribac Sodium 0.25% + Penoxsulam 0.25% + Pyrazosulfuron Ethyl 0.20% GR. The three molecules of this combination belong to the ALS (acetolactate synthase) inhibitors herbicide group. The ALS inhibitors disrupt essential amino acid synthesis in weeds providing triple the effectiveness in control of weeds.

BAL will be introducing this formulation in the upcoming Kharif season under the brand name “Orisulam.” With an estimated annual business potential of approximately Rs 2000 crores in the rice herbicide segment, BAL anticipates “Orisulam” to be an important growth driver.

“Orisulam” is a broad-spectrum pre-emergence, early post-emergence and post-emergence contact and systemic herbicide for paddy. Its patented triple combination of three molecules ensures weed control of grasses, broad leaves, sedges. It offers a comprehensive strategy with a flexible window of application and the granular formulation has been specially designed for ease of application.

The Best Agrolife group also received 9(3) FIM vs FIT registration for Boscalid 25.2% + Pyraclostrobin 12.8% WG. This fungicidal combination is effective in specialty crops such as grapes for the control of downy mildew and powdery mildew diseases.

BAL has been making significant strides in its product portfolio. Earlier, the company received registration for its patented formulation “Defender”, a groundbreaking formulation for effective control of BPH in the crop health segment in paddy.

This year, the company has achieved several milestones including the registration of Fomesafen Technical 95%, patent for “Tricolor” formulation, patent for “Warden Extra” formulation, and the patent for “Shot Down” formulation.

Lexicon MILE HR Leadership Excellence Awards & Conclave 2024

Pune,May, 2024: Lexicon MILE, a renowned B School, hosted the ‘Lexicon MILE HR Leadership Excellence Awards & Conclave 2024’ to recognize and celebrate exemplary achievements in the HR domain. The event, brought together industry leaders, experts, and visionaries to honor outstanding professionals who have made significant contributions to the field of Human Resources.
The award ceremony recognized exceptional talent across various HR domains. Among the esteemed awardees were:

1. Talent Acquisition Professional of the Year Award:Ms. Jyoti Huria, Head – Talent Acquisition, Definitive Healthcare
2. HR Transformation Leadership Award: Mr. Abhijit Puri, Senior Director – Talent Acquisition, LTIMindtree
3. Human Resources Strategic Change Leader Award:Mr. Baliram Mutagekar, Vice President, BNY Mellon, and Mr. Aniruddha Khekale, Sr Vice President and CHRO, Adani Electricity Limited
4. Campus Recruitment Leadership Award:Mrs. Leonette Denis Henry, Global HR Director, Quloi
5. Recruitment Strategy Champion Leadership Award:Mr. Ashish Pattnaik, Global Talent Acquisition Head, Marlabs LLC
6. Talent Acquisition AI Adoption Leadership Award:Mr. Rahul Mitra, General Manager – Talent Acquisition, IGT Solutions
7. Learning Culture Ambassador Leadership Award:Mr. Sandeep Palodkar, Vice President and Group HR Head, Teamglobal Logistics
8. Strategic HR Leader of the Year Award:Mr. Kalyan Uttam Pawar, Executive Vice President – Corporate ER, Endurance Technologies Limited, and Mr. Saakar Anand, Vice President, BMC Software
9. Strategic Collaboration and Initiatives Leadership Award: Mr. Soumyakant Singh, Global Head – Human Resources, Pixis.ai
10. Innovative Learning Solutions Award:Mr. Varun Patil, Country Head, CESIM Business Simulations
11. Global Talent Acquisition Leader Award:Mr. Pratyush Nandkeolyar, Senior Director, Head of India and Europe, Brillio
12. Diversity and Inclusion Champion Leader Award:Ms. Renu Tandon, Executive Coach, Ex VP-HR, Markets and Markets
13. Talent Acquisition Mentor of the Year Award:Mr. Rajendra Raut, Head Talent Acquisition & Talent Management, Jade Global
14. HR Visionary Leadership Award:Ms. Pooja Bansal, Executive Vice President & CHRO, Piaggio India, and Ms. Gunjan Mishra, Head – Human Resources, RNF Technologies Private Limited
15. Global Executive Search Firm of the Year Award:Mr. Suraj Narain, Managing Director and Founder, SearchBourne Consulting Pvt Ltd
16. Sustainability in HR Leadership Award:Mr. Ranjit Kondeshan, Head – HR, Kinetic Green Energy and Power Solutions Ltd
17. Lifetime Achievement Award:Mr. Santosh Bhave, Director – Human Resources & Industrial Relations, Bharat Forge Ltd, and Mr. Gurmeet Singh, Ex Senior AreaDirector Human Resources -Marriott International, South Asia
18. Candidate Experience Leadership Champion Award:Ms. Shweta Parekh, Manager HRBP, CRG Solutions Pvt Ltd
The event also featured insightful panel discussions led by distinguished personalities, focusing on critical topics shaping the future of work and campus recruitment strategies. Industry veterans shared their expertise and perspectives on embracing technology, fostering innovation, and nurturing future leaders in the digital era.
Reflecting on the essence of the award ceremony and panel discussion, Mr. Nasir Shaikh, Group CEO, The Lexicon Group of Institutes, EduCrack, & EasyRecruit+ and Associate Editor – Pune Times Mirror & Civic Mirror, underscores the importance of recognizing excellence in the HR domain while navigating the digital era. He remarked, “As we honor outstanding professionals for their contributions, it becomes clear that HR is not merely a function but a vital service industry centered around people. Leaders must prioritize the well-being of their teams, fostering a culture of growth, inclusivity, and continuous learning. Leaders must remain approachable and dedicate resources to enhancing soft skills and communication abilities. We must commit ourselves to fostering a holistic environment conducive to 360-degree growth and remain steadfast in our commitment to being lifelong learners.”
In the first panel discussion, ‘The Future of Work: Adapting to a Digital Workforce,’ the esteemed Panelists and Moderator delved into the dynamic work landscape. The industry veterans in the panel discussion were:
Moderator:
Mr. Nasir Shaikh, Group CEO, The Lexicon Group of Institutes, EduCrack, & EasyRecruit+ and Associate Editor – Pune Times Mirror & Civic Mirror
Panelists:

• Mr. Ranjit Batra, President, Hospitality Management, Panchshil Realty,emphasized the pivotal role of technology in recruitment processes, advocating for the integration of AI to streamline candidate selection.
• Mr. Ajit Jagtap, Founder, Inaiways Technology Pvt Ltd,underscored the need for agility in recruitment and stressed the importance of speed and efficiency.
• Mr. Francis Padamadan, Managing Partner and Head of APAC, TritonExec X Hirewell,highlighted the importance of fostering a culture of recognition and tracking gender diversity within the recruitment industry.
• Ms. Ancy Nimsha Sreenivasan, Vice President – Human Resources, IntraEdge, and Director – Consultant People & Culture, BDV Solutions,discussed the imperative of digital transformation in HR, emphasizing the need for adaptability and thorough research.
• Mr. Sakaar Anand, India Head and Head of HR, BMC Software,delved into the evolving preferences of the current workforce, noting their desire for diverse work opportunities and the importance of continual skill upgrading.

In the second panel discussion, ‘Developing Campus Recruitment Strategies to Secure Future Leadership, Diversity, Efficiency, and Innovation,’industry experts discussed the significance of campus recruitment in building strong talent pipelines and fostering a culture of innovation and diversity. The Panelists and Moderator included:
Moderator:Mr. Suraj Narain, EMD & Founder, Searchbourne Consulting Pvt Ltd, said, “Campus recruitment is not just about filling positions; it’s about sculpting the future of organizations. By implementing strategic initiatives that prioritize diversity and innovation, we chart a course towards sustained excellence.”
Panelists:
• Ms. Pooja Bansal, Executive Vice President & CHRO, Piaggio India, stressed the strategic importance of campus recruitment as a branding opportunity for organizations.
• Mr. Saurabh Shah, Director, Head of People Ops, Krafton India,discussed the broader investment in talent development beyond mere hiring, emphasizing the importance of a learning attitude.
• Capt. Raman Raina, Director-HR, Honeywell,highlighted the significance of attitude in candidate selection, prioritizing qualities like hard work and dedication.
• Mr. Kalyan Pawar, Executive Vice President – Corporate ER, Endurance Technologies Limited, emphasized aligning academic curricula with industry requirements to better prepare students for the workforce.
• Ms. Deepali Singhal, Director of Human Resources, Conrad Pune,highlighted the strategic significance of campus recruitment in fostering future leadership within organizations.

The event also witnessedMr. Bobby Kuriakose, Director – HR, Forbes Marshall, as the keynote speaker. Mr. Kuriakose shared valuable insights on organizational purpose and leadership development, outlining three types of organizations:Rest, Best, and Next. He emphasized the importance of choosing a purposeful organization that fosters growth and innovation, possessing clarity in purpose, future focus, an aligned culture, stakeholder orientation, and visionary leadership.
‘Lexicon MILE HR Leadership Excellence Awards & Conclave 2024’ not only celebrated excellence in HR but also provided exposure to students to have a better understanding of the industry requirements to thrive in an ever-evolving business landscape. With this initiative, Lexicon MILE is poised to continue its commitment to nurturing talent and driving industry excellence.

The retail footprint of Blaupunkt is rapidly expanding

India: Blaupunkt, a global leader with 100 years of heritage in the audio sector, proudly announces the appointment of two new distributors to expand its presence in South India. With this strategic move Blaupunkt strengthens its foothold in key regions, marking a significant milestone in its growth trajectory.

The expansion journey commenced with the appointment of distributors in Punjab, Uttar Pradesh, and parts of Bihar, bolstering Blaupunkt’s accessibility and market penetration in North India. Today, the company extends its footprint further into the vibrant markets of South India, specifically Hyderabad and Bangalore with the recent additions, Blaupunkt’s distribution network now extends to Punjab, Uttar Pradesh, Bihar, North East, Hyderabad, and Bangalore.

“This achievement underscores Blaupunkt’s commitment to delivering innovative products and exceptional customer experiences across the length and breadth of India. stated Sukhesh Madaan – CEO Blaupunkt Audio India “ We are excited about the opportunities these partnerships bring, enabling us to connect with more consumers and enrich their lives with our premium audio solutions.”

The addition of these distributors reflects Blaupunkt’s dedication to enhancing its distribution network, fostering closer relationships with retailers, and ultimately, ensuring greater accessibility to its renowned product range. With a legacy of excellence spanning decades, Blaupunkt continues to set new benchmarks in the consumer electronics industry, driven by its unwavering focus on innovation and customer satisfaction.

Blaupunkt is a globally recognized German brand synonymous with quality and innovation in the audio industry. With a rich heritage spanning a hundred years, Blaupunkt continues to pioneer cutting-edge technologies and deliver premium products that elevate consumer experiences worldwide.

Dynatrace CISO Report: Security-C-Suite Alignment Gaps Expose Organizations to AI-driven Cyber Threats

INDIA, 4th May 2024 Dynatrace (NYSE: DT), the leader in unified observability and security, released its annual CISO survey today. This year’s report, “The State of Application Security in 2024”, reveals that organizations are struggling with internal communication barriers, which hinder their ability to address cybersecurity threats. The results indicate that CISOs find it difficult to drive alignment between security teams and the C-suite, leaving gaps in the organization’s understanding of cyber risk. As a result, they find themselves more exposed to advanced cyber threats, at a time when AI-driven attacks are on the rise.

In this year’s report, Dynatrace explored these communication gaps to better understand how a unified approach to observability and security can help teams collaborate more effectively and reduce risk exposure.

Key findings include:

· Lack of C-level and board alignment leads to cyber risks: CISOs struggle to drive alignment between security teams and the C-suite, with 87% of CISOs saying application security is a blind spot at the CEO and board level.

· Security teams are too technical: Seven out of ten C-suite executives interviewed say security teams talk in technical terms without providing business context. However, 75% of CISOs highlight the issue is rooted in security tools that cannot generate insights that C-level executives and boards of directors can use to understand business risks and prevent threats.

· AI is driving more advanced cyber threats: Addressing this technology and communications gap is becoming more critical as the rise of AI-driven attacks and cyber threats significantly increase business risk.

Against this backdrop, nearly three-quarters (72%) of CISOs say their organization has experienced an application security incident in the past two years. These incidents carry significant risk, with CISOs highlighting the common consequences they’ve experienced, including impacted revenue (47%), regulatory fines (36%), and lost market share (28%).

“Cybersecurity incidents can have devastating consequences for organizations and their customers, so the issue has rightfully become a critical board-level concern,” said Bernd Greifeneder, Chief Technology Officer at Dynatrace. “However, many CISOs are struggling to drive alignment between security teams and senior executives because they’re unable to elevate the conversation from bits and bytes to specific business risks. CISOs urgently need to find a way to overcome this barrier and create a culture of shared responsibility for cybersecurity. This will be critical to improving their ability to respond effectively to security incidents and minimize their risk exposure.”

Additional research findings include:

· The need to drive closer engagement between security teams and the C-suite is becoming more important as the rise of AI exposes organizations to added risk. CISOs are concerned about AI’s potential to enable cybercriminals to create new exploits faster and execute them on a broader scale (52%). They are also concerned about AI’s potential to allow developers to accelerate software delivery with less oversight, leading to more vulnerabilities (45%).

· As they look for a solution, 83% of CISOs say DevSecOps automation is more important to manage the risk of vulnerabilities introduced by AI. Additionally, 71% of CISOs say DevSecOps automation is critical to ensuring reasonable measures have been taken to minimize application security risk.

· A further 77% of CISOs say current tools such as XDR and SIEM solutions cannot manage cloud complexity, as they lack the intelligence needed to drive automation at scale, and an additional 70% of CISOs say the need for multiple application security tools drives operational inefficiency due to the effort needed to make sense of disparate sources of data.

“The growing use of AI is a double-edged sword, creating efficiency gains for both digital innovators and those seeking to breach their defenses,” continued Greifeneder. “On the one hand, there’s a greater risk of developers introducing vulnerabilities through AI-generated code that has not been adequately tested, and on the other, cybercriminals can develop more automated and sophisticated attacks to exploit them. Adding further pain, organizations must also comply with emerging regulations such as the SEC mandate, which requires them to identify and report on the impact of attacks within four days. Organizations urgently need to modernize their security tools and practices to protect their applications and data from modern, advanced cyber threats. The most effective approaches will be built on a unified platform that drives mature DevSecOps automation and harnesses AI to deal with distributed data at any scale. These platforms will provide the insights the entire business can rally behind and use to demonstrate compliance with stringent regulations.”

The complimentary report, The State of application security in 2024: The Imperative of driving closer alignment among the CISO, CEO, and Board, is available for download.