For enterprises storing sensitive data in the cloud, an enhanced security strategy is key to monitoring and protecting that data. In fact, 40 percent of respondents indicate that detecting and responding to cloud security incidents is now their top cyber security challenge. As part of apparent efforts to address this challenge, four in 10 companies have hired dedicated cloud security architects, while 84 percent are committed to using more automation to effectively defend against sophisticated attackers.

"As organizations expand their cloud footprint, traditional security measures are unable to keep up with the rapid growth of users, applications, data, and infrastructure," said Akshay Bhargava, vice president, Cloud Business Group, Oracle. "Autonomous security is critical when adopting more cloud services to easily deploy and manage integrated policies that span hybrid and multi-cloud environments. By using machine learning, artificial intelligence and orchestration, organizations can more quickly detect and respond to security threats, and protect their assets."

"The pace of innovation and change in business strategies today necessitate flexible, cost-effective, cloud-based solutions," said Tony Buffomante, U.S. Leader of KPMG LLP's Cyber Security Services. "As many organizations migrate to cloud services, it is critical that their business and security objectives align, and that they establish rigorous controls of their own, versus solely relying on the cyber security measures provided by the cloud vendor."

Additional Key Findings:

• Changing threat landscape poses challenges: Only 14 percent surveyed are able to effectively analyze and respond to the vast majority (75-100 percent) of their security event data.

• Cyber security spending on the rise: 89 percent surveyed expect their organization to increase cyber security investments in the next fiscal year.

• Inconsistency in cloud policies: 26 percent cited a lack of unified policies across disparate infrastructure as a top challenge.

• Rethinking cloud strategies and providers in the face of changing regulations: General Data Protection Regulation will impact cloud strategies and service provider choices, according to 95 percent of respondents who must comply.

• Mobile users are creating identity and access management challenges for organizations: 36 percent said mobile device and application use make IAM controls and monitoring more difficult.

• Automation can help: 29 percent surveyed are using machine learning on a limited basis, 18 percent do so extensively, and another 24 percent are now adding machine learning to existing security tools.