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A new survey has revealed that many Australian businesses are keen to say goodbye to passwords in the next two years – and some already have!
According to the 2023 Workforce Authentication Report, conducted by Sapio Research on behalf of the FIDO Alliance and LastPass, an overwhelming 94 per cent of Australian businesses have already either made the move or are planning to within two years.
That is 2 percentile points above the global average of 92 per cent.
In fact, 41 per cent are ready to ditch passwords within six months, and 19 per cent have already adopted a “passwordless experience”.
Passkeys linked to a facial scan or fingerprint – which Google is already promoting for its users – seem to be the way to go, with 94 per cent of Australian companies feeling that they will improve their security posture. Ninety-two per cent also believe it will help cut down the amount of “shadow IT” applications in their work environment.
As to what authentication methods companies are currently using, 41 per cent are taking advantage of one-time passcodes, 27 per cent are using manually entered passwords, and 36 per cent use some form of multifactor authentication.
Education will be key to making this change away from passwords, however, with just over half of the Australian businesses surveyed saying they need to learn more about how passwordless technology actually works.
“These survey results demonstrate that businesses are excited about the prospect of a passwordless future and all the benefits that future will bring. And the clear majority also recognise that a password manager plays an important role in that future,” said Mike Kosak, senior principal intelligence analyst at LastPass, in a statement.
“While the adoption of passwordless authentication will take some time and coaching, LastPass is proud to support forward-thinking leaders like these on that journey – ushering their organisations toward security that is stronger and more effortless than ever.”
Sapio Research polled 1,005 IT leaders from around the world – 200 represented Australian businesses, with the rest from the United States, Germany, the United Kingdom, and France.
David Hollingworth has been writing about technology for over 20 years, and has worked for a range of print and online titles in his career. He is enjoying getting to grips with cyber security, especially when it lets him talk about Lego.
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