At Dynatrace Perform 2022, the importance of application security and vulnerability management in cloud-based services was highlighted, particularly focusing on the challenges posed by dynamic multicloud environments and fast-paced software innovation. The conference emphasized the need for modern vulnerability management strategies that incorporate AI, automation, and contextual intelligence to effectively address runtime vulnerabilities, as demonstrated by the widespread impact of the Log4Shell vulnerability. Traditional methods, often manual and slower, may not adequately protect complex cloud-native environments, which require real-time observability and a DevSecOps approach that includes both "shift left" and "shift right" strategies for identifying and prioritizing vulnerabilities. The event underscored the necessity of a comprehensive, automatic, and intelligent approach to vulnerability management to maintain security without hindering innovation.