We frequently imagine cybersecurity as a never-ending conflict between hackers and criminals and security specialists, whose intensity is continuously rising as a result of ongoing technological advancements. This is the “glamorous” aspect of business that occasionally appears in television programs and motion pictures.
Threats do occasionally originate from adversarial foreign countries or crafty, tech-savvy criminal organizations. Nevertheless, in fact, dangers are just as likely to arise from negligently secured networks that unintentionally expose important data or from careless or dishonest employees utilizing unsecured devices while working from home.
Hackers have more potential entry points into our data the more devices we network and connect together. The number of IoT-connected devices worldwide is expected to reach 43 billion in 2023, according to Gartner experts.
Cybersecurity Trends And Use Cases
Trade-offs are the foundation of business. Corporate operations are made simpler by digital technologies since they speed up information flow. On the other side, they give fraudsters fresh opportunities to embezzle money from firms.
Here are five significant cybersecurity trends and use cases that highlight the impact it creates on different organizations:
Zero Trust Cyber Security
Business models and worker dynamics are changing as a result of the shift to cloud and hybrid IT systems, expanding the presence of corporate assets outside the traditional security perimeter. It takes both distributed policy enforcement and centralized policy orchestration to provide more responsive security control to safeguard these exposed assets.
Effective authentication and authorization are made possible by zero trust security architecture, ensuring that only authorized users and apps can access the protection surface. Utilizing network segmentation, multi-layered threat prevention, lateral movement limitation, and granular user access control, ensures ongoing trust evaluation.
Also Read: Cyber Threat Intelligence: A Company’s Defense Mechanism Against Cyber Threats
Privacy-enhancing Computation
Data privacy concerns are amplified by the expansion of digital technology and data usage because enterprises are compelled to protect data privacy because their organizational structures are based on data. In-depth analysis is necessary for data processing operations involving personal data transfers, fraud analytics, data monetization, and other operations. By enabling secure data-sharing and cross-regional collaboration, privacy-enhancing computation can assist companies in maintaining privacy and security.
In order to secure data in use while retaining secrecy, privacy-enhancing computation is mentioned as one of the top strategic technology developments of 2022 by Gartner. Additionally, it predicts that by 2025, 50% of all enterprises will have implemented multi-party analytics use cases and privacy-enhancing computing to handle sensitive data in untrusted environments and address the increased demand for sensitive data exchange.
By the end of 2023, almost 75% of the world’s population will have their private information protected by modern privacy standards. Also, regulatory organizations will step up their efforts and demands in response to the increased number of security breaches by establishing new privacy regulators and closely reviewing cybersecurity readiness.
IoT with 5G Network Poses New Risks
A new age of connectedness with the Internet of Things will be possible thanks to the development of 5G networks (IoT). Due to the connectivity between numerous devices, they are also more susceptible to outside interference, assaults, or unidentified software bugs. Even Chrome, the most widely used browser on the planet and one that Google endorses, was shown to have serious issues.
As 5G architecture is so new to the market, extensive study is needed to identify vulnerabilities and strengthen the system’s defenses against outside threats. We are unaware of any network threats that the 5G network may be subject to at any time. Manufacturers must take extreme care while developing cutting-edge 5G hardware and software to avoid data leaks.
Continuously Evolving Ransomware
Using the advantages of digital platforms while reducing cyber hazards can be made possible for businesses by being aware of current cybersecurity trends and use cases. One of the major problems with cyber security that businesses confront globally is ransomware attacks. According to an IBM analysis, the average cost of a data breach in 2021 was $3.86 million, which was the largest amount in 17 years.
Cybercriminals steal private information and demand cryptocurrencies or other kinds of payment. Additionally, organized cybercrime groups encrypt data and threaten to disclose private information unless victims pay a ransom, increasing the possibility that data will not only be lost but also be made public.
These attacks will keep evolving and adapting, becoming more sophisticated, focused, and expensive. According to the Sophos Threat Report, extortion will be a major focus of cybercrime in 2022. Attackers who switch their attack emphasis from data encryption to data exfiltration will maximize their financial rewards.
BYOD Screams Vulnerabilities
Over the past few years, mobile technology has advanced quickly, improving information mobility. BYOD policies are being embraced by businesses and employees because they provide greater flexibility. These devices frequently connect to corporate networks, increasing the attack surface and raising the possibility of losing critical data significantly.
Notwithstanding the worries, Bitglass Research reveals that 30% of firms have implemented BYOD without deploying any malware security. The same study reveals that data loss or leakage is an organization’s top security worry (62%). Furthermore, a startling 49% of organizations are unaware of unmanaged devices that have access to corporate resources and the capability to download malware.
Every other device that makes use of the company’s systems is an endpoint that must be protected because it could be used as an attack vector. But, by adopting a continuous monitoring strategy and utilizing automated programs for third-party penetration testing programs and real-time vulnerability management, you can benefit from BYOD and mobile devices.
What does the future of Cybersecurity look like?
The worry that firms will increase their security measures in response to these cybersecurity trends and use cases in 2023 is inevitable. Businesses are expected to spend over $100 billion this year on asset protection alone.
Since that infrastructure security is becoming an increasingly important part of almost every firm, it would be a sensible choice for them to start their learning curve in cybersecurity now so that they can become authorities for tomorrow. Cybersecurity experts with extensive IT industry expertise often command the highest packages.
Developing and fostering a culture of awareness around cybersecurity risks is perhaps the most crucial action that can be made at any firm. Companies and employees should no longer simply assume that the IT department should handle cybersecurity-related issues. In reality, everyone’s work description in 2023 should include gaining a sense of the dangers and taking simple security measures!
Phishing attacks use “social engineering” techniques to deceive victims into disclosing sensitive data or downloading malware onto their computers. Everyone may learn to recognize these types of attacks and take simple safety measures to protect themselves without needing technical expertise.
In the same way, everyone should be trained and kept up to date on basic security skills including how to use strong passwords and understand two-factor authentication (2FA). Simple measures like these to encourage a culture of cybersecurity awareness should be a key component of business strategy for companies that want to ensure they build resilience and preparation over the future months.
