In recent years, more businesses and organizations have increasingly embraced and incorporated digital processes. Due to most of their clients being online, threat actors began to see this as an opportunity and began to capitalize on it. This led to a period of vicious hack attacks, which exposed personal and client information, not excluding the shutting down of entire corporate operations for hours or days.
For context, in the first half of 2022 alone, more than 53 million people were adversely affected by data compromise.
Cyberattacks are currently the world's fastest rising crime. A recent report showed that more money is being spent on correcting financial damages from cybercrime than overall losses from the worldwide illegal drug trade. And this excludes other forms of loss, such as reputation loss.
And it's not getting better. Businesses cannot leave data security and risk management to chance; corporations may face stringent restrictions and pricey settlements when consumer data is breached. Therefore, there needs to be better protection for businesses in these aspects.
This is changing the approaches and methods businesses and governments utilize to crack down on cyber criminals, introducing new cybersecurity trends and eradicating old ones.
So, what are the newest cybersecurity trends businesses should take advantage of in 2023?
Even though IoT has been available for quite a while now, it was not at first readily accepted. However, while this tech expands economic prospects and enhances the quality of life, it also increases the chances of cybercrime.
According to predictions, 64 billion IoT devices will be installed globally during the next five years. Interestingly, one factor contributing to this rise is remote working.
How is this a problem, exactly?
Having more gadgets linked to the internet expands the cyber-attack surface. In other words, the number of possible entry points for hackers to breach digital infrastructure grows with every device added to the IoT world. Most IoT devices have considerably fewer security protections than PCs or phones.
Nevertheless, expect to see an increase in IoT – and, just maybe, a move in the direction of IoT device protection.
Cyber security risks are becoming common as the years go by, causing businesses to allocate bigger portions of their IT budget to security improvements and staff training. This will induce a situation where, in coming years, there will be lesser chances of hack attacks due to staff being more knowledgeable about the kinds of hacking methods caused by human error, as opposed to the failure of security measures and installations. Increased phishing knowledge, stronger passwords, and other practices will help prevent many assaults in 2023.
Nowadays, who doesn't own a smartphone?
Statista states that more than 6 billion individuals will own smartphones in 2023. This is because most significant e-commerce platforms are accessed via these devices.
While this seems promising, it is a boon for cybercriminals and, ultimately, not good for mobile users. For cybercriminals, it is a chance to target smartphone users through their devices. The higher people continue to use their devices for personal and commercial interactions such as shopping, banking, and travel or hotel booking, the higher the probability of hackers getting through to mobile device users. As usual, the loss that comes after cyberattacks can range from minimal to unrecoverable.
In recent times, AI has played a critical role in developing automated security systems, natural language processing, facial identification, and autonomous threat detection. However, this is not to say it has been infallible. Speaking more specifically, it is also being utilized to create clever malware and assaults that can circumvent the most recent data security systems. With AI, threat detection systems can forecast new assaults and promptly inform administrators of data breaches.
Enter machine learning.
Machine learning (ML) is a form of AI. Its importance in cybersecurity is swiftly developing. Cybersecurity is becoming more effective and less expensive due to machine learning and computer-assisted security solutions. ML creates patterns and manipulates them with algorithms based on a large dataset. As a result, it can predict and respond to current assaults in real time.
With current progress, it is safe to infer that the best of what AI and its subset ML can do is yet to come. This will have cybersecurity professionals anticipating the years ahead, and 2023 will be seen as that year that brings more security to our devices.
If you need to get your business's security architecture updated with the current cybersecurity trends, Vudu Consulting can help. With many years of experience in IT services and consulting, we can get you what you need.