The landscape of cybersecurity is evolving rapidly in response to the surge in sophisticated threats. As we approach the conclusion of 2023, cybersecurity emerges as an ever more urgent concern, demanding the attention of all.
Notably, Forbes anticipates that global economic losses from cyber-attacks will reach an astounding $10.5 trillion by year-end. This significant figure underscores the escalating demand for cybersecurity, acknowledging its critical importance for individuals, businesses, and government agencies.So, what are the predicted trends in cybersecurity for the year 2024? Check out the comprehensive explanation below.
What is Cybersecurity?
According to the National Cyber Security Center (NCSC), the goal of cybersecurity is to mitigate the possibility of cyber-attacks for both individuals and organizations. Primarily, cybersecurity seeks to protect the devices, systems, and services used online from being damaged or stolen, as its name implies.
Cybersecurity also relates to preventing unauthorized access to personal information stored in online accounts and devices. Cybersecurity is essential in the digital age, as devices such as cell phones, computers, and laptops are constantly connected to the Internet for shopping, working, accessing banking and email accounts, and preventing cybercriminals from stealing or blocking access to your sensitive data, accounts, and devices.
A robust cybersecurity strategy can improve your security posture against attacks that are designed to access, alter, delete, destroy, steal, or extort money from the owners of sensitive systems and data. Cybersecurity is essential to thwarting attacks that have the intent of disabling or disrupting a system or device.
Businesses and government agencies are increasingly aware of the evolving cybersecurity landscape due to the proliferation of cyber threats.
Cybersecurity Trends in 2024
According to multiple sources, there are several cybersecurity trends that will require attention in 2024. Here are some these trends:
Ransomware attacks will continue to evolve for the foreseeable future. The extortion amount will become more expensive. By 2024, we can expect to see hackers targeting new groups of victims and using innovative techniques to evade detection. The ability to create robust ransomware plans will become even more critical as deepfake technology that can easily impersonate individuals and hold sensitive corporate data hostage continues to proliferate.
Zero Trust Architecture
The Zero Trust Architecture, which was originally created as a response to the complexity of systems and security integration, will need to be adapted on an even broader scale in the future. The evolving cyber threat landscape requires zero trust not only across enterprise networks, but also across the ecosystem of remote workers, partner organizations, and IoT devices. Zero trust will shift from a technical network security model to something adaptive and holistic through real-time authentication and continuous AI-powered activity monitoring.
AI as a Double-Edged Sword
However, the increasingly popular AI can be both beneficial and harmful, like a double-edged sword. While AI is an enabler of productivity, it is also a potential risk in the wrong hands. Cybercriminals are predicted to increasingly use AI to automate large-scale cyberattacks, develop repetitive phishing email campaigns, and create highly accurate fake content. Other malicious AI-based tactics are expected to gain momentum, which could lead organizations to inadvertently share sensitive data with unscrupulous entities. Additionally, employee misconduct using GenAI surreptitiously without corporate oversight or approval to leak sensitive data or infiltrate privileged accounts also overshadows the technology’s use.
The increasing use of cloud services and storing data requires robust cloud security. According to a recent report by Arrow Communications, the cloud security market is expected to reach $12 billion by 2024. The use of cloud technology is increasing awareness of the security of data and services, creating a greater need for certified cloud security professionals in businesses and government agencies. At the same time, the increase in the number of IoT devices is increasing the likelihood of cybercrime.
IoT Cyber Attacks
The Internet of Things (IoT) is being used across all industries and sectors to streamline productivity and operations. However, the proliferation of IoT devices also increases the risk of getting cybercriminated. The risk persists as workers connect or share data through unsecured devices. While designed to provide convenience and ease of use, IoT devices often fail to secure. Household IoT devices are highly vulnerable due to weak security protocols and using passwords. Although the industry has been aware of these security risks for many years, there is still a lack of implementation of IoT security standards.
Organizational Readiness for Cybersecurity in 2024
To ensure your company and agency are prepared for the growing cybersecurity threats, it’s essential to keep in mind four key aspects. These are crucial components of your company’s preparedness to avoid any possible cyberattacks. What are these four things?
1. Extra Layer of Security
Implementing an additional layer of security is one of the most important ways to ensure that business systems, services, and applications remain safe from numerous cyber threats. Add multi-factor authentication (MFA) or two-factor authentication (2FA) to strengthen your organization’s security.
2. Regularly Update and Patch Systems
Make sure all business systems are always updated to the latest version to ensure there are no security holes that can be abused by cybercriminals. You can implement an auto-update system so that no security features and systems are left behind when protecting your business.
3. Cybersecurity Training for Employees
One gap that often goes unnoticed is the role of internal parties that can increase cybersecurity vulnerabilities. Make sure all employees, from staff level to decision makers, are trained on cybersecurity to increase awareness of cyber threats to the business.
4. SOC or MSSP
Security Operations Center (SOC) and Managed Security Service Provider (MSSP) are options that companies can consider in improving readiness for the increasing cybersecurity trend. Check out the differences between the two in this brief explanation.
SOC is the team responsible for monitoring, managing, and securing a company’s cybersecurity operations. It stores all incident-related data, analysis results, and processes that gather information from various sources such as firewalls, IDS/IPS systems, antivirus software, and other network tools that monitor various aspects of the network such as ports or other services. The SOC is tasked with monitoring and analyzing these sources for any suspicious activity that could indicate a threat, attack, or attempt.
MSSPs are third-party companies that provide security services to help companies protect themselves from cyber threats. MSSPs typically provide software and services to secure corporate data and build a network of security experts to respond to various attack threats. Compared to the SOC, which is an external team, the MSSP is an external team assigned to secure a company’s cyber environment. The MSSP’s role is similar to that of the SOC, which is to monitor and perform cybersecurity management, including virus and spam blocking, intrusion detection, firewall and VPN management. MSSPs are also responsible for making system changes, upgrades and modifications.
To ensure that your company and agency are prepared for cybersecurity trends, CTI Group offers a range of digital solutions that can improve the ability to defend against various threats. As the largest cloud and digital solutions provider in Indonesia, CTI Group is here to meet the needs of cybersecurity services for your business.
CTI Group is the Biggest IT Company in Indonesia
Now is the right time for your company and agency to improve cybersecurity. Get a range of cybersecurity solutions according to your organization’s needs and the latest information updates on various technologies from CTI Group.
Supported by more than 250 experienced and certified engineers, more than 100 global IT brands from 11 subsidiaries, CTI Group ensures your business has more reliable cybersecurity. CTI Group ensures your business runs optimally and remains safe from various cyber threats. For more information about our range of cybersecurity solutions, contact the following page.