Top 7 Cybersecurity Trends to Keep an Eye on in 2023
Constant advancement in technology has given wings to the IT sector but surely it has led to an increase in cyberattacks. With every new advancement, there is a new cyber threat ready to pull it down.
Post-pandemic where most of the employees are working from home and using their personal devices to remotely connect with the organisation’s network, there are a new set of challenges.
Not only this, BYOD (Bring Your Own Device) culture makes an employee access sensitive data on their unmanaged personal devices creates a massive threat for data leakage.
According to Statista, approximately 15 million data records were exposed through data breaches. This figure is increasing exponentially and statistics says that as compared to the previous quarter, data breaches have increased by 37%.
Here are some of the cybersecurity trends that you should keep an eye on in 2023:
Zero Trust Replacing VPN
VPNs have their scalability issues and since the attackers have already cracked it, it has become quite vulnerable. On the contrary, Zero Trust is based on the concept of ‘Never Trust, Always Verify’, it is highly scalable and secure.
According to Cybertalk, 72% of the organisations are in the process of adopting the Zero Trust environment or have already adopted it.
Once a company adopts a Zero Trust environment, each user is reassessed, reverified, and unauthorized using multiple authorization methods. Hence, an organisation does not grant blanket access to its employees for its all resources.
Threat Detection and Response Tools
Gone are the days when cyber attacks detection took hours for identification and substantially more hours to rectify them.
The use of AI and machine learning are able to go through the history of the ecosystem and spot unusual patterns. AI and ML leverages threat intelligence and advanced file analysis to detect (and block) cyber threats.
Owing to the fact that the organisations need to identify unusual activities or patterns across their entire ecosystem. Threat detection and response tools like EDR, XDR AND MDR will be using artificial intelligence and machine learning to detect threats as well as block advanced threats.
It is believed that EDR and MDR will increase their capabilities and scalability in 2023 for newer cyber attacks that are designed to evade traditional defences.
Third Party Risk Management
In order to improve productivity, many organisations use third party applications. There is no denying that there are a number of vulnerabilities while using these applications that attackers can use to gain access to one’s organisation.
Similarly, there have been attacks on software supply chains. There is a huge demand by business owners for improved third party risk management tools. According to Help Net Security, around 82% organisations say that their supply chains are prone to cyber attacks.
Introduction of TPRM programs helps assess the compliance of the regulations for the activities performed by the third party in an organisation.
In the year 2023, extended fourth party functionalities will be introduced and through central repository, automated screening, integration of trusted sources like Dow Jones, Security Scorecard, Bitsight and more, could be boon for managing third party risks.
Cybersecurity Outsourcing
According to Fortinet, 60% of the organisations struggle to recruit cybersecurity personnels, 52% of them were not able to retain the talent in their organisation, and 67% organisations agree that the shortage of skill set has led their business prone to data and security breaches.
Managing a full-fledged security centre is quite overwhelming for organisations. Besides this, cybersecurity has become more complex over the recent years. Scarcity of talented security personnels, training and retaining them seems quite a task.
Managing an in-house team becomes difficult without the right talents and tools. And, hence, In these conditions, organisations are forced to outsource their security operations in order to curb security threats and data breaches in their organisation.
According to Forbes, leveraging the leadership services of VCISO in 2023 will be the most used option for organisations looking for cybersecurity outsourcing.
Cyber Insurance
According to Fortune Business Insights, the global cyber insurance market is projected to grow from $12.83 billion in 2022 to $63.62 billion by 2029, at a CAGR of 25.7%.
When organisations start accessing their security risks and know the maturity levels of their cyber security program and start addressing the underlying issues, cyber insurances are able to cover or insure the business’s data in case of any breach.
Cyber insurance covers your business liability and protects your business against financial losses caused by incidents like data breaches, theft and system hacks. Furthermore, it helps restore the affected data after a data breach, restore customer identities, notify about a data breach and repair damaged computer systems.
Industrial Systems Security (ICS)
ICS/SCADA are the first target for attackers and hence Industrial operations require a robust cyber security system. Any attack on the social engineer ICS system can lead to loss of life and it has become crucial to protect such systems from cyber attacks.
In 2023, it is predicted that social engineers will advance their techniques in order to catch hold of these system vulnerabilities and will be able to rectify them. Along with this, it is likely that there will be a more proactive and strategic approach to minimise the threats on ICS systems.
Artificial Intelligence
Analysing a vast amount of data at once helps detect a threat pattern and it has become a need for organisations. According to CNBC, there is a rise in cyberattacks year on year, and it has become a necessity to develop AI-based security products. The market of AI security products is estimated to reach $133.8 billion by 2030.
Through Automated security systems, natural language processing, face detection, and automatic threat detection, organisations are able to secure their ecosystem from cyber attacks. Though, the same AI technology is used to develop new malwares by hacktivists.
But the potential of AI is advancing day by day to predict new attacks and notify admins about any security or data breach instantly.
Conclusion
The landscape of cybersecurity will continue to evolve in the coming years. Organisations are advised to keep re-evaluating their cyber security programs in order to stay up-to-date with the cyber security trends.
There is no dearth of doubt that newer and smart malware and ransomware will be developed and this mad race between attackers and cybersecurity is never going to end.
Hence, it is better that we stay ahead of the hacktivists and secure our environment from any security or data breaches.
If you are looking for cybersecurity experts, we at VisionTech are there to help you build a strategic roadmap to secure your organisation.