We witnessed some of the worst cybersecurity breaches in the past few years. In fact, these breaches or cyber attacks did not merely steal data from a startup hold up in a garage — they stole from some of the worlds biggest data makers. Not just tech companies, any organization can become a victim of data breaches. For example, the Marriott’s data breach affected 500 million people.
To overcome this scenario, tech companies should come up with new trends and ideas to create a solid and unbreakable wall between the data they need to protect and the hackers.
In this article, we list down some of the top trends that will affect cybersecurity strategies in the coming years:
1. Artificial Intelligence To The Rescue
AI is expected to become a trump card to fight against cyber attacks. Many organizations have already employed AI technologies to detect and prevent data breaches and cyber threats. Using the data to predict when future attacks or breaches may occur, more like fighting fire with fire only in this case we are using data. The use of AI and Predictive Analytics will help organizations to be more alert. As artificial intelligence and machine learning technologies advance, more threats can be prevented before they occur.
2. Devops impact on Cyber Security
Automation has resulted in a completely rewired software development process. Continuous Integration and continuous deployment have become a policy for faster and efficient software development. With the rise of DevOps and automation in the development process, security teams must become faster and more efficient. Automation tools for security will become a part of the development cycle.
3. Higher penalties – Bigger investments
Data is as important as money these days. In Fact, data is money. Losing important data can cause you a fortune. With governments imposing stricter laws regarding the management of data by organizations, companies are at the risk of getting a double slap in case of data breaches due to the penalties they have to face. The only choice left for companies is to build state-of-the-art cybersecurity systems which don’t come cheap.
For example, an organization doing business in the EU has to contend with the General Data Protection Regulation (GDPR). If an entity fails to comply with the regulations, they can be charged up to four percent of their annual global revenue.
The GDPR requirements include:
- Notifying those affected by a security breach within 72 hours of discovery
- Implementing appropriate and effective measures, such as sophisticated cybersecurity technologies, to protect data
- Prohibition from the use of long, convoluted terms and condition statements that consumers have long ignored
4. Multi-Factor Authentication
Multi-factor authentication is being used by financial companies as a more reliable and secure means of authentication. Biometric authentication seems to be the better option. Fingerprint scans, facial recognition, and other biometric authentication methods are growing popular among the mobile devices which is the major consumer tech today.
5. Cybersecurity and Internet of Things (IoT)
Today, most of the internet data is generated from IoT devices. The number of connected devices is increasing day-by-day putting security at risk. As more devices expand the network, greater the risk of exposing vulnerabilities to skilled hackers. Hopefully, no one has forgotten about the Mirai malware that infects IoT devices turning them into bots or zombies that can be controlled remotely. Increased security for IoT devices will become a trend that organizations will be forced to follow.
6. Cyber risk insurance
Cyber risk Insurance will become a part of the strategy for organizations. Data insurance will become a common thing in organizations that handle a huge amount of data. The insurance industry will need to come up with products that are specific and sticks to the needs of the clients. In the future, we might see insurance covering for Cyberattacks especially for the loss of reputation and trust with their customers, loss of future revenue from negative media or other exposure, and improvement costs for security infrastructure or system upgrades.
7. Higher Demand for cyber-security skills
As security threats rise, demand for skill set required to fight cyber attacks will also increase. In the future, we will see more opportunities for Cyber Security specialists. According to the current statistics, there are 2.9 million open cyber-security positions this year, compared to the 1.8 million last year based on a study conducted by Information System Security Certification Consortium (ISC²). The number is expected to rise in the coming years.
8. From Prevention to Resilience
Going forward, organizations will start focusing more on the idea of being able to recover quickly rather than prevention. More resources that were previously dedicated to threat prevention will gradually be assigned to help recovery from a threat faster and easier.
9. Cloud-based security platforms
With more and more businesses primarily focusing on cloud services, cloud-based security solutions will gain more traction in the security market. Cloud security solutions will offer a more scalable and flexible solution to the security challenges in the cloud environment. It will also facilitate automation to a large extent. Runbooks will open up a path for automation of responses to unusual new connections and cybersecurity incidents in a cloud.
When technology evolves, it also calls for its dark side. With its advancement, the threats are also expected to increase. As security professionals leverage technology to prevent crimes the hackers may also be doing the same leading to a never-ending war in the cyberspace. The idea is to stay updated and alert. Anyone can be a victim of a cyber attack.