Read this before you upgrade your cybersecurity trends in 2023: 4 common mistakes to avoid and best practices to follow
Cyberattacks are becoming more sophisticated with the advancement in technology. They led to 92% of all data breaches in 2022 alone. These staggering statistics increase the need to stay current with cybersecurity trends to combat the ever-growing security threats. We have listed the emerging cybersecurity threats to follow in 2023 to help you stay ahead of the attackers.
Emerging Cyber Insurance
- As the prevalence and risk of cyberattacks grow, new industries, such as cyber insurance, are emerging to mitigate these risks. An increasing number of organizations seek this solution to minimize the attack’s effects and protect against financial losses.
However, companies need to demonstrate sufficient protection to secure comprehensive insurance coverage. For this reason, small and medium-sized enterprises may need help meeting the cyber insurance requirements that safeguard their valuable data.
Attack Detection Tools Are A Necessity
- With cyberattacks on the rise, attack detection tools are no longer considered a luxury. Instead, they are becoming a necessity. When safeguards are not in place or unavailable, each potential attack can lead to substantial consequences. For instance, one successful data breach can cost millions of dollars depending on the attack type, duration, loss of reputation, customer loyalty, and customer base.
Unfortunately, no industry is immune to these threats, as any business that stores data on a network can be targeted. Identifying anomalous activities across the entire ecosystem of users, applications, and infrastructure is critical to combat attacks and minimize their impact effectively. This increases the reliance on artificial intelligence (AI) and machine learning (ML) technologies. According to Gartner, the demand for cloud-based solutions for detection and response is expected to grow significantly in the coming years.
Risks Associated With IoT Technology in Homes
- The use of IoT technology in home automation is expected to reach a supply of 1.8 billion smart devices to homes by 2025. While these devices have seamlessly integrated into our daily lives, it is crucial to remember that each IoT device has the potential to be hacked and controlled by cybercriminals.
For instance, the percentage of hacking automotive systems is increasing as critical functions like safety airbags and climate control are increasingly connected to the internet. Since the number of automated vehicles on the roads is expected to increase in 2023, so does the rise in attempts to eavesdrop on conversations.
The Rise Of Zero Trust
- Zero trust is an advanced security approach built on the principle of never trust, always verify. In a zero-trust environment, users and employees are constantly scrutinized, reassessed, and reauthenticated through various authentication methods.
Zero Trust Network Access (ZTNA) is currently the fastest-growing form of network security and is projected to experience a growth rate of 31% in 2023, as predicted by Gartner. However, ZTNA will not completely replace Virtual Private Networks (VPNs) until 2025.
Reliance On Outsourcing Cybersecurity
- As cyberattacks become more advanced, many organizations require assistance ensuring robust cybersecurity measures. Consequently, the trend of outsourcing cybersecurity to specialized service providers for protecting businesses is gaining momentum.
Cyber insurance has undoubtedly elevated the standards for protection. Therefore, higher expectations are placed on service providers to deliver top-level security solutions.
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