In 2024, organizations must build their security automation framework to be more resilient and robust. Companies should refine and optimize their cyber-security tech stack to gain maximum value from it and increase their ROI.
As threats become more sophisticated and smarter, companies must keep their cybersecurity stack updated and constantly improve it.
Maintaining an updated security stack will help secure all assets occasionally, and ensure optimal functions for seamless operations.
Optimization of security tech stacks also ensures that the company reaps ROI, which remains one of the key aims for 2024! One of the tech stacks—security automation, will be a prime security need.
Exploring the importance and trends of security automation ready for 2024 will help leaders to understand how they can increase their business ROI.
Trends in Modern Security Tools
Markets and Markets reports in Security Automation Market-Global Forecast to 2028 say that the global security automation market size is expected to reach USD 16.7 billion by 2028, from USD 8.9 billion in 2023.
There is a clear growth in phishing emails and ransomware incidences, along with other complex security incidents. This has triggered an increased need to use security automation in 2024.
Consider a few insights from the cybersecurity world:
- Statista’s Annual share of organizations affected by ransomware attacks worldwide from 2018 to 2023 report finds that over 72% of businesses globally were under ransomware attacks the most.
- The (ISC)2 Cybersecurity workforce Study finds that there has been a shortage of 3.4 million skilled security professionals globally as of 2022.
Today, even though breaches and targeted ransomware attacks are on the rise, there is a lack of expert skills to address these challenges.
Security automation is filling this gap by delivering faster investigations and responding before severe damage occurs. Here are a few more reasons why automating the security stack is an advantage:
Threat response automation speeds manual processes
Security automation software runs on machine learning processes that accurately identify threats and suspicious data behavior.
This insight into the threats also gives more information on their impact. Sometimes, an automated response is set for taking a specific action to neutralize the threat.
Automated response systems that use natural language and AI tools, help gather contextual information, create workflows, and suggest mitigation processes for specific threats.
Many companies already use the ChatGPT API in their tools to speed investigations and generate automated responses.
These responses reduce the response time and the cost of resources required to respond to specific threats.
Less Need for Monitoring
The speed of automated security systems eliminates the casual long overhaul monitoring processes. They centralize threat detection and response systems with accurate data upon which security leaders can keep a watch.
Automation also reduces the gaps in visibility required to monitor threats. This way, organizations can monitor threats on a regular basis. This will also help them to stay prepared with a smart response plan.
Builds a Mature Security Framework
The automation of security builds a mature security framework. A mature framework is one in which security tools are aligned with the required security levels. There also needs to be a well-defined processing system that responds to threats immediately.
Tools like SOAR, SIEM, and XDR provide threat detection and automated response within a framework. They automate workflows and build low-code automation scripts to take focused actions to respond to threats.
Security automation has become unavoidable due to:
– Expanding attacks in organizations
– Shortage of security skillsets
– Rise of complex cyberattacks
However, deciding on the right security automation tools will depend more on the level of security needed for any company.
As we move to 2024, here are some expected trends in security automation:
Maximize Business Value by Integrating AI Existing Security Stack
The current enterprises have become more particular in their cybersecurity investments and budgets.
As a result, IT and security leaders will invest more in technologies like AI to derive the highest value from their current tech stack.
Security automation with AI tools will allow companies to build more automated security systems. The tools will boost face detection and automatic threat detection models.
AI tools will be used more to develop smart malware detection tools.
In addition, AI-enabled threat detection systems will be used to predict new attacks and data breaches to stop them before they occur.
Rising Importance of IoT Security
Companies will increasingly ensure a secure Internet of Things (IoT) devices network. They can then take advantage of IoT networks for their business benefits and growth strategies.
Applications, techniques, and tools will also become seamlessly interconnected, thus eliminating unnecessary processes and workflows.
This way, security automation will boost the seamless bridging of systems, bringing them together under one roof for optimum monitoring, management, and measurement.
Key IoT Security Statistics 2023 findings say that:
- 83% of organizations have already increased their expenditure to adopt IoT technology for their cybersecurity solutions.
- 32% of the companies have adopted IoT for their data security
- 57% of companies have increased data privacy measures,
- 43% are focused on preventing data breach incidents.
Focus on Mobile Security will be High
As the digitalization of businesses grows, companies want to be ‘seen through’ every digital device to stay competitive.
However, they will also have to focus equally on mobile security solutions for any data or information breaches, hacking, virus attacks, phishing, social engineering, etc.
In 2024, companies will focus more on building and improving mobile security for users and businesses.
Automated security solutions for mobiles will deliver solutions like strong encryption of data, MFA, identity management systems, and firewalls.
These automated security systems are crucial in preventing unauthorized access in mobile devices, and monitoring any suspicious activities.
Business leaders should consider using automation in their security tech stack optimization to gain more value from the investment and offer advanced defense to the systems.
With this strategy, they will gain more business value by allowing systems to function efficiently and accurately without any hindrances due to cyber-attacks.