Cybersecurity in 2023: Top Three Predictions

Many businesses worldwide faced significant data breaches in the last year. As the new year approaches, companies must adopt a proactive approach to security.

Cybercrime is increasing, with threat actors targeting both organizations and individuals alike. It’s crucial to be aware of the latest cyber threats to expect in 2023 if enterprises want to stay ahead of the curve. There are several areas to keep an eye on, ranging from AI-driven security systems to evolving malware. Here are a few cybersecurity trends that companies need to be aware of:

Evolving Social Engineering Attacks

In the coming year, there will be more cyber-attacks that use psychological manipulation to persuade victims into disclosing critical information or doing actions that compromise their personal or professional security. Deepfake and phishing will be used in these advanced attacks. Businesses should use AI detection software and refrain from signing up for unauthorized comparison apps or facial recognition to protect themselves from these scams. In terms of phishing, in 2023, there will be a greater focus on business collaboration tools. Organizations need robust security measures, such as user education and strong authentication, to stop these threats.

Also Read: Privileged Access Management helps prevent the cyberattacks cycle

Eric George, Director of Solutions Engineering, Digital Risk Management, and Email Security at Fortra says, “PaaS platforms simplify the creation and execution of credential theft phishing attacks which target the customers or employees of enterprise brands. These platforms cater to the lesser experienced threat actors and therefore have the potential to significantly expand the number of criminals conducting phishing attacks”.

Security Risks Will Increase with Economic Uncertainty

At the end of 2022, cybersecurity was largely exempt from the job losses that upended other areas of the tech industry. However, the new year may change that situation. Industry experts predict that a recession is likely to occur in 2023.

The risks that businesses confront will increase as a result of this geopolitical and economic uncertainty.

In order to address security issues and threats to company infrastructure and data during the course of the upcoming year, CISOs and other security professionals must reassess their strategies.

Tom Gorup, Vice President of Security Operations, Alert Logic by Fortra, says, “Security tools as standalone solutions are failing to enable businesses to effectively protect themselves. Tools that lack integrations offer complicated metrics and reporting and generate exorbitant volumes of alerts, incidents, and telemetry are complicating the lives of CISOs and their teams. Even with the grandiose promises of Artificial Intelligence and Machine Learning technologies designed to deliver increased efficiency and insight, security operations remain tough.

Economic downturns will exacerbate these problems as organizations seek to reduce their expenses and turn to more 3rd parties for help. Businesses will begin to better understand the value of Managed Detection and Response services which are purpose-built to standardize and solve these operational challenges.”

Also Read: The 2023 Cybersecurity Outlook – Addressing New and Bigger Threats

Cybersecurity Skills Shortage Will Continue 

Businesses continue to struggle with high turnover rates even though the cybersecurity skills gap is starting to level off. It can be difficult to find and retain good talent, and with budgets being tighter, there is only so much money and perks that can be offered to candidates. CISOs must address gaps in their organization’s culture if they want to prevent IT from being a revolving door.

“Demand for security will skyrocket in 2023 driven by an economic downturn, consumer expectations, and new compliance requirements. Meanwhile, the talent pool for addressing the demand will remain depleted. This mismatch of security expectations and lack of quality talent supply will drive businesses to seek out third parties to solve their problems. As a result, we will experience choice overload in the MDR, MSPs, and MSSPs spaces, seeking to fill the gaps for companies that don’t have the resources or in-house expertise to manage their own security challenges,” Tom Gorup adds.

The Way Forward

Threats and trends in cybersecurity will change as technology continues to advance. Businesses must constantly monitor emerging trends and update their security systems in order to stay ahead of the game. Businesses can ensure they are safe and secure by implementing critical measures and staying ahead of the trends. They should also make an effort to educate their employees on the value of adhering to cybersecurity best practices. This will lessen the likelihood of a breach and help build a secure environment.