- As 2023 ends, cybersecurity threats have evolved quickly as hackers compete to outwit one another.
- In 2024, cybersecurity risks will be more substantial than ever as firms become the prime target of daily cyberattacks.
The cybersecurity environment has changed due to digital business and hybrid workspaces. As per a recent report by PwC, “2024 Global Digital Trust Insights,”
- 44% report using an integrated suite of cyber tech solutions.
- 39% plan to move to one in the next two years.
- Nearly one-fifth — 19% — say they have too many cyber solutions and need consolidation.
No one can predict how cybersecurity will evolve since it is continuously changing. But some trends are becoming more apparent in the near future. Hence, redefining security procedures, reconsidering technology, and preparing for new threats is important.
Three new trends will transform the cybersecurity landscape in 2024
1. AI will Boost Cybersecurity and Cyber Threats
ML applications are becoming more proactive in cybersecurity. Thanks to these tools, cybersecurity is becoming more effective and less expensive. Using algorithms, ML makes patterns from a vast dataset. This allows firms to predict and address attacks in real-time.
In 2024, AI will greatly benefit from building automated security systems, facial identification, and autonomous threat detection. Threat detection systems with AI capabilities can help predict new attacks and alert admins about them.
But on the other hand, hackers also have access to AI and LLMs. In 2024, they will use the power of AI to enhance their threat capabilities. It will help them create smart malware and attacks that can easily bypass the most advanced data security mechanisms.
PwC’s report also states that-
- 69% say they will use GenAl for cyber defense in the next 12 months.
- 47% already use it for cyber risk detection and mitigation.
- 21% already see benefits to their cyber programs because of GenAl – mere months after its public debut.
For better or worse, AI has dominated 2023 and will continue to offer immense benefits and possibilities in 2024.
Therefore, firms must develop policies to prevent risks of data leaks and unethical AI use.
2. Attack Surfaces Will Blow Up
Hackers expand their capabilities as AI adoption grows, exploding the attack surfaces rapidly. Hackers will target new and formerly overlooked tech to exploit gaps in API, cloud, edge, and OT resources in 2024.
APIs facilitate automated and regularly trusted connections between applications and resources. Ransomware will still be a dominant threat in the minds of security teams. However, API security preparedness and threats will gain momentum in the coming year.
Moreover, the rise in cloud adoption will expand the attack surface, enabling hackers to attack cloud resources. One of the top cyber threats over the next 12 months will be Cloud-related threats (47%), as per PwC’s report. The report also states a firm’s tech capabilities in key cybersecurity areas- Networking / Firewall / VPN Technologies (56%) and Cloud security (53%).
Hence, firms must deploy robust cloud security tools and implement best practices. With their new interfaces, APIs, and communication channels, cloud services offer additional targets for attackers.
3. Supply Chain Disruptions and Using Mobile Devices as a Target
Attacks on supply chains are becoming increasingly popular among hackers. According to Gartner’s “Top Trends in Cybersecurity 2022,” 45% of firms worldwide will have experienced attacks on their software supply chains, a three-fold increase from 2021.
Synk’s “2023 Software Supply Chain Attack Report” states that the global cost of software supply chain attacks will reach nearly USD 138 billion by 2031, up from USD 60 billion in 2025.
Hackers know that third-party software used by big companies is less secure. They also know that third-party software can be easily exploited to access bigger brands.
Two of the most significant attacks in recent years are the Solar Wind attack and the Kaseya Ransomware incident, where hackers employed a third-party software channel to infiltrate business systems.
Also Read: Five Ways Medium Small Businesses Can Strengthen Their Cybersecurity Landscape
As per a recent report by Statista, “Number of smartphone users worldwide from 2013 to 2028,”
- The global number of smartphone users was forecasted to continuously increase between 2024 and 2028 by a total of 496.7 million users (+10.71 percent).
- After the fifth consecutive increasing year, the smartphone user base is estimated to reach 5.1 billion users and, therefore, a new peak in 2028.
Due to this, firms have created websites or applications that work on these devices. As a result, hackers attempt to access data from mobile devices.
Nobody can predict where cybercrime and security will go since they are always changing and evolving. In 2024, firms must always work towards predicting the next move of cyber-attackers and develop systems and apps that are less susceptible to attack.
Conclusion
While the level of impact caused by these trends cannot be guaranteed, they can pose issues for many organizations in 2024. Hence, it is essential to analyze each trend’s specific risk to the organization and its assets. With infrastructure security being a significant aspect, it is necessary to gear up the cybersecurity game by securing data, running risk analysis and mitigation, and architecting cloud-based security.
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