The security issues that are present today still need to be resolved. But there are also new challenges because of advancing technology and a rapidly evolving global environment.
With cybercriminals constantly evolving their attack strategies and techniques, ransomware has been a significant problem for cybersecurity for years and doesn’t seem to be going away anytime soon. And a sizable portion of business networks continues to be vulnerable, often as a result of security flaws for which patches have been there for a while.
But even if organizations believe they are updated on every software flaw in their network, new security vulnerabilities are always emerging – and some can be very damaging.
Security Skills Gaps
There simply aren’t enough resources to go around due to the high demand for cybersecurity skills in the industry.
Brian Martin, Head – Product, Strategy, and Innovation at Integrity360, “What will change moving forward is accepting the next generation of cyber security resources. With over three million unfilled vacancies in the industry, organizations today need to think beyond the traditional model of what constitutes a cybersecurity resource.
Whether that be a resource that’s technically focused or one that’s more human-focused and collaborative, it’s important to realize that not all skills fit the same profile. As is the recognition and acceptance that talent can be found in more readily transferable and cross-trainable industries.
Also Read: Three Key Areas in Enterprise Cybersecurity to Focus on Before Entering 2023
On a similar note, organizations will need to be more diverse and shun the unconscious bias in terms of what represents a cybersecurity resource, which historically may have erroneously excluded suitable profiles based on age, gender, or background. Intelligent outsourcing and partnering with third-party experts can also provide relief to overstretched in-house teams.”
Bigger and Newer Threats to the Supply Chain
International espionage and other efforts have long used cyberspace as a platform, but the current geopolitical situation is posing new threats. However, hostile states aren’t just looking to disrupt businesses with cyber-attacks only in war zones; they are also increasingly targeting companies, particularly those with critical supply chains.
Nation-state supply chain attacks during the past couple of years have made everyone consider the threat to the supply chain. In addition to thinking about how to stop cyber-attacks, businesses also need to consider how to detect malicious network intrusions and respond to them.
IoT and Web3
In 2023, as new technologies like the Internet of Things (IoT) and Web3 continue to advance, they’ll become an even bigger target for threat actors and cyber-attacks because just because something is new doesn’t mean it’s necessarily secure.
However, security is frequently overlooked as software development hurries to release products and services, just like with any new technology, especially one that generates a lot of excitement and hype. This is evidenced by a number of hacks against cryptocurrency exchanges, in which attackers have stolen cryptocurrency worth millions of dollars.
When it comes to new technologies, everyone, in their haste to implement it, overlooks the security weaknesses. Currently, Web3 is in that kind of situation where businesses are eager to get started, but security is neglected. Bug bounty hunters are discovering several vulnerabilities in Web3 services and applications as a result. They often involve significant flaws that, if discovered by threat actors, can be damaging to businesses.
Therefore, even though new vulnerabilities are a concern, implementing effective cybersecurity practices can help prevent Web3 breaches, especially as the technology becomes more widely used and, thus, a more desirable target for cybercriminals.
Also Read: Ascending Cybersecurity Due to Skill Shortage
Future Outlook
Security must be taken seriously, and it must have a seat at the table. However, businesses must strategically consider how to mitigate risks, given the importance of these new and innovative devices.
While cybersecurity and budgets for it still require more attention, overall, things are going in the right direction. There is a growing understanding that there is a significant and widespread risk out there. The threat is real, significant, and only going to get worse as the world continues to go through a digital transformation.
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