In 2023, cybersecurity is a critical area of focus for businesses and organizations as technology evolves and the threat of cyberattacks becomes more prevalent.
Cybersecurity professionals are burdened with data breaches, ransomware attacks, phishing scams, and real-world threats from the Russia-Ukraine conflict. There is also a significant rise in hacktivism and distributed denial-of-service (DDOs) attacks. In fact, according to the 2022 H1 Global Threat Analysis Report, there were 60% more malicious events during the first months of 2022 than the entire year of 2021.
It can be challenging to predict what 2023 will bring to businesses worldwide in terms of cybercrime. This guide will explore several key trends that are expected to shape the cyber security landscape in 2023.
Increased IoT vulnerabilities
The Internet of Things (IoT) remains a vital business investment, enabling companies to embrace automation and reduce operational costs. But according to Claroty research, IoT disclosures increased by 57% in the first half of 2022 compared to the previous six months.
While IoT devices have the potential to increase efficiency and productivity, they also come with a range of security challenges, which will expand in the upcoming years. As such, companies investing in this technology must ensure their devices are fully secured.
The rise of automotive hacking
Today’s modern vehicles come packed with numerous technologies designed for the comfort of their passengers─including engine timing, modern door locks, and advanced systems for driver assistance.
But these vehicles use Bluetooth and WiFi to ensure seamless connections within their programs. These solutions create potential hacking opportunities for cybercriminals. Fortunately, as new security vulnerabilities are being discovered in vehicles, automotive hacking will significantly increase in 2023.
Greater privacy and security regulations
Gartner predicted that by 2023, 65% of the world’s population will have its personal data covered under modern privacy regulations. With the increasing threat of cyberattacks, it is no surprise that governments are improving their efforts to optimize security.
Companies must prepare for new SEC regulations, on cybersecurity, risk management, strategy, governance, and incident disclosure. They should also consider the new security policies, standards, and practices that were introduced by at least 40 U.S. states in 2022─and the ones that will follow.
Zero-Trust is replacing VPN
In the following years, remote workspaces will most likely remain a core part of the modern business model.
Unfortunately, this trend comes with a different set of security challenges threatening a company’s resilience and sustainability. That’s because the technology being used to protect remote work, virtual private networks (VPNs) is prone to cyberattacks and vulnerabilities.
To counter these risks, organizations are increasingly adopting Zero-Trust strategies. These strategies create an environment where users are continuously verified and identified through multiple authentication methods.
Targeted ransomware on healthcare organizations
Ransomware is common in the healthcare industry. An Emsisoft report confirms ransomware targeted 24 hospitals and multi-hospital health systems in 2022.
The Wanna Cry cyberattack corrupted more than 70,000 medical devices in the National Health Service hospitals from England and Scotland. Furthermore, at the end of the last year, the LockBit ransomware organization confirmed they attacked the SickKids hospital─leading to delays in lab results and longer wait times for patients.
Threat detection and response tools and becoming the norm
Endpoint detection and response (EDR), extended detection and response (XDR), and managed detection and response (MDR) are becoming an essential investment for companies seeking to supercharge their security.
With cyberattacks becoming a matter of “when” rather than “if”, Gartner predicts that the market for EDR and MDR will significantly increase in the following years.
Therefore, investing in these evolving technologies can help businesses worldwide effectively safeguard their assets against cybercrime risks.
Cloud security
As businesses shift to cloud computing, cloud security will also be a major cause of concern for many modern enterprises.
Unfortunately, this widespread adoption creates new opportunities for cybercriminals to target a larger variety of organizations. With new security challenges, businesses must assess their cloud weaknesses and adopt tools to reduce threat risks, protect their sensitive data, and prevent cyberattacks.
Artificial Intelligence (AI)
Artificial intelligence (AI) is expected to play a larger role in detecting and preventing ever-evolving cyber threats. In fact, AI algorithms will be integrated into security operations centers to provide real-time analysis of potential threats, allowing for quicker response times and reduced risk of data breaches.
Conclusion
In conclusion, 2023 is expected to be a year of significant change for cybersecurity professionals. The adoption of AI, cloud computing, and the increasing number of connected devices will bring new security pain points. Organizations must adopt modern solutions to stay ahead of the curve and increase their sustainability and resilience.