Cyber Security Trends to look out for

Source: https://www.forbes.com/sites/bernardmarr/2023/10/11/the-10-biggest-cyber-security-trends-in-2024-everyone-must-be-ready-for-now/?sh=4fe86c665f13

In 2024, the world faces a formidable challenge: cyber threats are escalating, and the global economy is expected to suffer a staggering cost of over $10.5 trillion due to cyberattacks. To address this critical issue, cybersecurity must take center stage at individual, organizational, and governmental levels. Artificial Intelligence (AI) is poised to transform the landscape of cyber warfare and defense, influencing each of the ten major trends we’ll discuss below.

The Cyber Security Skills Crunch: The scarcity of qualified cybersecurity professionals continues to plague 2024. The shortage remains a growing concern, with 54 percent of experts reporting worsened conditions in the past two years. Solutions include increasing salaries for skilled professionals and investing in training programs.

Generative AI Adopted On Both Sides Of The Battle: AI’s rapid advancement introduces more sophisticated, AI-driven attacks, as well as smarter defense strategies. AI enables real-time anomaly detection, smart authentication, and automated incident responses, significantly impacting the cyber threat landscape.

Next-Level Phishing Attacks: Social engineering attacks, using tools like generative AI, are growing increasingly sophisticated. Deepfake attacks are on the rise, emphasizing the need for organization-wide awareness, education, and AI-driven zero-trust security measures.

Cyber Security In The Board Room: Cybersecurity has evolved into a strategic priority and should no longer be confined to IT departments. By 2026, Gartner predicts that 70 percent of boards will have cybersecurity experts, enabling proactive defense and seizing new business opportunities.

IoT Cyber Attacks: With the expansion of IoT devices, there’s an increased risk for cyberattacks, especially as remote work continues. Cybersecurity weaknesses in home consumer IoT devices remain a concern. However, changes are underway in the industry’s approach to IoT security.

Cyber Resilience – Beyond Cyber Security: The distinction between cybersecurity and cyber resilience becomes vital. While cybersecurity aims to prevent attacks, resilience focuses on maintaining operations even after a successful breach. Developing agile recovery strategies with minimal data loss and downtime is a priority.

Less Than Zero Trust: Zero trust evolves as security integrates into business strategies, moving from a network security model to a holistic approach. Continuous AI-powered real-time authentication and activity monitoring become pivotal in 2024.

Cyber Warfare And State-Sponsored Cyber Attacks: Cyber warfare becomes intertwined with military operations worldwide, exemplified by the ongoing conflict in Ukraine. Expect cyberattacks targeting infrastructure, elections, and public services, demanding advanced defense strategies.

Soft Skills Becoming Increasingly Essential: Cybersecurity professionals face more complex responsibilities, extending beyond technical tasks to include social and cultural aspects of threat mitigation. This shift necessitates enhanced soft skills, such as communication, relationship-building, and problem-solving.

Cyber Security Regulation: Governments and organizations recognize the risks posed by cyber threats and are implementing new regulations. Compliance with security standards, like the Product Security and Telecommunications Act in the UK, is becoming mandatory, pushing businesses to enhance their cybersecurity measures.

CSG Technologies offers dedicated monitoring teams and unique monitoring solutions to your organization. With the increasing complexity of cyber threats and the need for proactive cybersecurity measures, partnering with CSG can ensure that your organization is well-prepared for the evolving landscape of cybersecurity in 2024. Our expertise, advanced tools, and holistic approach to security align perfectly with the emerging trends discussed, helping you stay ahead of potential threats and secure your digital assets effectively.