2024 Cybersecurity Trends from Expert Perspective

The cybersecurity landscape is ever-evolving. More organizations continue to invest in technology to operate their businesses. They pile more systems into their IT networks to support remote work and enhance customer experience. However, all of this creates potential vulnerabilities.

In 2022 alone, the number of cyberattacks, data breaches, and phishing scams has become a record-breaker. It's easy to imagine that these will remain trends in 2023. However, other factors and developments will also penetrate an unsecured cybersecurity ecosystem.

Here are cybersecurity trends to look out for in 2023 from an expert's perspective.

Ransomware Attacks on The Rise

With over 493.33 million attacks detected worldwide, ransomware has been a major threat to businesses and individuals since the mid-2000s

According to Charlie Wright, Operation Director of Epos Now:

“Ransomware continues to evolve, with more sophisticated techniques and targeted attacks. Organizations must invest in robust security measures and educate employees about phishing attempts and safe online practices.”

Organizations must invest in robust security measures like ASM and educate employees about phishing attempts and safe online practices. This way, it will be easier to look at the threats from the outside of the network looking in. 

Emerging Threat of AI-Powered Cyberattacks

With hybrid work setups and AI (Artificial Intelligence) getting more powerful than ever, the risk of cyberattacks remains ultra-high. Digital Marketing Strategist of Diviflash, Nazmul Asif, notes, "AI-powered attacks are already being seen in the wild and will only become more common in the future.”

For example, AI-driven bots can be a tool to activate phishing attacks, targeting many victims at once with personalized approaches. These malicious bots can dissect social media profiles and other online data to produce messages that appear legitimate and are more likely to be clicked.

Growing Trend on Zero Trust Networks

One of the most significant developments in cybersecurity in 2023 is the Zero Trust Architecture. In the simplest sense, ZTA is "don't trust anyone and anything."

Eric Dalius, Chairman of MuzicSwipe, adds:

“One of the most important developments in cybersecurity in 2023 is the growing importance of Zero Trust. In 2022, Zero Trust Architecture (ZTA) was more than a fad or optional safety feature. More and more organizations are adopting this strategy, making it a cybersecurity best practice. 

As businesses face more and more cyber dangers, zero trust is gaining traction. More and more businesses embracing zero-trust policies should mean more and better products in the future. We predict that many companies will allocate substantial resources toward ZTA.”

According to Dalius, there are many approaches to achieving Zero Trust strategy:

• Third-Party Authentication

The confidence from a third-party validation cannot be overdrawn. Even the most protected organizations can benefit from an extra review. It prevents threats such as Tailgating, which can cost an average of $4.35 million. 

Organizations and businesses should adhere to the following frameworks and standards for additional security: 

• SSAE16
• HITRUST
• HIPAA
• GDPR
• ITIL

• Network Separation

Segregation of the network is a method that uses various types of access controls to authorize connections across smaller networks. Without network separation, an attacker could quickly move to other devices on your network without being stopped by security policies.

• Constant User Activity Tracking

Tracking user activity ensures that an organization's system remains protected by tightening its security concerns. This method safeguards the organization from network intrusion, sensitive information theft, and other threats.

Increasing Sabotage from Within

Cyber sabotage is another wrinkle in the emerging threats from cyberspace. 

As the Founder of SparkAven, Noah Clark, reports:

“Insider [threats] have caused a 34% increase in cost over the past two years, from $11.45 million to $15.38 million. In addition, the number of incidents caused by insiders rose by 44% in those years. 

In 2023, the pattern [persists]. As hybrid work steups become more standard, the risk of insider assaults will rise. Insider attacks will become increasingly precise, whether due to corporate espionage, malice, or social engineering.”

Clark also added that there are many reasons why insider assaults occur. Some of them are:

1. Errors in authentication and authorization
2. Inadequate security
3. Errors caused by humans
4. Keeping information on unsecured media
5. Problems with insecure mobile device use

As of May 2023, US businesses reported an average of 2,200 internal security breaches daily. 

Stricter Privacy Regulations and Data Protection

For organizations in regulated industries, it's all about risk mitigation. This includes policy-based compliance and audit management, automated to scale and control the cost of oversight and governance.

Moreover, Lolly’s Managing Partner, Daniel Cooper, emphasizes that:

“With increasing concerns about data privacy, governments and organizations are tightening regulations. [Look] for new data protection laws, like stricter data handling requirements and increased user consent. It's like [locking] every digital file cabinet to safeguard personal information.”

Domination of Social Engineering Attacks

In Leo Ye’s words, the founder and CEO of Cubo:

“[Social engineering attacks] manipulate people to access systems or obtain sensitive data without authorization. Phishing is a method where attackers send fraudulent emails or messages to deceive users into disclosing credentials or clicking on harmful links. This technique is still a danger.”

Ye states that attackers use another strategy called pretexting. This method “[fabricates] a justification to persuade targets to reveal sensitive information. These assaults prey on human weaknesses and frequently target workers or those accessing essential data,” the CEO adds.

Ye suggests organizations invest in comprehensive security awareness initiatives and use multi-factor authentication to lower the chance of successful attacks.

Worrying Rise of Deep Fakes

Deepfake fraud has been making headlines in the past year. “Organizations should be aware of the growing threat of deep fakes by the latter half of 2023,” Gagan Saini, Director of Acquisitions at JiT Home Buyers, writes.

Saini describes deepfakes as “AI-generated videos or images designed to look like real people and can be used to spread false information or impersonate someone else.” As AI technology improves, deep fakes become increasingly realistic and challenging to detect.

The director also warns organizations about the “potential for AI-generated images to perpetuate existing biases and discrimination and for AI-generated photos to be used maliciously.”

Extended Role of AI and Machine Learning in Cybersecurity

AI cybersecurity, with the help of machine learning, is set to be a powerful mechanism in the looming future.

TechAhead’s Chief Commercial Officer, Shanal Aggarwal, explains:

“Large volumes of data can be analyzed using AI and ML to find patterns that might point to a cyberattack. They can also automate processes like patch management and vulnerability scanning. Powerful capabilities like AI and ML can assist enterprises in strengthening their cybersecurity posture.”

However, Aggarwal says, "ML and AI are not a panacea.” While these technologies can detect risks and automate tasks, they can’t replace the human mind.

Heightened Cybersecurity Implications of ChatGPT

When OpenAI launched ChatGPT in 2022, over 100 million users were mystified by its capabilities. However, many are concerned about the tool’s potential to advance bad actors’ agendas. 

As Aaron Drapkin, a Lead Writer of Tech.co describes:

“ChatGPT can generate articulate, mistake-free email copy on any subject in seconds. It costs nothing to use, so it's accessible to everyone. This is a problem because one of the telltale signs that a phishing email is a scam has been spelling and grammar issues contained within the copy.”

While ChatGPT is a wizard at generating codes and will instantly inform the user if a hacking code is requested, manipulation is still possible. With enough creative poking, bad actors can easily trick the AI into generating code.

Takeaway

Digital turmoil is inescapable and will lead to rapid technology-driven shifts. Knowing the associated cyber risks is important as organizations invest in technology. Attackers are exploiting the vulnerabilities that new technologies introduce. 

Even the best cyber-controls become outdated in this accelerating digital world. That said, organizations that seek to position themselves for the next five years must take a rigid and proactive method to build defensive capabilities.