Cybersecurity is a constantly evolving field with new threats, technologies, and opportunities emerging every year. During 2024, organisations need to be aware of current and future cyber threats. Businesses of all sizes and sectors should plan accordingly.
Staying ahead of the curve is paramount to safeguarding digital assets. Significant changes are coming to the cybersecurity landscape driven by emerging technologies, evolving threats and shifting global dynamics.
These are the key cybersecurity predictions for 2024 that you should consider.
1. AI Will Be a Double-edged Sword
Artificial intelligence (AI) has been a game-changer for cybersecurity. It has enabled faster and more accurate threat detection, response, and prevention. But AI also poses new risks such as adversarial AI, exploited vulnerabilities, and misinformation.
For example, malicious actors use chatbots and other large language models to generate:
- Convincing phishing emails
- Fake news articles
- Deepfake videos
This malicious content can deceive or manipulate users. Organisations will need to put in place robust security protocols including embracing a human-in-the-loop approach as well as regularly tracking and reviewing their AI systems. These steps will help mitigate these risks and harness the power of AI for a more secure future.
2. Quantum Computing Will Become a Looming Threat
Quantum computing is still a few years away from reaching its full potential, but it is already a serious threat to the security of current encryption standards.
Quantum computers can potentially break asymmetric encryption algorithms, which are widely used to protect data in transit and at rest. This means that quantum-enabled hackers could compromise sensitive data, like financial transactions.
Organisations will need to start preparing for this scenario by assessing their potential risks. Then, they should adopt quantum-resistant technologies and deploy quantum-safe architectures.
3. Hacktivism Will Rise in Prominence
Hacktivism is the use of hacking techniques to promote a political or social cause, such as exposing corruption, protesting injustice, or supporting a movement.
Hacktivism has been around for decades, but it’s expected to increase in 2024 particularly during major global events e.g. the Paris Olympics and the U.S. Presidential Election as well as specific geopolitical conflicts.
Hacktivists may target organisations that they perceive as adversaries or opponents, e.g. governments, corporations, or media outlets. These attacks can disrupt their operations as well as leak their data or deface their websites.
Organisations will need to be vigilant against potential hacktivist attacks. This includes being proactive in defending their networks, systems, and reputation.
4. Ransomware Will Remain a Persistent Threat
Ransomware is a type of malware that encrypts the victim’s data, and the attacker then demands a ransom for its decryption. Ransomware has been one of the most damaging types of cyberattacks in recent years.
In 2023, ransomware attacks increased by more than 95% over the prior year.
Ransomware attacks are likely to continue increasing in 2024 due to new variants, tactics, and targets emerging. For example, ransomware attackers may leverage AI to enhance their encryption algorithms, evade detection and customise their ransom demands.
Hackers may also target cloud services, IoT devices, or industrial control systems. This could cause more disruption and damage. Organisations will need to put in place comprehensive ransomware prevention and response strategies. Including:
- Backing up their data regularly
- Patching their systems promptly
- Using reliable email and DNS filtering solutions
- Educating their users on how to avoid phishing emails
5. Cyber Insurance Will Become More Influential
Cyber insurance covers the losses and liabilities resulting from cyberattacks. It has become more popular and important in recent years due to cyberattacks becoming more frequent and costly.
Cyber insurance can help organisations recover from cyber incidents faster and more effectively. It provides financial compensation, legal help, or technical support.
But cyber insurance can also influence the security practices of organisations. More cyber insurers may impose certain requirements or standards on their customers such as implementing specific security controls or frameworks. Organisations will need to balance the benefits and costs of cyber insurance as well as ensure that they are in compliance with their cyber insurers’ expectations.
Be Proactive About Cybersecurity – Schedule an Assessment
It’s clear that the cybersecurity landscape will continue to evolve rapidly. Organisations and individuals must proactively prepare for emerging threats. This includes adopting advanced technologies and prioritising workforce development as well as staying abreast of regulatory changes.
Put a comprehensive cybersecurity strategy in place – one that encompasses these predictions. This will help you navigate the digital frontier with resilience and vigilance.
Need help ensuring a secure and trustworthy digital environment for years to come? Contact us today to schedule a cybersecurity assessment.
Article published with permission from The Technology Press.