As technology progresses, threat actors continually adapt their tactics. What considerations should your cybersecurity team prioritize to effectively address the evolving cyber landscape in 2024?
The year ahead will be a crucial one in the realm of cybersecurity, with the emergence of new trends that will revolutionize the way organizations shore up their defense.
Let’s have a look at some emerging cybersecurity trends in 2024.
1. C-suite will work more closely together
As the frequency and sophistication of cyber-attacks continue to escalate, the C-suite is expected to become increasingly engaged in cyber risk-related decisions. Boards, under heightened executive accountability and potential fines, are anticipated to focus on cybersecurity regularly. Actions such as creating dedicated cybersecurity committees, engaging external advisors, and requesting regular reports from CISOs are on the horizon. Legislative changes will influence decisions about investing in security access management, cloud security, and data security. The role of the Chief Information Security Officer (CISO) is evolving from a technocrat mindset to a strategic decision-maker, reporting to the board and contributing to cybersecurity-enabled competitive advantage. Dedicated cyber committees within boards and specific C-suite cyber performance metrics are expected to become standard, accompanied by an increased emphasis on cybersecurity education and training programs.
The evolving dynamic between Chief Information Security Officers (CISOs) and Chief Information Officers (CIOs) takes center stage in 2024. The traditional misalignment between the security policy formation by CISOs and its enforcement by CIOs, often exacerbated by conflicting budgetary needs which result in project delays and budget overruns, is poised to change. In technology-first and cloud-first companies, process automation projects are anticipated to facilitate better alignment by integrating security into IT and business processes. The cloud, a driving force behind automation projects, is seen as a critical frontier for fostering collaboration between CISOs and CIOs. Failure to achieve alignment may have repercussions in 2025, emphasizing the need for strategic collaboration in addressing cybersecurity challenges.
2. Ransomware attacks are expected to surge
Ransomware, after a brief respite, is making a strong comeback as a predominant threat. Researchers emphasize that these attacks are not only regaining their previous frequency but also evolving in sophistication. In 2024, ransomware groups are expected to target third-party tools and software providers with vulnerabilities. This strategy enables them to compromise multiple targets simultaneously, highlighting the need for heightened vigilance.
Despite nations pledging not to pay ransoms, organizations of all sizes are expected to continue making payments, underscoring the significance of data as the most sought-after resource for ransomware groups. As identities face increasing risks, cyber spending is poised to reflect this reality, with a heightened focus on Identity and Access Management (IAM) tools. Organizations should gear up for an intensified wave, implementing robust backup and recovery strategies and enhancing threat detection capabilities.
3. Collaboration Between DevOps and DevSecOps will Increase
The cybersecurity landscape within the application programming interface (API) market is poised for transformative trends in 2024. The emphasis on pre-production testing and security integration is expected to necessitate increased collaboration between DevOps and DevSecOps. Cybersecurity professionals will need to adapt to vulnerabilities at the earliest stages of development, requiring a proactive approach to security. The growing reliance on automation presents both opportunities and challenges, promising faster code-writing and shipping processes while demanding efficient security assessments for untested APIs.
The strengthened collaboration between DevOps and DevSecOps is indicative of the need for closer cooperation between cybersecurity professionals and software engineers. This collaboration aims to ensure faster and more secure software development processes.
4. Generative AI will pose a growing threat, but defenders will use it too
Generative AI and machine learning are escalating the frequency and complexity of cyber-attacks, introducing new challenges for companies. This technology empowers cybercriminals to execute sophisticated and stealthy attacks, such as Deep Fake and self-
evolving malware, posing significant threats to systems. To counter these advanced threats, enterprises must employ AI-driven cybersecurity solutions. Generative AI has the potential to transform the industry by automating configuration hardening, enhancing compliance, addressing micro-segmentation challenges, and fine-tuning access privileges. This technology can improve security operations by identifying false positives, detecting advanced attacks like DNS tunneling, and discovering new threat samples using deep learning models.
As Generative AI becomes more accessible, cloud-based attacks are expected to rise. Offensive security strategies, including continuous threat exposure management and breach and attack simulation, will evolve to adapt to the changing risk landscape. Additionally, malicious actors will leverage AI to conduct intelligent and personalized phishing campaigns, making social engineering attacks more sophisticated. Companies are urged to adopt centralized visibility dashboards, cyber insurance, and real-time threat monitoring to enhance their cyber resilience against generative AI threats.
5. Small and Midsize Businesses Will Continue to Implement Emerging Tech
Small and Midsize Businesses (SMBs) face three major cybersecurity challenges, a) financial motivations for cyberattacks, b) increased targeting of individuals through mobile devices, and c) vulnerabilities arising from the failure to implement new technologies and cybersecurity training.
The future of cybersecurity for SMBs involves the continued implementation of emerging technologies, particularly AI, to enhance fraud management, supply chain operations, and order processing. Bandwidth upgrades, coupled with updated security patches, are essential elements for SMBs adapting to evolving work styles, especially with the persistent trend of remote work.
6. Talent Gaps Continue to Widen
The cybersecurity industry, according to the (ISC)² Cybersecurity Workforce Study, faces a severe talent shortage, with a global need for more than 2.7 million cyber professionals. To counter this challenge, companies are urged to consider innovative hiring strategies. Options range from recruiting in-house specialists to outsourcing resources including consulting firms and cloud providers. In cases where immediate hiring isn't feasible, opting for a managed security services provider is considered as a practical solution. This partner can implement and operate a unified security platform, utilizing automated processes to enhance defenses against advanced threats and offering comprehensive visibility into the enterprise's security posture.
To Sum Up!
As we've explored the top cybersecurity trends and predictions for 2024, it's clear that the digital landscape is evolving rapidly, bringing new challenges and necessitating stronger defenses. If you are looking for those stronger cybersecurity services/solutions, reach out to us at info.gramax@gmrgroup.in