The big CyberSecurity trends every CISO should have their eye on in 2023
Over the past few years, Cyber Security has transitioned from sole preserve of the IT crowd to boardroom agenda. But, despite more organisations waking up to the fact that Cyber Security is a business priority, each year the landscape worsens.
The latest statistics show that cyber crime in the UK is up by an alarming 40% compared to 2020. And since 2001, the global cybercrime victim count has increased by 1517%.
The reality is that although more is being done to combat cyber crime, it’s nowhere near enough.
With ransomware damages expected to reach over $30 billion in 2023, and the relentless shift to cloud computing – it’s never been more crucial to strengthen your organisation’s security. Here’s what you should have your eye on in 2023…
API security will become a top priority
With more companies moving to an API-first approach, the potential for serious API security breaches will increase in 2023. This means API security will move further up the priority list for CISOs, encouraging businesses to adopt appropriate security measures.
Authentication and authorisation, endpoint protection tools, rate limits, and setting limits for the number of times an API can be called, can all help to mitigate the threat of spikes and DDoS attacks.
Endpoints will be rebuilt with EDR
You only have to look at ransomware and malware attacks to see why endpoints are fundamental to securing your business.
More and more often, attackers compromise various endpoints; backups, multiple nodes, and services before they actually attack – so that by the time they attack, they’ve already penetrated your systems in multiple areas.
That’s why you can expect to see more organisations rebuilding their endpoints using EDR solutions, as well as single sign ons with MFA protection.
Greater focus on people and culture
The figures don’t lie. More than 90% of security breaches come from human error within your organisation. Phishing attacks, for example, rely exclusively on manipulation of employees.
Currently, 50% of employees lack even basic cyber security skills, like the safe use of passwords and understanding two-factor authentication. That’s why more businesses are recognising the importance of developing a culture of cyber security. By placing cyber security at the core of your business, employees are much more likely to get on board and actually use the skills you teach them.
The AI arms race will intensify
With the AI market set to reach around $139 billion by 2023, could this be the year machine learning and automation transforms cyber security?
AI algorithms far exceed human capabilities; they're able to analyse vast amounts of data moving across networks in real time and detect threat patterns or anomalies. And it makes a huge difference; a recent report from IBM shows that companies using AI and automation to detect and respond to data breaches save an average of $3 million compared to those that don’t.
But AI is also of great interest to the opposition. Increasingly, hackers are using machine learning algorithms to identify weak security systems, create large numbers of personalised phishing emails, and even clone the voices of executives to fraudulently authorise transactions.
That’s why the quest for the most sophisticated AI is referred to as an ‘arms race’; it’s an invaluable weapon for hackers and cyber security leaders alike. And as AI grows more readily available, you can expect the race to intensify considerably in 2023.
Want to stay five steps ahead of cyber criminals in 2023? Join us for a workshop day or one of our expert-led Cyber Security Leader dinners. Drop us a line or click here to find out more.
