The emergence of generative AI heightened concerns about its potential malicious use by attackers. Over the past year, ransomware attacks continued to surge, often involving double and triple extortion tactics.
Here are some threats, tech trends, and regulatory challenges that are most likely to occur, highlighting the concerns for cybersecurity needs ahead.
1. Rise in Zero-Day Vulnerabilities Exploited for Extortion Attacks
You can expect an increase in zero-day vulnerabilities exploited by attackers to target multiple organizations simultaneously. In recent times, Malware groups have demonstrated the effectiveness of leveraging a single vulnerability across various targets, as seen in the MoveIt Transfer attacks.
2. Impact of Generative AI on Email Security
Generative AI, which gained prominence in 2023, will likely reshape email security dynamics. Attackers will increasingly utilize generative AI to craft convincing phishing emails, posing as high-level executives or decision-makers, thereby intensifying social engineering threats.
3. Accelerated Adoption of Password-less Authentication
The new year 2024 may witness the widespread adoption of passwordless authentication, with biometrics emerging as the favored modality. Biometric authentication offers robust security features compared to traditional methods like SMS or email-based passcodes.
4. Enhanced Collaboration Among CSOs, CISOs, and CEOs
Economic uncertainties will drive closer collaboration between Chief Security Officers (CSOs), Chief Information Security Officers (CISOs), and Chief Executive Officers (CEOs) in allocating security budgets effectively. The need for cybersecurity solution can foster collaborations by prioritizing risk management, ensuring protection for both physical and digital
This collaboration aims to prioritize risk management and ensure comprehensive protection for both physical and digital assets.
5. Surge in Identity Verification Solutions
Anticipate broader adoption of identity verification solutions in 2024 to authenticate employees, partners, and customers accurately. With advancements in AI, identity verification tools can bolster account security by detecting impersonation attempts and ensuring document authenticity.
6. Emphasis on Proactive Security Measures
Organizations will invest more in proactive security tools to proactively detect vulnerabilities and fortify their defenses. Technologies such as risk-based vulnerability management and attack surface management will help organizations optimize their security investments.
7. Regulatory Scrutiny on IoT and Embedded Devices
Regulatory scrutiny on IoT and embedded devices is expected to intensify amidst increasing cybersecurity threats. Organizations will face pressure to adhere to cybersecurity-by-design standards to mitigate risks associated with outdated software and vulnerabilities.
8. Persistent Challenges with Third-Party Security
The risk posed by third-party security breaches remains a concern, as attackers target vendors and partners to gain access to larger networks. Organizations must implement stringent security measures, such as vendor security evaluations and compliance checks, to mitigate third-party risks effectively.
Finally, it’s important for organizations to remain vigilant and adaptive to emerging threats and regulatory requirements.
