A new year in technology often brings excitement for whatever is on the horizon: Are we going to have flying cars yet? Of course, along with the excitement of change come new threats to security that Detroit businesses must be aware of and prepared to handle. A proactive cyber security approach can help you sleep easier.
Threats are not only evolving, they’re also increasing: As of January 2022, 66% of small businesses have experienced a cyber attack in past 12 months. To keep up with the revolving door of these threats, cyber security is predicted to expand, becoming a more than $370 billion industry by 2026.
So, what do the imminent threats in this environment predict for the upcoming year, and what developments in cyber security might we expect in 2023? Below are trends to watch for, along with information on how you can avoid a cyberattack or breach of security that could impact your company’s bank accounts, productivity and reputation.
Artificial Intelligence’s Growing Potential
The importance of machine learning (ML) in cyber security is developing rapidly and becoming more predictive. Due to machine learning and computer-assisted security solutions, cybersecurity is becoming more effective and less expensive. ML can create patterns and manipulate them with algorithms based on a large dataset. This can be used to predict and respond to current assaults in real-time.
Artificial intelligence (AI) has played an important role in developing automated security systems, natural language processing, facial identification and autonomous threat detection. The downside is that it is also being taught to create malware and assaults that circumvent the most recent data security mechanisms. AI-powered threat detection systems can forecast new assaults and promptly inform your managed service provider of data breaches. We are just beginning to see the true potential of AI and how it might change cyber security.
Geo-targeted Phishing Threats
The Internet Crime Complaint Center has reported that phishing attacks continue to rise rapidly, with more than half of the complaints coming from victims who were phished for money.
The report also found that nearly 30 percent of incidents involved geo-targeted phishing threats, where the attacker knows they are targeting someone in a specific country or region.
Phishing trends continue to evolve as we see new methods popping up. This is something a proactive cyber security strategy will be on alert for in 2023.
Mobile Device Risks
Research shows that 6 out of 10 children are exposed to cyber threats through their mobile devices. With smartphones, tablets and mobile device usage exploding, hackers are finding it easy to target these devices — like taking candy from a baby.
Kids aren’t the only target, of course. A report by CheckPoint shows that mobile banking malware attacks have increased by more than 50 percent in the past three years.
Though mobile manufacturers like Apple prioritize safety in their devices, hackers have sophisticated tools to hop the gates of these inbuilt defenses. Due to the present era of accelerating digital transformation, hackers’ attack methods are becoming more inventive.
Easy and proactive cyber security measures everyone can adopt include when it comes to mobile devices:
- Keep mobile devices up to date with security patches. This will minimize the chances of a successful hack.
- Be cautious when connecting your mobile device to public Wi-Fi networks. This can be an easy entryway for hackers to steal valuable information from the device, including login credentials.
Making sure mobile devices are protected no longer lies solely on manufacturers but also on individuals and companies. This trend will continue in the coming years.
The internet of things (IoT) refers to the rapidly growing network of connected objects able to collect and exchange data using embedded sensors, such as Siri, Amazon and Alexa, and wearable devices like Fitbits. IoT devices and the market itself are growing rapidly. The more devices become connected, the more vulnerable they become.
According to Insider, 64 billion IoT devices will be installed across the globe by 2026. The more access to personal information one provides, the more ways a hacker can find ways to that information. These devices are not built to combat cyberattacks, so accelerations in IoT have become one of the top cybersecurity trends to watch out for in 2023.
Proactive Cyber Security Practices Like Pen-Testing
Another trend for companies to be aware of is adopting proactive cybersecurity measures such as penetration testing (pen-testing). Pen-testing is simply simulating an attack on your network to discover any cybersecurity vulnerabilities you may have.
It’s a proactive cyber security practice that helps identify and address risks, like a breach or cyber attack, before they become more serious. No matter how much defense a company has, it’s a better strategy to be proactive than reactive.
Many companies have set up teams to prevent cyber events and other attacks. However, some of these measures are not easily implemented, especially for small businesses. That’s where the help of a managed security service provider becomes invaluable.
The cybersecurity industry is witnessing the most growth in this sector as new companies are emerging that provide affordable cybersecurity services for entrepreneurs. Proactive cyber defense measures will continue expanding as a sector in cyber security even after 2023.
While preventing cyber security breaches is impossible, there are things organizations can take to mitigate their impact, especially as remote work becomes more of a norm. Allowing people to work from anywhere is desirable, but it also provides new ways for malicious actors to infiltrate your network.
Staff working from home can log in with personal devices that may not be as protected as a company-issued ones. Also, these devices can be more easily accessed by hackers who can use their computers as a route to your organization’s IT infrastructure.
Keeping tabs on these developments and potential threats will make managing your remote employees and protecting your company data easier.
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