By Anas Baig, product manager and cyber security expert with Securiti.
As data sharing becomes routine in business settings, companies need to reinforce their cyber security measures. So far, the cyber security industry has a market value of over $150.37 billion, with key growth triggers being IoT technologies, e-commerce platforms, smart devices, and cloud solutions. Every business needs to know about the latest cyber security threats, technologies, and trends to stay in sync with the industry’s fast-paced evolution and growth.
9 top cyber security trends of 2023
Familiarize yourself with the latest cyber security technologies to protect your business from digital threats. You need to know the newest cyber security measures that your competitors implement in order to stay afloat and thrive. Whether you’re a small or established business, these are nine top cyber security trends to watch in 2023.
1. AI-written malware
With ChatGPT and other AI-powered tools surfacing, infosec experts are liable to face a difficult time keeping their infrastructure secure. The chatbot from OpenAI is capable of writing code that will access (and destroy) networks, software, data, and hardware.
2. Cyber security talent shortage
According to a 2022 cyber security study, the cyber security workforce reached its highest growth rate, exceeding 4.7 million workers that year. The same study confirmed that the industry still had a workforce deficiency of 3.4 million people. The talent shortage is primarily associated with lack of interest in cyber security courses.
3. Machine learning and artificial intelligence
Machine learning and artificial intelligence are essential assets for enhancing cyber security. The two smart technologies use intelligence-fueled algorithms from past datasets and statistical analyses to evaluate and measure future behaviors. Companies use this technology to pinpoint and respond to cyber crimes in real time, reduce data breach risks, and improve business security. These technologies are also crucial for automating security processes and consequently, reducing the IT team’s workload.
4. Zero trust architecture
Another notable cyber security trend of 2023 is zero trust architecture. This technology relies on the basis that each app, user, and device on a network poses a certain scope of risk. In zero trust architecture, all devices and users have to adhere to strict authentication. The adoption of zero trust architecture is increasing this year, with rapid growth expected in the next decade.
5. Cloud security
The popularity of cloud computing keeps growing every other day, but the technology has come with its share of security threats. As more businesses transfer their company apps and data online, the demand for robust cloud-based security measures keeps increasing. Similarly, as more people work online, the demand for stricter cloud security measures has never been higher.
6. Cyber insurance
As cyber security threats intensify, more businesses opt for cyber insurance to curb and mitigate potentially disastrous effects. Cyber insurance adoption rates are also expected to grow as time goes by, with more companies investing in plans providing more extensive coverage, depending on the size and value of their businesses. These policies are one effective way companies can safeguard their properties and assets from the financial consequences of cyber attacks. However, insurance providers will use stricter approaches to evaluate the eligibility of firms seeking to obtain cyber security policies.
7. Multi factor authentication exploits
Previously, multi factor authentication earned the reputation of being the most secure identity management solution, offering a top-notch improvement over traditional passwords. Sadly, recent years have seen a rising trend among cyber attackers using MFA fatigue tactics and bypassing renowned anti-social engineering and anti-phishing technologies. With recent successful multi factor authentication exploits, we expect the trend to continue.
8. Stricter government regulations
Last year, the public saw a variety of cyber security failures, including multiple data breaches and fake apps on Google Play. All these incidents affected the industry significantly, putting private enterprises and government agencies on alert.
We will likely see the placement of stricter regulations on tech companies to boost security and protect investors and users. What else is on the horizon? A more comprehensive and robust digital framework.
9. Improved program and certification delivery
Organizations have integrated cyber security awareness courses into their training programs. They have invested many resources in limiting the cyber security threats associated with modern-day business settings. However, many businesses have complained about not seeing positive returns from these courses.
Learning institutions will also be improving how they deliver cyber security education and certification programs. Expect an increase in upskilled CISOs, more engaging courses, and better career paths. These will help assuage the second trend we mentioned related to the cyber security talent shortage.
Conclusion
Cyber security is a broad and crucial topic. Every company with an online presence should make it a priority. Whether you run a small online store or have a multi-million dollar business, you need to understand foundational cyber security measures and best practices, implementing them to your advantage.
With that said, we’ve listed nine top cyber security trends in 2023. Realize the importance and applicability of these trends and how they can affect your business or organization.
For more insights from Anas Baig, please see CyberTalk.org’s past coverage. Lastly, to receive more cutting-edge cyber security news, best practices and analyses, please sign up for the CyberTalk.org newsletter.
