Cybersecurity is a constantly evolving field, with new threats, technologies, and opportunities emerging every year. These days, organizations need to be aware of current cyber threats, and able to adapt to future ones. Businesses of all sizes and sectors should plan accordingly.

Staying ahead of the curve is paramount to safeguarding digital assets. Significant changes are coming to the cybersecurity landscape including emerging technologies and shifting global dynamics.

Let’s explore some key cybersecurity predictions for 2024 that you should consider.

1. AI Will Be a Double-edged Sword

Artificial intelligence (AI) has been a game-changer for cybersecurity. It has enabled faster and more accurate threat detection, response, and prevention. But AI also poses new risks such as adversarial AI, exploited vulnerabilities, and misinformation.

For example, malicious actors use chatbots and other large language models to generate:

  • Convincing phishing emails
  • Fake news articles
  • Deep-fake videos

This malicious content can deceive or manipulate users. You’ll need to put robust security protocols in place, which include embracing a human-in-the-loop approach as well as regularly tracking and reviewing their AI systems. These steps will help mitigate some of the risks and harness the power of AI for a more secure future.

2. Quantum Computing Will Become a Looming Threat

Quantum computing is still a few years away from reaching its full potential, but it is already a serious threat to the security of current encryption standards.

Quantum computers can potentially break asymmetric encryption algorithms. These algorithms are widely used to protect data in transit and at rest, which means that quantum-enabled hackers could compromise sensitive data, like financial transactions.

Businesses will need to start preparing for this scenario. You can do this by assessing their potential risks first, then adopting quantum-resistant technologies and deploying quantum-safe architectures.

3. Hacktivism Will Rise in Prominence

Hacktivism is the use of hacking techniques to promote a political or social cause, such as exposing corruption, protesting injustice, or supporting a movement.

Hacktivism has been around for decades, but it’s expected to increase in 2024, particularly during major global events. These may include the Paris Olympics, the U.S. Presidential Election, and geopolitical conflicts.

Hacktivists may target organizations and businesses that they perceive as adversaries or opponents, which can include governments, corporations, or media outlets. These attacks can disrupt your operations as well as leak data or deface your websites.

You will need to be vigilant against potential hacktivist attacks by being proactive in defending your networks, systems, and reputation.

4. Ransomware Will Remain a Persistent Threat

Ransomware is a type of malware that encrypts the victim’s data, then demands a ransom for its decryption. Ransomware has been one of the most damaging types of cyberattacks in recent years.

In 2023, ransomware attacks increased by more than 95% over the prior year.

Ransomware attacks are likely to continue increasing in 2024 due to new variants, tactics, and targets emerging. For example, ransomware attackers may leverage AI to enhance their encryption algorithms., as well as evade detection and customize their ransom demands.

Hackers may also target cloud services, IoT devices, or industrial control systems. This could cause more disruption and damage and you’ll need to have comprehensive ransomware prevention and response strategies in place, including:

  • Backing up data regularly in an offsite and immutable format
  • Patching systems promptly
  • Using reliable email and DNS filtering solutions
  • Educating users on how to avoid phishing emails

5. Cyber Insurance Will Become More Influential

Cyber insurance covers the losses and liabilities resulting from cyberattacks. Because cyberattacks are becoming more frequent and costly, many industries are now required to have cyber insurance.

Cyber insurance can help organizations recover from cyber incidents faster and more effectively, providing financial compensation, legal help, or technical support.

Cyber insurance can also influence the security practices of organizations. Cyber insurers may impose certain requirements or standards on their customers such as implementing specific security controls or frameworks. Organizations will need to balance the benefits and costs of cyber insurance as well as ensure that they are in compliance with their cyber insurers’ expectations.

Article used with permission from The Technology Press.