The post-pandemic push towards increasing digitization has meant that the external boundaries of our homes and offices have become limitless. The dominant work-from-home culture exposes chinks in our armor that are open to exploitation by cybercriminals.
The cyberattack on Texas firm Solar Winds in early 2020 placed malicious code in the company’s software which found its way to clients through company updates, exposing sensitive information. And such threats are bound to increase.
Let’s be aware of the biggest dangers we will face in 2022 and beyond and what it takes to guard our frontiers.
AI, Machine Learning, And Threat Intelligence Will Boost Cybersecurity Best Practices
AI uses vast databases to identify systems vulnerabilities and draws on powerful algorithms to detect patterns of behavior that vary from average. Thousands of online events come under the AI scanner to pre-warn businesses of an impending cyber strike.
Moving forward, we’ll see more companies turning to AI to counter cybercrime. The devastation of the Solar Winds hacking makes it clear that companies need the sophistication of AI to counter future attacks.
Organizations will implement AI in different ways to enhance cyber security posture moving forward:
- Instead of the silo approach of managing risk through fragmented functions and departments, AI will dig deeper to assess threats and adapt and integrate all organization systems to tackle risk – breaking ground to a holistic risk management approach.
- The sustained, accurate and proactive response to vulnerability assessment challenges will increase the power and preparedness of organizations to face unpredictable cybercrime.
- AI-powered real-time threat detection systems will underscore the importance of network security and stability by detecting suspicious activity traffic and deciding the company’s vulnerability response without manual interventions.
- Metamorphic and Polymorphic malware that produces new versions entirely different from the previous version to avoid detection will come under the scrutiny of more robust malware detection programs backed by AI and Machine Learning.
- AI’s sophisticated risk reporting will provide a qualitatively improved cybersecurity dashboard showing spot assessments of phishing and malware incidents and vendor risk management tools for a more aggressive cybersecurity posture.
- AI will improve analytical capabilities, allowing risk managers in financial institutions to assess risk in real-time more effectively and speedily, enabling more informed decisions.
Data Backups And Vulnerability Assessment Will Strengthen Anti-Ransomware Defenses
Any company or individual with weak security architecture is a potential cyberattack victim. Ransomware works by impregnating malicious code that isolates and locks sensitive data with the help of secretive cryptography techniques. The victim unhesitatingly complies with a ransom demand to get the data unlocked.
The fear of data leakage to the public makes corporations succumb to ransom threats. The chink in the corporate armor is the employee who falls victim to phishing attacks that divulge sensitive information or overuse USB devices that infect critical systems.
Corporations will be keen to train and raise awareness levels of employees to prevent leaks.
IoT Auditing Will Detect And Erase Device Vulnerabilities Before Hackers Exploit Them
The corporate system seems secure for all purposes. Still, the increasing number of devices and objects that connect the organization through the Internet of Things are becoming potential access points for a cyberattack.
The hacker uses an IoT-connected device (like a smartphone) to break into the connecting network and access sensitive data. The movement of data closer to the source device (edge computing) and data moving to virtualized servers (cloud computing) increases vulnerability to hacking wherever the security infrastructure is weak.
Future strategies may bring each device connecting to a network under an automatic audit for intense threat assessment.
Like Credit Ratings, Companies Will Scrutinize Security Ratings To Select Partners
Moving forward, we may see organizations assessing and grading potential partners on a scale of cybersecurity risk before deciding to do business. Businesses that don’t measure favorably on the risk scale will go out of business.
Vendor risk management software such as Black Kite, SecurityScorecard, and UpGuard will be as helpful as credit rating agencies in determining the suitability of engaging third-party vendors and service providers.
GDPR is an EU-sponsored regulatory framework protecting private data and mandating businesses not to share private data with countries outside the EU only after complying with EU laws. China has a similar law called Personal Information Protection Law (PIPL). Similar legislation has been approved by Canada, the UK, and Brazil, among other nations.
International legislation is compelling companies to follow norms or pay heavy fines and penalties in violation.
Business migration to the cloud and the post-pandemic work-from-home culture, together with the proliferation of IoT (internet of things) devices, have exposed cybersecurity vulnerabilities and challenges.
AI and ML-based solutions are enabling a solid counterattack in the face of rapidly adapting and morbidly changing cybercrime. Advanced AI algorithms are detecting and erasing vulnerabilities before nefarious actors exploit weaknesses.
Use the tips and trends we have highlighted to strengthen your company’s cybersecurity posture and be better prepared when cyberwars come closer home.