With so many wonderful advances in technology, cyber threats continue to ramp up at an alarming pace right alongside them. Staying ahead of the curve is crucial to the success of every business, especially when it comes to safeguarding sensitive information. Data security threats are becoming increasingly sophisticated and more prevalent. It is important that we keep up!
In 2024, we can expect to see some exciting developments alongside persistent cyber security challenges.
Over seventy percent of business professionals remark that their data privacy efforts are worth it. Furthermore, that their business receives ‘significant’ or ‘very significant’ benefits from those efforts.
Staying informed is crucial. Let’s take a look at a few key areas to watch.
Rise of the Machines: AI and Machine Learning in Security
Artificial intelligence (AI) and machine learning (ML) have well surpassed being futuristic concepts; they are actively shaping our technology and cybersecurity landscape. In 2024, we will likely see a further rise in their use and application:
Enhanced Threat Detection: AI and ML algorithms excel at analyzing utterly massive data sets. This enables them to identify patterns and anomalies in a quicker fashion as well as identifying issues that might escape human notice. This translates to quicker detection and reaction to potential cyber threats.
Predictive Analytics: AI can predict potential security vulnerabilities and suggest or initiate proactive measures. In these cases, AI uses information from past security incidents and cyberattacks to achieve this.
Automated Response: Beyond detection and analysis, professionals can program AI technology to isolate compromised systems, block malicious activity, and trigger response procedures. This saves valuable time and resources as well as reducing the potential impact of cyber-attacks.
While these tools provide amazingly significant benefits, it is important to remember that they are just that: tools. Not magic solutions. Deploying them effectively requires skilled professionals, like those here at Vodigy who can best assist in activating and interpreting data sets to help you make the best decisions.
The Never-Ending Battle Against Ransomware.
For those unfamiliar, Ransomware is a malicious software that encrypts data and demands a ransom for decryption. Sadly, this has been a persistent threat for years and will continue to mutate and escalate well into the future. Here’s what we might expect in 2024.
More Targeted Attacks: Attacks will no longer be deployed ‘willy-nilly’ and instead, hackers will focus on more targeted attacks. We have seen a rise in attacks focused on critical infrastructure and businesses with mines of sensitive data. Cybercriminals do this to maximize impact, potential payout, and just generally to create as much havoc as possible.
Ransomware as a Service (RaaS): Regretfully, we inform you that RaaS is now a thing. This unfortunately enables those with limited technical skills to harness the power of ransomware. This makes it ell to easy for a wide range of actors to launch attacks.
Double Extortions: Beyond encrypting data, hackers might be tempted to steal it before hand and create a double ransom situation. They then may threaten to leak the sensitive information publicly if the ransom isn’t paid, adding pressure on all those involved.
Shifting Strategies: Earlier Data Governance and Security Action
Traditionally, companies have been deploying data security measures at a later stage in their life cycle. Usually after data has already been stored and analyzed. In 2024 we are seeing a trend towards earlier data preservation. This means:
Embedding Security Earlier On: Data controls and security measures will be integrated at the start of the data journey. This could involve setting parameters for data classification levels as well as placing access restrictions.
Cloud-Centric Security: With many SMBs utilizing cloud-based storage systems, security solutions will become more integrated with cloud platforms. As well as creating more dynamic security solutions and creating consistent security through the entire data cycle.
Compliance Focus: Data privacy regulations like GDPR and CCPA are becoming increasingly stringent. As this happens, companies will need to focus on data governance to ensure compliance.
Building Your Very Own Fortress: Multi-Factor Authentication and Zero Trust Security
We are in a world where traditional perimeter defenses are constantly being breached. This is why the ‘Zero Trust’ approach is gaining prominence. This security model assumes that no user or device is inherently trustworthy. Every interaction between users and programs will need access verification. Here is how it works:
Continuous Verification: Every access request will be rigously scrutinized. This is regardless of its origin (inside or outside the network). The system will then base verification on factors like identity, device, location, and requested resources.
Least Privilege Access: This involves granting users within a company the lowest access level needed to perform their tasks. This minimizes the potential damage if hackers compromise their credentials.
Multi-Factor Authentication: We have said it before and will say it again: if you do not already have MFA on your account, you are behind on the times. Check out our other blogs for more information.
How to Prepare for Evolving Data Security Trends
Here are some practical steps your organization can take:
- Stay informed
- Invest in staff training
- Review security policies regularly
- Embrace new security techniques
- Regularly test your systems
Does this all seem a little overwhelming? That is why organizations like Vodigy exist, to help take the technology load off your back. Leaving you to what you do best – running your business.
Reach out today to schedule a security audit or a full discovery today!
