The impact of the pandemic and Rapid Digital Transformation prompted organizations to handle change at a mind-boggling pace. As Security and Risk Management leaders look into recovery phases in the last two years, it is vital to consider future strategies. This is imperative when businesses are allocating resources, selecting products, and prioritizing services as well as digital initiatives.
In recent years, organizations have seen cybersecurity being discussed from the IT department, right up to the board room. As cyber-attacks have proliferated, the potential penalties, regulatory actions, and loss of customer trust have increased, thus becoming a priority for all enterprises.
Cyber security analysts predict an environment with increased regulation, security implications, and decentralized systems. Acknowledging the possible dangers in the cybersecurity world can help organizations better prepare for the challenges that lie ahead.
Upcoming Cyber Security Predictions for 2023
Cybersecurity is at the top of every enterprise’s agenda. Below, we have summed up the key cybersecurity trends to look out for, as we gear up for the year 2023.
The Board’s Cybersecurity Readiness will be Imperative
Business and cybersecurity success is more interlinked than ever now. The board’s role in cyber-risk oversight involves the importance of robust dialogue with cyber influencers within the organization.
Without close communication between the board and cyber-risk teams, the organization can be at great risk. Businesses thrive when the top management takes control and makes informed decisions to avoid crises.
Cybersecurity teams in 2023 will need to enlighten the board with several pointers to get a clearer picture. For example, clear articulation of the current cyber risks; informing them of recent cyber incidents and how they were handled.
This process should also include roadmaps to outline the organization’s cyber capabilities and meaningful metrics that support the effective and successful performance of cyber risk management mechanisms.
Connected Device Security and Visibility; A Major Focus
Cybersecurity priority for many organizations has been securing devices worldwide that are used for home or remote working. In 2023, when workers are more likely than ever to use personal devices to remotely connect to work networks, a new set of challenges has emerged. Connecting to networks with unprotected devices can lead employees to fall victim to cyber-attacks.
With people shifting towards working remotely, it’s likely that organizations will find themselves working in teams. It is quite possible they don’t know each other personally, and the risk of falling prey to impersonation scams rises substantially. Therefore, it is imperative to work on enabling security programs and software for the betterment of remote or hybrid workforces.
Security in Emerging Technologies will be Critical
The importance of accelerating technological development in organizations is growing by the passing minute, and this is making cybersecurity risks become evident too.
The adoption of advanced technology cannot be avoided. Therefore, developing strong strategic tools to cater to cybersecurity risks will become an imperative incentive for all businesses to look into.
The success of businesses in today’s hostile digital environment requires strong and sustainable security measures, along with methods that can protect the organization and ensure the usage of appropriate technologies.
Readiness for Un-Discovered and Emerging Cyber Threats
With budgets tightening, and competition for a limited pool of IT and security talent growing fiercer, Cyber Security as a Service provider will become an optimal solution.
Futuristically, this will help security teams concentrate on their core missions because they can count on their partners to focus on specific vectors. Cyber security as a service can allow the services utilized to change over time, and be periodically aligned to ensure customers’ needs are securely met.
With more advanced technology and constant market growth, introducing cyber services can leverage businesses to secure their customer needs and organizational growth.
Resilience means a lot more than just bouncing back from a significant cyber threat, as it focuses on long-term goals and benefits. The resilience of the organization in cybersecurity should resist, absorb and recover from business disruptions. Businesses cannot afford to treat cybersecurity as anything but a systemic issue.
While the board tends to strategize about management, cybersecurity professionals need to concentrate on efforts at the technical, operational, and organizational levels.
According to the World Economic Survey, 95% of security breaches are due to human error. Therefore, it is a requirement to reassure staff and challenge high-risk requests by developing a strong resilient culture.
Supply Chain Security Risks Continue to Emerge
Businesses still have a long way from having an adequate solution to protect digital supply chain vulnerabilities. World Economic Survey found that 40% of organizations experience negative effects from cyber security incidents with their supply chain systems. It is predicted that these concerns will carry forward into 2023. With organizations trusting third-party suppliers now, such scenarios could potentially become a primary channel of attack.
Organizations lack solid practices for securely integrating and managing API systems, and they have become a serious threat source due to their heavy reliance on them. The tension in supply chain relationships is increasing, as organizations escalate their vendor’s processes to understand risks, while suppliers scramble to manage the focus on their processes.
Organizational Talent Consolidation and Outsourcing Trends
Improving and scaling cyber security efforts in a constantly changing environment is challenging, especially with new threats and technologies being developed. This has resulted in an acute shortage of skilled cybersecurity professionals.
Spending on technology alone is not enough, and rolling out labor and maintaining technology platforms is the reason cybersecurity services are taken into consideration. Protecting digital connections needs to stay at the top of the priority list while looking for ways to help the organization and enable innovation.
Cloud Security will Rapidly Mature
Organizations migrating to the Cloud reap multiple benefits across the board. From scalability to robustness, cloud infrastructures are versatile and economical compared to on-premise solutions.
Benefits like these are attracting an increasing number of businesses to the Cloud. This has given a rise to cloud applications at a rapid pace. However, the increasing proliferation of cloud applications presents an equally important need for cybersecurity.
If not handled correctly, cyber attacks can cost organizations millions of dollars through ransomware, distributed denial of service attacks (DDoS), loss of data, etc. Such threats will be curtailed gradually, as cloud security protocols will mature by 2023, as is the case with any technological feat.
Evolving Threats to Operational Technology
IT and Operational Technology (OT) teams find common ground to eliminate the substantial risk factors of planned and accidental convergence. OT security solutions, in conjunction with IT security solutions, become a catalyst that provides the visibility, security, and control needed for cyber threats. This ties two strong security teams together in a manner that can facilitate every aspect of an organization’s cyber security, both efficiently and securely.
The rising demand for improved connectivity of systems, faster maintenance of equipment, and better insights into the utilization of resources has raised internet-enabled OT systems. With everything becoming internet-facing and cloud-managed, the manufacturing and critical infrastructure sectors are becoming exposed to profound threats. In the upcoming years, OT attacks will become more prevalent in cyber warfare.
The concept of cyber security is often misdirected by the way media and movies display “glorified” ideas of cyber attacks and cyber criminals. The threats are often volatile and dangerous but in reality, most threats to cyber security can emerge from basic errors.
Poorly secured networks with sensitive data, and reckless employees using insecure devices while working from home, are just some examples of how even the simpler things can put enterprise networks at risk of cyber attacks.
Heading into 2023, organizations are strengthening their ransomware defense, security and privacy approach, cyber attack responses, supply chain risks, and much more.
In order to better cope with present-day cyber threats, it is vital to have a reliable technology and IT solutions provider like ATSG by your side. Our highly professional, experienced, and certified professionals will suggest an optimal solution for your enterprise, which is equally secure as well.