Cyber Security

What the Cybersecurity Industry Can Expect in 2023?

Cybersecurity has always been an area of great interest, scrutiny, and speculation for tech nerds and geeks around the world. Back in 2022, we witnessed a plethora of crypto heists, phishing scams, cyberattacks, data privacy leaks, and whatnot. After seeing the vandalization done by the cyber legions, the stealing of critical information, the defacing of websites, and the launching of numerous DDoS attacks, it’s hard to imagine how 2023 will unfold. Cybertech brings to you yet another blog that brings to you what the cybersecurity industry can expect in 2023. So, without any further ado, let’s get started:

  • More data protection regulation measures will come.

As the population is increasing, more and more people are becoming a part of this global village of a world. With our digital lives expanding at a tremendous rate, data is multiplying at a faster rate than ever before. In addition to that, with piles of files to complete, additions to be made links to be shared and Excel sheets to be made data storage and sharing have become a part of our DNA. While we have ample space to store our precious data, whether it is well-protected or not is something very few ponder upon. This brings us to the lack of data privacy and security measures prevalent in almost all the web and software development processes. 2023 will see a bright sunrise of data privacy, for sure. This is because cybersecurity will turn out to gain immense popularity this year as compared to the previous decade. In addition to that, justifying the cyber security jobs in demand.

With the increasing focus on data privacy, there will likely be greater emphasis on protecting personal data. Governments around the world can be seen taking initiatives to ensure compliance with regulations such as the General Data Protection Regulation (GDPR). By the end of 2023, we will see a majority of the population being covered under modern privacy regulations. Recently, a federal reporting requirement issued in March 2022 mandates that critical infrastructure organizations must report cyber incidents and ransomware payments. Some governments have also proposed new cybersecurity disclosure requirements including some basic cybersecurity tips for public organizations that obligate them to disclose the cybersecurity expertise of board members and report cybersecurity practices periodically.

Read More: How to Secure a Job in Cybersecurity: Tips from Experts

  • The increase in cyber-attacks demands threat detection and requisite response tools.

Cyber threats are expected to continue to increase in volume and sophistication, as attackers use advanced techniques such as artificial intelligence and machine learning to launch targeted attacks. Be it Android or iOS, mobile hacking is not new to phone users. Malware, Trojan Horse, and whatnot have always anticipated a click made by a careless, unaware, or na├»ve user. Sooner or later, their patience yields fruits. 

Well, we cannot deny the fact that computers are well-protected but mobile phones ain’t. This is because it demands funds, time, and constant vigilance. With safety measures not in place, your photos, videos, e-mails, messages, confidential bank details, etc. can get exposed to hackers. Hence, there is a high possibility that malware and virus can cast an evil eye on your phones this year. 

With time, cyberattacks have become a question of "when" rather than a question of "if". The only way organizations can stop an attack or reduce its impact is by identifying unusual activity across their entire ecosystem of users, applications, and infrastructure. Threat detection and response tools like endpoint detection and response (EDR), extended detection and response (XDR), and managed detection and response (MDR) can analyze historical data using artificial intelligence and machine learning algorithms to spot unusual patterns as well as leverage threat intelligence and advanced file analysis to detect and block advanced threats that are designed to evade traditional defenses. Experts predict that the demand for cloud-based detection and response solutions like EDR and MDR will significantly increase in the coming years. You 

  • Third-party risk management becomes a pressing issue.

Many adversaries are circumventing sophisticated defenses that large enterprises deploy by hacking smaller supply chain organizations that might have access to the same information but do not have an equal level of protection. Supply chain attacks grew four-fold in 2021. Organizations have long used third-party applications to improve productivity, but such tools can have a number of vulnerabilities that attackers can exploit to gain access to victim environments. Amidst this, tech experts can be seen predicting that by 2025, 45% of organizations will experience attacks on their software supply chains, which will be three times as many as in 2021. Boards and CEOs are demanding security improvements in their supply chains, which is why we can expect an increased demand for tools, services, and vendor questionnaires that can help catalog and monitor cyber risks in third parties and suppliers.

  • VPNs getting replaced by Zero Trust. 

Remote working trends will likely continue. Virtual private networks are unable to meet scalability demands, and the technology itself can be prone to cyberattacks and vulnerabilities. Zero trust, on the other hand, is a multitiered approach that is both scalable and highly secure. Zero-trust strategy is based on the concept of "never trust, always verify," which means that just because users can be identified and authenticated, they must not be granted blanket access to all resources. In a zero-trust environment, users are continuously validated, reassessed, and reauthorized using multiple authentication methods.

Read More: How to Explain the Basics of Cybersecurity to Students

  • A dire need for risk assessments will be felt.

Cyber insurance premiums are climbing, and it's becoming increasingly difficult for companies to afford or obtain coverage. To negotiate insurance premiums and better risk coverage, businesses will be required to present evidence across a broad spectrum of security areas in order to prove compliance with leading cybersecurity standards and best practices. Organizations will begin to conduct enterprise risk assessments that highlight the maturity level of their cybersecurity program, basic cybersecurity tips and proactively address any underwriting concerns. When buying cyber insurance, risk assessments can serve as guidance—defining priorities as well as identifying risks deemed acceptable and those that need to be transferred to insurers. The threat landscape will undoubtedly continue to evolve in 2023, probably at the same pace as what we're seeing currently—if not more. Organizations must stay vigilant, never compromise and, if needed, leverage security expertise for advice and guidance. Risk assessments can help determine decisions around insurance gaps, limits, and coverage. You can go through our 5 simple ways to improve cybersecurity business to keep up the pace with risk assessment.

  • Incorporation of AI anywhere and everyone!

There will be a tremendous rise in the adoption of AI and its requisite automation: To combat these threats, the cybersecurity industry is likely to see increased adoption of artificial intelligence and automation technologies to detect and respond to attacks faster and more accurately. A major advantage of this will be early detection and prevention of further stealing of sensitive and critical information.

  • More and more cyberattacks will be made using automotive hacking.

Driverless cars are gaining popularity all around the world. While automotive experts are considering this as a breakthrough, cybersecurity experts have been laying emphasis on the potential threat such cars will expose the owner too. Such cars take instructions from the owner using Bluetooth and other technologies. These are susceptible to eavesdropping, phishing, and other hacking attacks and vulnerabilities. Henceforth, stringent cybersecurity ways are yet to be incorporated into the way these cars operate or take instructions for engine timing, airbags, cruise control, door lock, and advanced systems for driver assistance. 

  • Cloud computing will become the norm.

Cloud or cloud computing had reformed the idea of storing files forever. These are servers that help in accessing information stored across machines over the internet. Now, one doesn’t have to scrounge through musty files and manually sort data. With cloud computing, everything can be done in a jiffy in the high heavens. Haha! With the growing adoption of cloud computing, cybersecurity professionals will need to focus on ensuring the security of cloud-based data and applications. With myriads and myriads of businesses, companies, and individuals making their data ‘go cloud’, the security of these servers has come under great scrutiny. The start of 2023 has seen tech experts labeling these servers as “vulnerable”. While Google Drive and Microsoft OneDrive are constantly monitored and well-guarded from an application’s perspective but there is a possibility of attracting malicious activities from the end user. Cyber security jobs in demand will be witnessed this year to curb this issue.

  • A shortage of skilled people will be felt.

A lot of p[ressing issues will be witnessed by the cybersecurity industry this year. These will be earmarked by an acute talent shortage. The demand for cybersecurity professionals is expected to continue to outstrip supply, creating a shortage of skilled personnel in the industry. To address this, organizations will need to focus on training and upskilling their existing workforce and adopting new recruitment strategies to attract and retain top talent.

Overall, the cybersecurity industry can expect to face ongoing challenges in the coming years, but with a focus on innovation and collaboration, it should continue to evolve and adapt to meet the needs of a changing digital landscape. 

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