Cybersecurity Trends That May Explode in 2021
Cybersecurity trends that may explode in 2021
Content written by Jinkie Bracken for bigdata-toronto.com
It goes without saying that COVID-19 has changed the way the world operates. In addition to social distancing, broken supply chains, fragmented workforces, and the rise of video meetings, the pandemic is driving massive systemic changes in consumer and business behavior. In particular, it has disrupted cybersecurity, due to the uptick in cybercrimes and the abrupt shift to remote working.
Cybersecurity has always been important, but now businesses big and small are putting a premium on cyber defenses after not prioritizing it for so long. It has been a long time coming, but many are starting to realize just how critical it is to keep them safe from potential cyber-attacks. With the pandemic forcing many companies to go remote, hackers took it as an opportunity to pounce. They are taking advantage of how insecure the home networks of remote workers are, leading to a surge in data breaches, malware, ransomware, and other forms of cybercrime.
Understandably, these cyber threats urged companies to look after the cybersecurity of their employees. Remote workers are being extra careful themselves, too. Businesses are issuing password-protected laptops, and workers are taking precautionary measures like using a VPN.
But this is just the start. Cybersecurity will gain momentum come 2021, and these trends will likely affect the whole industry:
At a time where remote working has become the norm, businesses are on the hunt for models to support operations regardless of the time and the geographical location. This particular situation will give rise to location-agnostic operations, which are designed to support customers, as well as enable employees everywhere to manage the deployment of business services across distributed infrastructure. In addition, this model also allows a business to be accessed, delivered, and enabled anywhere in the world. But in order to be secure, organizations must see to it that they’re deploying the necessary measures, including enforcing password and multifactor authentication, zero-trust security, and secure access service edge (SASE).
To be protected against possible cyber-attacks, a cyber insurance policy should be non-negotiable. It would help businesses mitigate financial risks in the event of an attack. Organizations are starting to realize this, as there are an increasing number of businesses covering themselves by getting cyber risk insurance. It has gotten to the point that experts predict that by 2030, the annual gross written premium will increase by 200%, from around $2.5 billion to $7.5 billion.
Alignment with business goals
As previously mentioned, businesses must also recognize that the cybersecurity strategies they implement are in line with the company’s vision. While there’s no doubt that introducing new cybersecurity solutions are important, they ultimately have to fulfill some of your lofty goals. Ensure that whatever protocols you’re going to adopt should benefit both the employees and the customers you’re trying to serve.
While automation is nothing new, it will be taken up a notch with hyperautomation. It’s a process that involves adopting automation technologies as a synergy of powers instead of adopting only one. Businesses will automate as many business and IT processes as possible by leveraging tools like AI and machine learning. This will be beneficial for organizations as many still rely on patchwork technologies that are neither optimized nor connected. It is very expensive and leads to other operational issues. With hyperautomation, organizations will be more efficient and resilient while also saving money in the process.
It is common practice for the majority of organizations to use databases to store sensitive information. This can include names, passwords, emails, social security numbers, credit card details, health records, as well as other essential data. As we have seen over the past few months, these databases have become a prime target for hackers looking to make a hefty profit by reselling the stolen information or asking for a ransom.
It turns out that attackers often don’t even need to hack them to steal all that precious data. CyberNews researchers found that more than 29,000 databases worldwide are still completely unprotected and publicly accessible, leaving close to 19,000 terabytes of data exposed to anyone, including threat actors. Hence, it has become crucial for companies to take the appropriate measures to secure their database against potential attacks.
With the pandemic making it extra challenging for businesses to maintain continuity, it is all the more important to elevate your cybersecurity efforts. When you enforce the right solutions, you’re likely to retain your customers, facilitate productivity, and safeguard your standing with stakeholders. To learn more about how to protect your business, connect virtually with cybersecurity experts at Big Data and AI Toronto on October 13-14, 2021.