The Path to Cybersecurity 2030

  • Frost & Sullivan claims that over the next 8 years, Earth will have a complex network of 200 billion devices, with an average of more than 20 connected devices per human.
  • As the IoT as connected devices become more sophisticated in their capabilities, their vulnerability to breaches will also increase.
  • Leaders and stakeholders need to understand the imperative to budget for higher spending on cybersecurity – simple software solutions won’t cut it.

Cybersecurity has been the bane of chief information security officers (CISOs), and even businesses, since the advent of computing. But it has never been more critical for survival than in the past two years – as the pandemic has forced teams to work remotely. The IBM 2021 Cost of a Data Breach report shows a 6-fold increase in the number of cybercrimes during the pandemic. Over the two years of the pandemic, the cost of a data breach rose from $3.89 million to $4.96 million. With at least half of employees working remotely, it took another 58 days to identify and contain a cybersecurity breach. The costs of keeping a business secure are also rising dramatically – $433 billion is the projected global collective spending on cybersecurity by 2030.

Interestingly, there doesn’t seem to be a real watertight solution to guarantee zero cybersecurity risk, but security managers continue to develop smarter and sharper tools to minimize attacks and risks. Risk is the biggest issue – in terms of data loss, as well as privacy breaches – for both customers and the business.

Future risks

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Ironically, it is the greater adoption of technology that will lead to an increase in cyberattacks. And interestingly, these new technologies should also find the roadmap for increased security. The next decade – with ubiquitous connectivity, artificial intelligence (AI), quantum computing and next-generation security management approaches – may continue to pose security challenges.

  • AI is the case here since it allows the complete democratization of cybercrime. On the other hand, it also helps in detecting and performing predictive identification of cyberattacks. Similarly, Internet of Things (IoT) environments offer highly susceptible spaces to sabotage and extortion attacks in the supply chain, logistics, transportation, manufacturing, and service industries. health, to name a few. Frost & Sullivan reports that over the next 8 years, Earth will have a complex network of 200 billion devices, with an average of more than 20 connected devices per human. As IoT-connected devices become more sophisticated in their capabilities, their vulnerability to breaches will also increase.
  • On the networking front, as 5G becomes mainstream and 6G begins to take hold, data privacy will become a major concern, as an increased amount of data transfers would certainly expose the nodes to more attacks. important and more expensive. This ubiquitous connectivity creates a shared infrastructure of services, cloud, ISP, software, databases and supply chain. In an effort to increase accessibility, resilience, and agility, organizations are inadvertently exposing a much larger portion of their infrastructure to cyberattacks, which in turn would lead to much higher costs and much more severe impacts. .
  • As digital identity becomes commonplace, it increases the risk of exposure to all kinds of data. This is a calculated risk that companies must take.
  • As Software as a Service (SaaS) and Everything as a Service become more mainstream, cloud providers risk becoming sitting ducks for cyberattacks and it will only get more vicious in the coming years.
  • The increase in hostilities and power games between developed countries also leads to enormous Dark web activities – data attacks, data stolen and sold for billions of dollars are regularly sponsored by states.
  • The Metaverse is now becoming our second world, blurring the lines between reality and virtuality. Users and the interface have to feed a lot more information into the platform, attracting attackers’ interest more than ever. Security will have to be very smart – it will have to keep data secure without compromising its functionality or convenience.

Fill gaps
Traditional cybersecurity methods don’t stand a chance against new-age cyberattacks. Mitigation and response need to transform, but the business environment has not yet realized this. Suppressing future problems with solutions from the past has never worked, but organizational inertia could keep companies stuck in these challenges for some time to come.

So what is the way forward? Skills are in short supply, so the first step would be to equip security professionals with modern tools to combat modern threats. Leaders and stakeholders need to understand the imperative to budget for higher spending on cybersecurity – simple software solutions won’t cut it. Investments will need to be made in research and knowledge support, and government policies and regulations need to be strengthened.

Threat actors will also continue their game of spotting opportunities and vulnerabilities over the next few years. As new tools are adopted, new vulnerabilities will be identified, new attacks will occur.

Dell Technologies recently partnered with the Institute for the Future (IFTF) and 20 experts from around the world to work on REALIZING 2030 – a project to understand the future and predict the impact of today’s new technologies on human life over the next ten years. He finds interesting points that we must pay attention to. The pragmatic use of technology will be an important point.

Organizations will also need to dramatically increase their adoption of cybersecurity culture to minimize insider threats and zero-day attacks. Cybersecurity will have to be integrated into products and services, passwords will have to disappear because they constitute a great threat of loss of access. Biometric identification might be the best way forward. AI will play a huge role in identifying and mitigating risks. Hopefully, over the next few years, companies will be able to take advantage of computer security algorithms to help create security bots that can anticipate, predict, and identify vulnerabilities.

With the increasing number of devices, data security will only be more at risk and the growing culture of digital identity will certainly create more active identification threats.

The balance between technological progress and risk must be carefully weighed in the years to come. Otherwise, the company will have entered a digital ecosystem that will be an emerging juggernaut with an even greater risk landscape. It will be up to the security leadership to identify new roadmaps and ensure that cyber risks do not grow alongside technological advances.

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