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Cybersecurity Trends for 2023: From Zero Trust to Cyber Insurance

It’s time to prepare for what’s to come in the world of cybersecurity. Last year has been marked by an alarming increase in phishing scams, cyberattacks, data breaches, and crypto heists. Additionally, we’ve witnessed a surge in hacktivism cases involving state-sponsored cyber groups disrupting critical infrastructure, defacing websites, launching DDoS attacks, and stealing sensitive information.

Looking ahead to 2023, it’s safe to assume that cybercrime will continue to break records. To help you stay informed, here are seven cybersecurity trends you can anticipate in the current year.

#1 Automotive Hacking 

Today’s vehicles are equipped with advanced automated software that allows for easy control of cruise settings, engine timing, door locks, airbags, and driver assistance systems. However, these same technologies that enable seamless connectivity also make vehicles vulnerable to hacking threats. As the use of automated vehicles increases, so too does the risk of hackers taking control of vehicles or eavesdropping on conversations using built-in microphones. Autonomous vehicles face even greater cybersecurity challenges, requiring strict safeguards to ensure safe operation.

One way to protect yourself is to use a VPN for the car. If you think that with VPN slow Internet, then this is not true. Modern VPNs practically do not affect the speed of the Internet, and sometimes even have a positive effect. The increase in VPN speed is due to data compression, so the user has to download, for example, not 10 MB, but 5 MB. VeePN can protect the car from hacking, as a hacker cannot directly access it or intercept data. Encryption and use of a remote server increase the cybersecurity of both the car and any device with Internet access.

#2 Threat Detection And Response Tools

Cyberattacks are inevitable, so organizations must be prepared to identify and mitigate them. To accomplish this, they need to monitor all aspects of their system – users, applications, and infrastructure. Luckily, there are tools available to help with this, such as endpoint detection and response (EDR), extended detection and response (XDR), and managed detection and response (MDR). These tools use advanced technology like artificial intelligence and machine learning to analyze historical data and detect suspicious activity. Additionally, they can leverage threat intelligence and advanced file analysis to block more sophisticated attacks. Industry analysts predict that demand for cloud-based detection and response solutions like EDR and MDR will grow significantly in the future.

#3 IoT Evolving

The more the Internet of Things (IoT) expands, the more opportunities for cybercrime arise. IoT refers to physical devices, such as smart refrigerators, wearable fitness trackers, and voice assistants like Amazon Echo and Google Home, that connect to the internet and share data. By 2026, there will be approximately 64 billion IoT devices installed globally, partly due to the trend of remote working. This increase in IoT devices expands the cyber-attack surface, providing a larger number of entry points for potential hackers. Compared to laptops and smartphones, most IoT devices have less processing and storage capabilities.

#4 Cyber Insurance

Cyber insurance premiums are on the rise, making it harder for companies to afford adequate coverage. To negotiate better premiums and risk coverage, businesses must provide evidence of their compliance with cybersecurity standards and best practices. They’ll need to conduct enterprise risk assessments to assess the maturity of their cybersecurity program proactively. Risk assessments serve as guidance when purchasing cyber insurance defining priorities and identifying acceptable risks, as well as those that need to be transferred to insurers. They help make informed decisions about insurance gaps and limits.

#5 AI and ML Technologies

The rapid advancements and widespread use of AI and ML technologies have sparked both hope and concern. On the bright side, we can expect significant innovations in fields like medicine and transportation, as well as stronger cybersecurity measures. However, AI also presents new opportunities for cybercriminals, and ML models may learn to act dishonestly. There is currently no agreed-upon plan for governments, companies, or communities to ensure the safe and ethical development, deployment, and monitoring of these systems. A clear path forward is needed.

#6 Metaverse Uncertainty

Will the metaverse succeed or fail? Experts are divided on this question. Some believe that it won’t materialize and will be considered a failed experiment by 2030. Others argue that we need to accelerate policy innovation to keep up with the new privacy and security challenges that a fully realized metaverse will pose. 

However, workshops revealed a more troubling possibility: a dystopian future where people escape their problems in the real world by passively consuming the metaverse. To avoid this grim scenario, we must focus on educating citizens to embrace critical thinking. The future of the metaverse depends on our ability to do so.

#7 Targeted Ransomware

Targeted ransomware is a significant cybersecurity trend that cannot be overlooked. This threat is especially prevalent in developed nations where industries depend heavily on specialized software. Recent attacks such as the Wanna Cry attack on the National Health Service hospitals in England and Scotland underscore the severity of this issue, with over 70,000 medical devices being affected. Although ransomware typically involves threatening to release the victim’s data unless a ransom is paid, it can have a severe impact on large organizations and even entire nations. Stay vigilant and take steps to protect your data against this growing threat.

Conclusion

These seven trends in cybersecurity are the most important to be aware of and actively protect against now and in the future. From the ubiquity of IoT devices and AI technologies to targeted ransomware attacks, it’s essential for organizations to stay informed and take proactive steps to mitigate risk. Cyber insurance can help provide financial protection against cyber threats, but businesses must also provide protection against hackers to avoid loss of user trust and loss of sensitive data.

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