5 Security Trends to Watch in 2024

Artificial intelligence (AI) and geopolitical instability will continue to disrupt businesses in 2024 and put pressure on their cybersecurity strategies to keep pace.

AI is an enemy and an ally

The bad news is that threat actors will continue to use AI, including generative AI, to try to steal your data and compromise your IT infrastructure through smarter social engineering. But even as AI-assisted attacks are expected to increase in 2024, security providers are going to leverage AI to improve cybersecurity tools.

More compliance obligations

You can expect the internet to get more regulated which means you will have more obligations as part of your efforts to secure your data. The UK recently passed its Online Safety Law, and Canada is working on similar legislation. This past year the European Union and the Federal Communications Commission both recommended additional data breach reporting requirements to be introduced in 2024.

Quantum encryption is coming

While it’s several years away, quantum computing will likely be able to thwart today’s encryption, so efforts are already underway to counter the threat through hardware-based protection that will require a transformation of existing IT infrastructure.

Beware nations, not just thieves

Nation states will invest in new technology such as AI and quantum computing to create and distribute malicious tools to not only achieve more scale, but also increase deniability. Expect “ransomware-as-a-service” to be expanded to more attack surfaces. The amount of investment necessary exploit these technologies will also see governments look to assist small and medium-sized businesses with their security investments in 2024 – Australia and the U.S. have already begun.

Get ready to fight on the mobile front

Security strategies in 2024 are poised to be mobile-first as mobile apps have become so dominant. Even with Runtime Application Self Protection (RASP), it’s still easy for threat actors to turn mobile apps into weapons to attack backend systems and APIs. The year ahead will require increased adoption of mobile security.

These aren’t the only things organizations need to worry about going into 2024, so tapping into the expertise of a managed service provider with a focus on security should be your top resolution of the new year.

There are many ways artificial intelligence (AI) and machine learning already impact cybersecurity. You can expect that trend to continue in 2024 – both as tools for data protection as well as a threat.

Balancing Cybersecurity Innovation Amid Evolving Threat Landscapes

Even as you implement AI and machine learning into your cybersecurity strategy through the adoption of tools like Security Orchestration, Automation, and Response (SOAR), Security Information and Event Management (SIEM) and Managed Detection and Response (MDR), so are threat actors. They will continue to update and evolve their own methodologies and tools to compromise their targets by applying AI and machine learning to how they use ransomware, malware and deepfakes.

With small and medium-sized businesses just much at risk as their large enterprise counterparts, SMBs must take advantage of AI and machine learning as mush possible. AI-directed attacks are expected to rise in 2024 in the form of deepfake technologies that make phishing and impersonation more effective, as well as evolving ransomware and malware.

Deepfake social engineering techniques

Deepfake technologies that leverage AI are especially worrisome, as they can create fake content that spurs employees and organizations to work against their best interests. Hackers can use deepfakes to create massive changes with serious financial consequences, including altering stock prices.

Deepfake social engineering techniques will only improve with the use of AI, increasing the likelihood of data breaches through unauthorized access to systems and more authentic looking phishing messages that are more personalized, and hence, more effective.

Countering Cyber Threats and Harnessing Innovation in 2024

If hackers are keen on leveraging AI and machine learning to defeat your cybersecurity, you must be ready to combat them in equal measure – just as AI and machine learning will create new challenges in 2024, they can also help you bolster your cybersecurity. While regulations are being developed to foster ethical use of AI, threat actors are not likely to follow them.

AI will also affect your cyber insurance as your providers will use it to assess your resilience against cyberattacks and adjust your premium payments accordingly. AI presents an opportunity for you to improve your cybersecurity to keep those insurance costs under control.

Conclusion

There’s a lot of doom being predicted around the growing use of AI and machine learning. And while it does pose a risk to your organization and its sensitive data, you can use it to bolster your cybersecurity even as threat actors leverage AI to up the ante. A managed service provider with a focus on security can help you use AI and machine learning to protect your organization as we head into 2024.

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