Losses resulting from cybercrime are anticipated to reach an astounding $8 trillion in 2023 and rise to $10.5 trillion by 2025, making it a significant global concern. These are enormous financial losses that are comparable to the national economies of several nations.
As the majority of people’s personal information is accessible to the general public online, digital security has emerged as a top priority for governments, businesses, and even individuals in light of these facts. With the advent of the digital age, cybersecurity has become everyone’s top priority.
Following are a few of the major developments that are influencing cybersecurity globally:
1. Rising Trend Of Hacking Vehicles
Although it may seem like something out of the movies, automotive hacking is amongst the freshest threats plaguing the world. Vehicles are increasingly moving towards self-driving and are loaded with a plethora of modern driver aids that facilitate safer and more ingenious driving. However, the risk of hacks is putting the entire infrastructure at risk.
Since modern vehicles have innovative communication abilities and are constantly connected to the World Wide Web, their systems can be compromised. Auto manufacturers need to, and some of them are indeed stepping up their cybersecurity protocols to ensure that malicious elements can’t take advantage of their systems to put motorists in harm’s way.
2. Increased Number of Individuals Pursuing A Certification or Degree In The Field
The number of people enrolling in different educational programs and certifications has significantly increased due to the growing need for cybersecurity specialists. Because there continues to be a shortage of talented people in many organizations, businesses are eager to pay top dollar for those who have the necessary skills.
The educational offerings, including degrees and short courses now available from schools across the globe, have come to include modern cyber security course curriculum, and this trend will continue. Since there is a demand for skilled professionals in the market, universities are and will continue to feel the need to fill this gap by training individuals and imparting the knowledge they require to work in this field.
3. Artificial Intelligence and Machine Learning are Fueling Considerable Change
Machine learning and artificial intelligence are practically driving most industries forward these days. These predictive solutions assist conventional processes, eliminating the need for redundant tasks to be performed manually and streamlining various operations. These technologies are also being used to develop sophisticated cybersecurity protocols.
On the other end of the spectrum, though, cybercriminals are utilizing AI for all the wrong reasons. They are leveraging this state-of-the-art technology to create ingenious viruses and curate attacks against modern systems. This is a pertinent threat that, although experts are working to counter, can hit global networks quite drastically if and when launched full-scale.
4. Targeted Ransomware Attacks are Returning Again
Ransomware became a pertinent threat during the pre-COVID years, with many leading entities and government establishments witnessing these types of data breaches. Now, the trend is returning. Ransomware entails a type of hack where sensitive information is compromised and the hackers demand a certain amount of money, or else they threaten to publish the data publicly.
In 2019, there were hundreds of instances where financial institutions, healthcare facilities, and other administrative departments around the world were hit. Millions of customers had their personal information compromised. However, then the threat receded. Unfortunately, it is back now, and hackers are stronger than ever.
5. Automation and Centralized Connectivity to Facilitate Cybersecurity
Given the fact that data caches are expanding day by day due to their extensive usage and practical applications, there are certain protocols that are needed to provide more regulatory as well as security oversight to it. Cybersecurity professionals and software engineers are under mounting pressure to introduce effective and relevant solutions, which is why automation has an important role in the equation.
By introducing automated processes into the daily operational mechanism, security systems can be strengthened as they can eliminate many loopholes that hackers can exploit. It also helps protect the data caches most vulnerable to attacks, as this is the information that cybercriminals are really after.
6. Rising Threat to Cloud Servers
With modern work dynamics shifting and most companies encouraging remote work, cloud systems have become necessary. Since they are also substantially more secure, organizations prefer to store most of their data over them. However, hackers are now targeting these servers to get their hands on a goldmine of data they can leverage in the wrong ways.
Even industry juggernauts like Google have reported hacker losses of user data from cloud infrastructures in the past. Since compromising systems running on the cloud can jeopardize crucial technology for the future, this is another topic that merits attention, given how much the cloud is anticipated to expand in the upcoming years.
7. The Vulnerability Of Smartphones and Tablets
Nowadays, a growing portion of data traffic is based on mobile devices. Smartphones are useful data storage devices that save images, financial data, and a variety of other private information. As a result, hackers frequent these devices since they can access all the information they require in a single location. Therefore, it is not surprising that specialists believe that over the next few years, there will be a nearly fifty percent rise in the occurrence of mobile viruses.
Given the global reliance on mobile gadgets by both people and businesses, this development is already worrisome. Moreover, most field-based employment is becoming mobile as a result of technological advancements. For instance, software put on laptops or tablets can now be used to manage various heavy machines. Any of these electronic devices can be compromised, giving hackers access to potential sources of serious harm.
8. IoT – Risk and Opportunity at The Same Time
The concept of the Internet of Things is not new. It has been around for a long time and has even gotten into consumer goods. However, in the era of 5G high-speed internet, the global network of devices is exposed to newer dangers because even a small software flaw might threaten the entire grid.
Despite widespread support for 5G, the technology is still relatively young and needs a lot of research before all cybersecurity flaws can be effectively dealt with. As time passes, more improvements will be made to make 5G and related technologies safer. Another trend to keep an eye out for is this one.
The threat posed by cybercrime led to the development of the field of cybersecurity. The threat still exists, and as a result, security protocols must be developed quickly. A great method to continue working on different solutions and be proactive amid impending threats is to keep up with the most recent changes and developments in this area.