IBM describes cybersecurity as “… the practice of deploying people, processes, policies, and technologies to protect organizations, their critical systems, and sensitive information from digital attacks.” And now, cybersecurity is no longer just a corporate concern, as hackers, cybercriminals, and identity thieves have wormed their way into most homes and privately owned businesses. With the explosion in remote work and rapidly evolving technologies, the opportunities opened to bad actors and well-funded cybercrime organizations left companies and private citizens alike vulnerable to everything from a simple email click at home unleashing malware into a laptop to major companies paying as much as $40 million in ransom to reclaim their network and data.
In the recently published article “Alarming Cybersecurity Stats: What You Need To Know In 2024”, Forbes contributor Chuck Brooks updated his yearly report and didn’t sugar-coat his disturbing findings, including:
- 93 percent of businesses had two or more identity-related breaches in the past year
- Over 33 percent of all companies lack cloud cybersecurity skills
- 43 percent of data cannot be recovered after an attack
- Nearly 4,000 new cyberattacks are occurring each day
- There will be a critical security skills shortage in the next two years
IT Governance underlined the magnitude of the threat in their blog, Data Breaches and Cyber Attacks – USA Report 2024, citing that in April 2024 alone, over 4 billion messages and 48 million people’s data was breached – just in the three largest breaches that month. With Google only blocking approximately 100 million phishing emails each day out of the 3.4 billion sent, it can seem like an unwinnable battle. Continued pressure from decentralized digital capabilities, lack of security talent, AI and IoT, and unsafe employee behaviors make robust and all-encompassing cybersecurity solutions imperative for organizations to safeguard themselves against threats. Keeping an eye on cybersecurity trends like those we’ll talk about here can give insight into strategies you can adopt to stay vigilant and protect your digital assets.
AI, GenAI, and Machine Learning
The integration of Artificial Intelligence (AI), Generative AI (GenAI), and Machine Learning (ML) into cybersecurity strategy introduces predictive data and network traffic analysis and continuous threat detection with immediate response capabilities. While these applications are still just beginning to see security stack implementation, wider adoption is expected to defend against cybercriminals who have started to utilize these technologies in their schemes.
Quantum Computing
Quantum computing uses highly specialized technologies, algorithms, and hardware that utilize quantum mechanics to create multidimensional computational spaces to solve complex problems that traditional and even supercomputers can’t solve fast enough (or at all) due to their binary nature. Quantum computing will usher in next-generation, enhanced encryption methodologies that will likely render current encryption standards obsolete. This will lead to the need for quantum-proof encryption methods to safeguard data in the future.
Endpoint Security
With the sharp rise in employees accessing their data from multiple devices and locations, remote work increased the need for endpoint security exponentially. Solutions for endpoint security involve multiple platforms to secure remote devices and connections in real time and have become an essential component of risk mitigation.
Unsafe Employee Behavior
With the number of cyberattacks increasing and cybercriminals’ evolving creativity, it’s not surprising that most data breaches are due to human error, as much as 95 percent according to some sources, with ground-level workers to C-level executives alike being vulnerable. Sometimes, something as simple as a malicious email constructed to look as if it originated from within the organization can bring down the whole network. Creating a vigilant, security-focused culture through cybersecurity education and training is a fundamental piece of a strong cyber defense.
Third-Party Risk
Supply chain attacks are an increasing threat, finding weaknesses in supply chain and third-party vendors’ networks to extract sensitive data from their primary targets. These bad actors can infiltrate networks and are often knowledgeable in traditional security measures, knowing how to make response and remediation difficult. Coordinated strategies with partners to minimize exposure points and maximize risk management effectiveness are becoming a larger part of many companies’ security architecture.
With the digital landscape evolving at a dizzying speed, these are just a few focus areas in the difficult challenge that modern businesses face to protect their most valuable data, assets, and reputation. From the theft of sensitive information to the extortion of money through ransomware attacks, the types of security risks to your company’s data are varied, ongoing, and expensive to remediate.
At Xtel, our highly experienced professionals design a layered security approach for each client’s unique needs, using solutions compatible with legacy and current devices and systems. By deploying advanced behavioral analytics and machine learning, we continuously monitor activity across endpoints, identifying behavioral anomalies to detect emerging attacks in real-time. Our Xtel eXperts will regularly assess your infrastructure with Penetration Testing and support and elevate your security culture with ongoing awareness training. Our vendor-agnostic Managed Extended Detection and Response (XDR) and Security Operation Center as a Service (SOCaaS) solutions give your business the 24/7/365 protection you need.
Talk to one of our eXperts today, because cybercriminals never sleep and neither do we. Call, email, or message us here – and we’ll help secure all the technological aspects of your business.
