Networktigers examines global trends in cybersecurity.
Cybersecurity is a fast-growing field in 2022. New evolutions and trends in how companies do business has incentivized cybercriminal activity and raised the stakes for businesses and individuals. At the same time, there have been a number of advances in the field that have helped cybersecurity become more adaptable, more powerful, and more responsive to ever-shifting threats.
Cybersecurity Statistics 2022
If you find yourself looking to modernize and invest in your own cybersecurity, whether for business or for personal reasons, you are not alone. According to the most recent Global Digital Trust Insights report, 69% of organizations surveyed predicted an increase in their investments in cybersecurity over the next 12 months. Information security and risk management is predicted to be at least a $172 billion industry in 2022. Finally, more than 50% of organizations surveyed said that they observed a noticeable increase in both the amount of attempted data breaches, as well as the overall cost of individual hacks.
And yet, even as cybersecurity becomes more tantamount for businesses and individuals, there is an increased demand to show return on investment in data security measures. Needlessly complex regulations cannot meet the moment; internet actors demand streamlined, simplified fixes with a high level of ease and transparency for everyday use. Some of the growing trends in global cybersecurity offer high rewards, others may fall short.
Growing Trends in Cybersecurity
In the United States and beyond, there has been a drastic push to uncover new fixes and firewalls in cybersecurity, just as the stakes have risen in real time. Have you noticed any of the following global trends in your own business or personal data security practices?
Increased government regulation
Government policies, often slower to adapt than the private sector, have begun to address cybercrime in meaningful ways over the past few years. As cybercrime is predicted to leech $6 trillion out of the global economy in 2022, government regulation has had to become more extreme.
How governments will respond remains to be seen as the situation evolves, however. One option is increased global cooperation and information sharing between foreign governments, in order to corral threats from non-state actors. There may be a shift in jurisdiction that follows suit, allowing cybercrime to be prosecuted across borders, or in International Criminal Court.
Governments may impose harsher penalties on cybercriminals, including expanding financial penalties to include and account for potential loss, as well as actual harm done in a data breach.
Push for privacy
There has been increased scrutiny on the role that Big Tech plays in aggregating consumer data, and in sharing that data with advertisers. In the United States, there has been a growing crisis of confidence around the collection of private data, at the same time as it has become increasingly difficult to opt out of the digital experience. Confusion over federal and state privacy regulation has led to mixed messages. One growing global trend is a push towards internet privacy, as consumers increasingly want to own their own browsing data, and look for more secure and private ways to engage online.
More employee training
One of the most important ways to combat cybercrime is through increased user training, research shows. Individual error remains one of the greatest breakthrough areas in cybercrime. Examples may look like a remote employee who logs in to public or unsecured WiFi in order to send a few work emails, or someone who clicks on an offer in their personal email while using a work laptop.
A growing movement is to develop user training materials that mirror the style and tone of social media, and other easily digestible online content. If training materials can be socially engineered to become more adaptable and even enjoyable for employees, they may be able to better meet users where they are at in their everyday experiences of using the internet.
Multi-factor authentication is one fast-growing trend, particularly when accessing cloud-based networks. In multi-factor authentication, just knowing one password or network configuration is not enough to guarantee access to protected areas. Instead, users must authenticate their credentials by submitting codes sent to separate devices (such as mobile phones or other laptops), in order to reach secure networks. App-based authenticators may also begin to rise in popularity, as they are able to offer encryption layers that standard texts or emails cannot.
Saving Money by Investing in Refurbished Gear
As organizations are faced with rising TCO (Total Cost of Ownership), it makes more and more sense to invest in refurbished or used cybersecurity gear. When choosing refurbished gear, finding reputable sources and experienced dealers is one of the most important factors. Refurbished gear, especially when it comes certified, can be as good as getting new, but with significant savings attached.
While it may seem far-fetched, artificial intelligence may have a significant role to play in the future of global cybersecurity. AI has the ability to scan large data sets while offering risk assessment, when risk is defined as the probability for change. The predictive powers of AI make it a powerful tool against AI-generated attacks.
Following the Trends
Security firm Gartner predicts that by 2025, 60% of organizations will use “cybersecurity risk” as a determining factor when choosing with whom and how to conduct their business. Increasing awareness of cybersecurity, as well as implementing new tools and strategies, can help keep your business and your own privacy safe.
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