5 Cybersecurity Challenges and Trends
10
Aug

5 Cybersecurity Challenges and Trends

The predicted 3.5 million new unfilled cybersecurity jobs by 2021 is a 350% increase since 2016. The growing role of cybercriminals would lead to the massive growth in cybersecurity jobs over five years. Now to pool the skilled human resource and improvise the infrastructure, the businesses are investing money remarkably into cybersecurity requirements.

The cybersecurity industry is evolving continuously with growing challenges and threats. The threats that the industry dealt a few years back are no more challenges. The expected threats now appear to be challenging unless the industry overcomes the repercussions. So let us see what are ongoing and the upcoming challenges that the cybersecurity industry is going through.

Cybersecurity Challenges and Trends:

1. Ransomware Attacks

There is nothing worse than something that spreads and latches on confidential information, that can only be removed after meeting the extreme demands of cybercriminals. Ransomware has been a bane to cybersecurity. The attacks are multiplying, and there are no signs of it slowing down.

Ransomware attacks cost businesses around $75 billion every year, and the attacks have increased by 97%, when compared to the past two years. By 2021, ransomware attacks are expected to target a business every 11 seconds. [1]

While ransomware attacks are a matter of extreme concern, businesses continue to disregard the need for strong prevention methods. Around 68% of small businesses don’t have a written disaster recovery plan, even though half said that it would take three months for them to recover from an incident. [2]

The disaster recovery plans of yesterday may not work for today’s ransomware attacks. The plan needs to be updated every year, published and circulated at all levels.

2. Expansion of Artificial Intelligence

The is an expected increase of $2.5 billion in spending to prevent cyberattacks. [3] Cybersecurity personnel are taking every precaution to use AI-powered robots to defend against incoming cyberattacks.

Timing is crucial when it comes to fighting malware while it is downloading. If you can mitigate the virus before it downloads, you can stay secure. However, should the breach occur, recovery takes priority where security professionals rarely get the opportunity to deal immediately. Since artificial intelligence can work continuously, it can defend against malware as soon as it begins to download. For this reason, the coming years would witness a collaboration between human and artificial intelligence everywhere.

3. Threats from IoT

The vast majority of the population in first-world countries carry a smartphone in their pocket, a laptop at work, a tablet in cars and smart television at home.

In research performed by Pew Internet, nearly 96% of Americans own a smartphone which is 81% up as against 35% in 2011. Nearly 75% of American adults own a desktop or laptop, while approximately 50% uses tablet computers and e-reader devices. [4]

The Internet of Things is aimed at connecting every single device, and an exaggeration could be your refrigerator reminding you of the vegetable that you may go short-of. When Alexa can order pizza today, it can also book your vacation plan based on your preferences. You no longer need multiple devices, and you can access television, air condition, or even microwave with only one device.

The real issue lies with the interconnectivity that is making consumers highly susceptible to cyberattacks. In a study conducted by Metova, it was observed that only 20% of consumers have a true understanding of IoT and remaining are not aware of the consequences to their privacy. [5]

Evidently, more convenience brings more risk. The interconnectivity feature of IoT devices is throwing a challenge to security professionals. The security staff needs to suggest tools and methods that a consumer can adapt to secure from the consequences of IoT connectivity.

4. Serverless Apps

Serverless apps face high criticality of cyberattacks. When users access your application off-server on their devices, their information is at risk. When the data is stored in the cloud, the consumers will be controlled by the security measures. With serverless applications, security precautions become the responsibility of the user and the consumers may not be aware of the vulnerabilities that they can attract.

Serverless apps are used commonly as web service or data processing tools. But with so much insecure operation of serverless apps, they don’t seem to be used in the years to come. And if you are using one, then take all the required precautions for the sake of your business integrity.

5. Blockchain Revolution

The year 2017 witnessed a massive rise in the valuation of cryptocurrencies, and that is how the blockchain revolution introduced. With respect to blockchain, the security professionals are making their most attempts to explore, implement, and bring new cybersecurity solutions. The decentralized and secured transactions make the blockchain a matter of curiosity among security professionals. The businesses are targeting rising utility with blockchain that would enable from decentralized access control, medical records management, etc. As the implementation of blockchain in cybersecurity evolves, there will be unexpected complications and also complimentary integrations with tradition, proven, cybersecurity approaches. Blockchain may change the landscape of cybersecurity.

Every passing year is bringing a new range of cyberattacks as well as new defense mechanisms. We can expect ransomware to evolve, artificial intelligence to introduce new solutions, IoT to throw complex problems, less integration on serverless apps, and blockchain to gain momentum.

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