Cybersecurity Trends on the Horizon

The Internet of Things. Debit and credit cards. The cloud. E-commerce. All of these things are part of today’s cybersecurity landscape, and they’re here to stay. They are also vulnerable — hackers have more refined and sophisticated methods of exploiting weaknesses in systems than ever before.

In our recent event with the Colorado Business Roundtable, “Cyber Next: Cybersecurity in the Future: What Every Organizational Leader Needs to Know,” we hosted a panel discussion about cyber threats, with a keynote speech from Criss Bradbury of Deloitte’s Cyber Risk department. Among the panelists were Sean McNeill, Threat Mgmt Expert at Microsoft; Doug Lhotka, Executive Cybersecurity Architect at IBM; and Colin Connor, Director of Threat Intelligence and Cyber Forensics in the AT&T Chief Security Office of AT&T.

Topics addressed at the event were the cloud, the internet of things, and the digitization of workplace processes. These technological advancements, according to the event speaker and panelists, can also leave companies vulnerable to attacks — so they discussed ways to detect them, as well as how to prepare employees to be on the front lines of cyber defense.

Ensuring safe and secure methods for communication and sharing in our increasingly digital world is a priority for organizations everywhere. Adapting to changing digital landscapes and new threats is critical for growth and security. With that in mind, here are a few changes on the cybersecurity horizon.  

Cybersecurity Professionals Are on the Front Lines Against Cyber Attacks

This is no surprise — and it’s a continuation of a trend. But with high-profile cyber attacks like the WannaCry Ransomware attack still fresh in the memory, the importance of a robust cybersecurity department can’t be overstated.

Companies are taking note — according to McKinsey, in the last five years, top companies have dramatically scaled up their IT departments in an effort to promote data security and keep breaches at bay.

This growth is a trend evident across the business landscape. According to SHRM, of the six million open technology jobs, a full two million of them are in cybersecurity. There is a great need for agile, trained, and analytical-minded professionals to fill these roles.

The Cloud Will Continue to Rise

The cloud, or the vast interconnected network that stores, manages, and processes data, will continue to rise in popularity. The cloud is divided into three major categories: infrastructure, platform, and software. This reliance on the cloud, and the vulnerabilities it presents, will spur business owners to invest in IT infrastructure and security measures while continuing to seek secure, cloud-based storage solutions for their business needs.

For example, according to McKinsey, things like supply chains are increasingly interconnected through the cloud. This makes business transactions much easier and more straightforward, but it can lead to immense vulnerabilities — if even one device is “cracked,” a hacker could gain access to the entire cloud of data.

As the Internet of Things Grows, So Will the Need for Cybersecurity

The Internet of Things (IoT) is composed of everyday items, like “smart” vacuum cleaners, garage door openers, refrigerators, coffee makers, “smart” watches, devices like the Amazon Echo, and more. According to a recent study, there will be over 30 billion IoT-connected devices by 2020. The Internet of Things doesn’t require human intervention to collect and share data — it’s collecting and sharing data all the time.

According to Deloitte, “Safeguarding the IoT is complicated by the scale and scope of data being generated and collected, not to mention the fact that much of it is actually held or accessed by third parties.”

This nuanced relationship can make safeguarding the Internet of Things difficult; in an effort to make lives “easier” and collect useful data, many of these companies may be unwittingly exposing users to the risk of data breaches and more. According to IBM, criminal IoT compromises increased by 600% in 2017 alone.

With these changes on the horizon, cybersecurity is a growing priority for organizations and individuals alike. As more and more users and businesses adopt IoT technology and cloud-based computing, it’s clear that robust, proactive cybersecurity solutions are required for continued growth and data security.