Companies all over the world are making significant investments in cybersecurity because it has become an essential service. New cybersecurity trends emerge annually, making it vital that businesses have professionals on top of the industry’s latest news and techniques.
The gist is that criminals are constantly trying to steal information from organizations all over the world. This data could contain trade secrets, financial information, confidential documents, and various other data you wouldn’t want falling into the wrong hands.
Having a solid cybersecurity strategy can help you keep this valuable data private, and that means it’s crucial for your IT team to stay updated on the latest trends. Failing to remain at the forefront of the industry could leave your cybersecurity experts falling behind, making you vulnerable to attacks.
The good news is that you can stay up to date on the latest practices yourself and question your cybersecurity team about the steps they’re taking. Here’s a look at some trends in the cybersecurity industry, including how potential attacks can occur and what cybersecurity companies are doing to prevent them.
Why Trends Are Changing
There’s usually a catalyst when new trends in cybersecurity emerge. It doesn’t make much sense to adjust when things are working, after all, so these trends typically occur reactively when either cybersecurity experts or criminals gain an advantage.
The last couple of years are slightly different from the norm because office buildings haven’t been operating at full capacity. This trend has created challenges in the cybersecurity industry. We’re entering a new normal as far as the workplace goes, which is bringing new security threats to the forefront all the time.
The increase in people working from home opens up employee devices to new threats and creates a need for different ways of monitoring attacks. The remote workforce doesn’t seem to be going anywhere anytime soon, so trends in the cybersecurity industry are adapting to this new normal. One reason is that remote workers still have to access company servers, opening them up to additional problems along the way.
Technology is constantly evolving, which means new methods of protecting data will become necessary. This trend isn’t necessarily contained to 2021, as the cybersecurity industry is always looking for weaknesses in these new devices and finding ways to keep people’s personal information safe. Developers, however, are always trying to get ahead of the market with new smartphones, wearable tech, IoT devices and others – and each one represents a potential security threat.
With advancements in technology come new ways of stealing data. Criminals are getting more creative all the time, so trends in cybersecurity emerge based on how these individuals attempt to gain access to data.
Trends are constantly emerging in cybersecurity, either reactively or proactively. Keeping an eye on what professionals in this industry are doing allows you to stay up to date on the latest information available.
10 New Cybersecurity Trends to Keep an Eye On
The world of cybersecurity is constantly evolving, as it’s a fast-moving industry that often requires real-time updates. Trends both inside and outside the industry are creating challenges, but some innovations are helping cybersecurity experts too. Here’s a look at what’s happening:
1. Remote Work
The increase in remote work is one trend that is causing problems for cybersecurity professionals. A distributed workforce must access company servers, so monitoring software on these remote devices is often a must when keeping them safe. Hackers are also going after cloud servers because they know that companies are storing highly sensitive information there.
2. Multifactor Authentication
More companies are using multifactor authentication than ever before, which acts as an additional defense against attacks and data breaches. The idea is that employees will use a password to access their data and will then have a one-time passcode sent to a separate device to authenticate themselves. This trend is a bit of a pain for workers trying to access their documents, but it helps keep this data safe.
One of the greatest threats to organizational data security in 2021 is ransomware. These attacks aren’t new, but they’re becoming the chosen method of stealing data and sometimes extorting money from companies all over the world. This technology is becoming increasingly sophisticated, and it’s in every business’s best interests to reduce their burden as much as possible.
4. Use of AI
Cybersecurity experts are taking advantage of artificial intelligence at greater levels than ever before, allowing them to build systems that analyze massive amounts of data and automate portions of the security system. AI can replace human intervention in many situations, making business systems more secure. It’s worth noting, though, that criminals are also using AI to automate attacks on organizations.
5. COVID-19 Phishing Schemes
The pandemic has changed our lives considerably, and criminals take advantage of the fear and uncertainty to steal data. Phishing attacks using the tragedy have become more common, often with emails claiming to have information on vaccines and seeking employee health care information. We could see this trend rise in locations that adopt vaccine passports as well.
6. Organizational Data Privacy
Businesses are increasingly taking matters into their own hands rather than relying exclusively on their cybersecurity teams to eliminate threats. Data privacy rules are becoming common in offices around the country, including implementing corporate strategies that help keep this information safe. New trends include hiring data privacy officers, destroying records, denying access to some individuals, and encrypting data transfers within the office.
7. Insider Threats
It’s unfortunate to learn that cybersecurity threats are increasingly arising from inside organizations. This trend is growing alongside the move to a more remote workforce and the fact that businesses are hiring more remote-only or offshore employees and providing them with credentials. It’s not just employees, either: Trusted business partners are another problem area. There’s a good chance we’ll see companies cracking down on insider data breaches because they’re responsible for 15% to 25% of all incidents.
8. The Need for Real-Time Intervention
It’s becoming vital that organizations have a real-time data visibility system in place to prevent data loss. Companies with IT departments could have an individual or automated system continually monitoring data transfers to ensure there aren’t any threats. This heightened real-time security is becoming necessary to minimize exposure, and it can also improve operational efficiency in the process.
9. Updating Systems
Companies with old or outdated systems are at a far greater risk than those with updated arrangements. The result could be a move toward updating IT systems within organizations in 2021, as patchwork solutions are creating vulnerabilities. Cybersecurity threats are evolving rapidly, so it makes sense to use newer technology to combat these criminals instead of relying on outdated systems.
10. Hiring New Experts
More organizations are seeing value in hiring a specialized cybersecurity workforce. Many businesses are looking for qualified individuals to fill the chief security officer position, and they’re also bringing more industry professionals into the fold. Prioritizing cybersecurity in hiring makes it far more likely that these companies will keep their data safe as new trends emerge.
It’s entirely up to business executives and owners to watch emerging cybersecurity trends and ensure they have the necessary protections in place. Knowing what industry experts are recommending is a good step in securing your organization’s data and preventing potential breaches in the future.
Challenges Presented by Cybersecurity Trends
The newest trends in the cybersecurity industry are worth keeping an eye on, particularly because they offer challenges to any business team. Some issues in addressing the above cybersecurity trends include:
They Might Not Be Permanent
Cybersecurity moves incredibly quickly, so what’s at the forefront in 2021 could be obsolete in 2022. It’s a good idea to consult with industry professionals before changing your company strategy to ensure the trend you’re looking at is durable.
New Tools Are Always Emerging
Trends update quickly in the industry as well, on both sides of the battle. Cybersecurity professionals could hypothetically, for example, decide that AI isn’t working anymore and adjust their recommendations. Cyberattackers, likewise, will undoubtedly find new ways to do their damage. This reality causes issues for organizations that go all-in on a particular technology too quickly.
Things Could Change
The COVID-19 situation has led to a lot of uncertainty that could influence where employees are working in the coming months and years. We don’t know if the remote workforce is permanent or not, so putting too many resources into protecting off-site devices might not be worth it for some organizations.
Considering the potential drawbacks before investing in a particular cybersecurity strategy is advisable because it could save the company money while keeping risk to a minimum. You’ll want to carefully examine these trends for their longevity before making a long-term commitment to addressing them.
The Future of the Cybersecurity Industry
These trends show that cybersecurity is constantly evolving by necessity. This continual movement in the industry is an essential feature for investors because organizations that don’t stay up to date on the trends or change with the times could find themselves struggling to make the most of these assets.
Option3Ventures is a cybersecurity investment specialist that combines decades of experience across the entire investment industry with national security expertise to create a mission-driven private equity firm. We understand how this industry works, helping us invest in cybersecurity organizations with a solid future. Contact Option3Ventures for tips or more information on cybersecurity investing.