The Top Cybersecurity Predictions for 2024

In 2024, companies will lose an estimated 10.5 trillion dollars due to cyberattacks. This could be daunting to small and medium businesses or SMBs, but we can predict the 2024 cybersecurity trends so SMBs are ready for the 2024 digital landscape. Here are some of the cybersecurity predictions for 2024:  

Cyber Warfare: As global tensions rise everywhere, it shouldn’t be shocking to many that cyber criminals could use cyber warfare in the future. Cyber Warfare is something the government and big organizations should monitor, especially with elections being held in 2024 for many countries, including the US. It’s important to note that while most cyberattacks have monetary intentions, with cyber warfare, the intentions are most of the time aimed at disruption. Some examples of the disruption cyber warfare may cause are economic disruption, military disruption, or disruptions to utilities. Cyber Warfare isn’t the only thing we should look out for though.   

AI’s impact on cybersecurity: With the sudden rise in AI, it would be naïve of us not to consider that it won’t impact cybersecurity in the future. We can predict that AI will be able to utilize deep fakes to automate malware in the coming months. A deepfake is a video of a person that was digitally altered so they can appear to be someone else. Deepfakes are a tactic people use to scam people. With AI, it becomes more accessible. Another prediction with AI is that it can create phishing emails almost identical to a specific business or organization. Cybercriminals can start these phishing emails with something as simple as ChatGPT.    

An Increase in IoT Cyber Attacks: AI isn’t the only attack that can cause problems for organizations. The sudden rise of IoT attacks in 2024 could also disrupt an organization. IoT attacks are typically used as leverage to increase the size of botnets for disruption attacks like DDOS (Distributed denial-of-service).    

IT departments and Cyber Resiliency: With all of these cyber threats, businesses should be prepared for a cyberattack, and this is where cyber resiliency comes in. Gartner predicts that by 2026, 70% of companies will have at least one member with cybersecurity expertise in their company. Cyber resiliency will help companies recover from a cyberattack and is necessary for the 2024 digital landscape. An incident response exercise and test is a fantastic tool to keep your business resilient from cyberattacks. Incident response exercises and testing involves a test attack on your system to see how your company responds to a cyberattack. From there, you can practice your response plan to a cyberattack and see how to handle it better. Vertek offers Incident Response Exercises and testing as a service and can help you plan a proper incident response.    

Contact Vertek to learn more about our cybersecurity services for your business so you can go into 2024 with confidence.     

References: 

https://www.cisa.gov/sites/default/files/publications/Incident-Response-Plan-Basics_508c.pdf