Cyber Security Trends in 2024: Staying Ahead of the Curve

Despite this alarming frequency of cyber threats, merely 31% of businesses have reported having a formal strategy to develop an all-encompassing cyber resilience within their organizations. One contributing factor to this deficiency in cybersecurity initiatives may be the overwhelming nature of the challenge. The rapid recurrence of cyber assaults can make any security blueprint seem insufficient. However, by keeping abreast of the latest security trends, embracing cutting-edge innovations, and strategizing for the year 2024, organizations can gain a competitive edge in fortifying the security of their critical data.

Let’s delve into the forthcoming security trends to anticipate in 2024.

Artificial Intelligence (AI) and Machine Learning (ML) in Security

Utilizing Artificial Intelligence (AI) and Machine Learning (ML) within your cyber security strategy in 2024 offers a distinct advantage to end-users.  Leveraging predictive analytics and AI to scrutinize threats equips IT teams with enhanced capabilities to assess and filter threats with superior intelligence, speed, and precision, without imposing additional burdens on your team or the end users.

However, there exist two primary challenges in this arena. Firstly, there’s the need for human intervention to guide AI in identifying potential threats. Security partners such as Abnormal Security specialize in creating this connection by leveraging their platform equipped with the latest information on prevailing attacks and anomaly detection, streamlining this process for your convenience. The second challenge pertains to the investment required to integrate AI and ML technology into your existing infrastructure. While the initial costs might seem substantial, it’s essential to recognize the considerable benefits. According to IBM’s Cost of a Data Breach 2023 global survey, the implementation of AI and automation resulted in a remarkable $1.8 million reduction in data breach costs for organizations. Moreover, these technologies significantly expedited the identification and containment of data breaches by an average of over 100 days.

Cybersecurity Skills Gap

The shortage of cybersecurity professionals with the skills needed to protect organizations from cyberattacks has been a significant and ongoing concern in the field of cybersecurity for several years. According to Forbes.com, 54 percent of cybersecurity professionals acknowledge a worsening impact of the skills shortage within their organizations over the last two years. Despite concerted efforts by organizations to stay abreast of evolving trends and recruit more adept security professionals, the demand for such specialized skills consistently outpaces supply.

Consequently, businesses are increasingly turning to managed security services and vCISO (Virtual Chief Information Security Officer) solutions as viable alternatives to bridge their internal security gaps. Reach out to our team for more information on Comport’s vCISO offering.

Quantum-Safe Encryption

Quantum-safe encryption, also known as post-quantum cryptography, refers to cryptographic algorithms and techniques designed to remain secure against attacks from quantum computers.   Encryption, a familiar concept, involves transforming data into a code that only the intended recipient can decode. It serves as a crucial defense against data breaches in the 21st century.

Quantum computers, due to their ability to perform complex calculations at a speed that surpasses classical computers, pose a potential threat to many existing encryption methods. If a quantum computer is tasked with decoding encryptions, it could potentially outpace the traditional standards. According to the National Institute of Standards and Technology Report on Post-Quantum Cryptography, quantum computing might start this process as early as 2030.

Adapting to this changing landscape will necessitate the adoption of quantum-resistant cryptographic algorithms to maintain data security. This isn’t just a trend for 2024 but a long-term consideration that could extend well beyond this decade. Keeping a keen eye on the advancements in quantum computing will be crucial to anticipate the growing demand for more sophisticated encryption methods.

Cloud Security

The increasing trend of data migration to the cloud signifies the growing importance of cloud security. The security of cloud infrastructure, data, and applications profoundly influences the overall integrity of your cloud systems.

While the cloud offers convenience, scalability, and user-friendliness, its security may not always be as robust as necessary. A recent study found that in 2022, 39% of businesses encountered data breaches within their cloud environment, signifying a considerable gap in cloud security measures.

For your company, this underscores the urgency to enhance cloud security without delay. One significant area of concern is tightening access control measures. Are access restrictions clearly defined and well-communicated across your organization, or do they rely on unwritten norms? Organizations must limit data access to individuals strictly based on their roles and mandate the use of multi-factor authentication at critical interaction points. Offerings like IaaS or HPE Greenlake platform are also ways organizations are creating a faster path to updated security measures as a cyber security trend in 2024.

Another key area to consider within cloud environments is implementing a robust backup scheme.  This methodology must include an air-gapped backup system tailored to your business that protects your organization against ransomware attacks. This backup mechanism ensures a “walled off” and secure data repository, enabling swift recovery in case of a disruptive event, ensuring minimal downtime for your operations.

Endpoint Security

A persistent challenge for businesses lies in maintaining security through consistent patch management and administrative rights control. Modern endpoint security solutions offer tools to streamline these processes. For instance, when a new patch is released, these solutions provide alerts and offer the option to execute the updates. Without these streamlined procedures, teams must vigilantly monitor and apply updates manually, which can be arduous. Additionally, these solutions can notify and confirm any system rights modifications for specific user roles, thus flagging any irregularities in these roles.

Another endpoint consideration is the surge in remote work has become increasingly prevalent. Approximately 28% of all employees in the US now work remotely in some capacity. While remote work offers convenience and cost-saving benefits by reducing the need for extensive office space, it does present challenges for data protection strategies. To adapt to this shift, it’s crucial to integrate endpoint-centric security analytics platforms, also known as Endpoint Protection Platforms (EPP). These advanced technologies cater to diverse work environments by leveraging Endpoint Detection and Response (EDR) and Extended Detection and Response (XDR) to focus on monitoring and securing endpoints (such as computers, servers, mobile devices, etc.), not solely the confines of a physical office. This approach allows for a more comprehensive security perspective that considers the broader spectrum of work locations and devices utilized by remote employees.

Identity and Access Management (IAM)

IAM solutions are growing more sophisticated. This gives you the capacity for more granular control and a better user experience—without losing high-quality authentication methods.

As Microsoft notes, “One reason IAM is an important part of cybersecurity is that it helps an organization’s IT department strike the right balance between keeping important data and resources inaccessible to most but still accessible to some. IAM makes it possible to set controls that grant secure access to employees and devices while making it difficult or impossible for outsiders to get through.”

As the Internet of Things (IoT) also expands, securing employee access through IAM will become increasingly important to prevent these endpoint vulnerabilities. The better your IAM is, the more your company can scale, including with remote work.

Ransomware Mitigation

As ransomware attacks grow in complexity, organizations will need more robust strategies to detect and respond to them as quickly and effectively as possible. Build network backups and updates into your security routine. Create and publish organization-wide cybersecurity policies. And regularly review the devices through which ransomware can infiltrate your data.

Ideally, you’ll use data security platforms that also promote good habits, like practicing good password “hygiene.” But if you aren’t doing that already, now may be the time to consider reinvesting in your ransomware protection for 2024.

Regulatory Compliance and Increased Cybersecurity Regulations

Both GDPR (General Data Protection Regulation) in the European Union and CCPA (California Consumer Privacy Act) reflect a growing trend of empowering consumers with control over their data. These regulations advocate strongly for safeguarding the integrity and privacy of consumer information.

In the upcoming year, the trend of regulatory compliance is expected to persist. The crux of navigating this landscape lies in prioritizing the consumer’s perspective: maintaining transparency regarding data policies, implementing robust measures to safeguard consumer data, and investing in platforms and technologies that facilitate these processes. Upholding transparency in data practices, ensuring the security of consumer data, and utilizing tools to streamline compliance will continue to be crucial strategies for organizations operating within these regulatory frameworks.

Watching Out for Security Trends and Changes in 2024

Data security is becoming increasingly crucial as our daily lives become more digitally oriented. Staying ahead of the curve in data security requires proactive strategies, including the adoption of emerging technologies such as AI and ML platforms, ongoing employee training, and seeking expert assistance when necessary.

To effectively address your security needs, it’s wise to explore partnerships with organizations like Comport that specialize in providing comprehensive security solutions and expertise. By leveraging their knowledge and resources, you can enhance your data security posture and mitigate potential risks in the evolving digital landscape.

Reach out to Comport for help with your security needs.