6 Cybersecurity Trends to Watch Out for in 2023

While cybersecurity has always been CIOs' and IT leaders' priority, the past couple of years has caused turbulence in the threat landscape.

It's seen that global attacks spiked by 28% in Q3 2022, as compared to Q3 2021. And the average weekly attacks per organization globally touched over 1,130.

With attacks soaring through the roof and security professionals striving to stay a step ahead of the hackers, it's natural to wonder what's coming next?

So in this blog post, we'll discuss what cybersecurity trends will shape 2023 and why IT teams need to buckle up. So let's dive in.

6 Cybersecurity Trends for 2023
The following trends in cybersecurity show how threat actors are becoming sophisticated with their attacks and how to protect your enterprise in 2023.

1.Growing Adoption Of AI/ML
The growing number of attack surfaces and the complexity of crimes make it more difficult for human security professionals to respond to each alert.

The technology learns about normal behavior and traffic patterns, and detects any anomalies as soon as they are discovered. Moreover, machine learning algorithms can track enormous traffic moving across a network, identify patterns, and predict threats.

The adoption of AL/ML is also getting more critical by the day because hackers are known to use ML to identify weak spots in enterprise networks. Therefore, adopting these technologies is not a nice-to-have but a must have.

And finally, an IBM report shows that companies that use AI and automation in security saved an average of $3 million compared to those that don’t.

The adoption of AL/ML is also getting more critical by the day because hackers are known to use ML to identify weak spots in enterprise networks

2.IoT Threats
It is estimated that by 2026, 64 billion IoT devices will be installed world wide.

Devices like Google Home or Amazon Echo drastically enhance the quality of life and make things easier.

However, convenience often shadows the need for security, leaving these devices loosely protected.

For example, a hacker can take control of a medical device and use that to take down the entire hospital network, which will have a negative impact on patient care. Studies show that average cost of breach in the healthcare sector is $10.10M.

3.Rise of Consolidated Security Architecture
With cyberattacks growing at a breakneck speed, becoming more sophisticated, and attacking various surfaces like mobile devices, IoT, and more, alert fatigue is becoming a real concern in the security landscape.

Managing too many alerts, especially false positives, cause burnout or alert fatigue, resulting in decreased IT efficiency

Moreover, to keep up with the growing cyber attacks, companies deploy more security appliances, making managing them even more cumbersome.

A recent report shows that 98% of organizations use multiple consoles to manage their security products, which creates visibility silos. Moreover, 69% admit that prioritizing vendor consolidation would improve security.

This situation catalysts the need for consolidated security architecture that allows enterprises to gain more visibility, reduce costs, and manage everything from a single platform.

Gartner predicts that by 2024, "30% of enterprises will deploy cloud-based Secure Web Gateway (SWG), Cloud Access Security Brokers (CASB), Zero Trust Network Access (ZTNA), and Firewall as a Service (FWaaS), sourced from the same vendor."

4.Building a Security-First Culture
Cybersecurity is often perceived as a responsibility of IT teams only. However, with increasing hybrid work environments, it's getting more important to raise cybersecurity awareness and train everyone in the enterprise to watch out for malicious hackers.

Especially when an average organization is targeted by over 700 social engineering attacks in a year and 1 in 10 of these attacks are business email compromise (BEC), staying a little more alert protects the entire enterprise.

Therefore, companies must embrace different technologies to support multiple environments and take a holistic approach when it comes to cybersecurity.

Gartner predicts that by 2024, organizations adopting a cybersecurity network architecture will reduce the financial costs of security incidents by an average of 90%.

5.Boards Waking up to Cyber Risks
The outbreak of cybercrimes in the wake of the pandemic has made senior leadership, and the boards put the spotlight on cyber risks.

Since cyber-attacks have a firm-wide impact, boards are now considering cyber threats as an enterprise risk instead of something IT should be concerned with.

Gartner estimates that by 2025, 40% of boards will have a dedicated cyber security committee overseen by a qualified board member.

6.Supply Chain Threats
Anything driven by technology poses cyber threats, and supply chains are no exception.

While deploying robust supply chains earns a company a competitive edge, business owners need to evaluate risks that come along to keep their data and customers safe.

Supply chains are prone to cyber risks like data leaks, malware, supply chain breaches, and more such attacks.

But more importantly, ransomware threats are dominating the supply chains. A recent report by Trend Micro shows that ransomware is now found in 25% of data breaches, a 13% YoY increase. And 52% of global organizations have a supply chain partner hit by ransomware.

Therefore, IT leaders must evaluate the cyber threats looming over supply chains and take preventive measures.

The threat landscape is getting more sophisticated by the day, making it harder for companies to cope with malicious threats and stay a step ahead of hackers.

What makes the scenario worse is the rise of cybercrime-as-a-service that allows even non-experts to conduct catastrophic attacks.

Businesses must deploy the latest technology to ward off threat actors, consider security as an enterprise-wide risk, and maintain basic security hygiene to strengthen their security posture.