Seclored: The Data Security News Blog

Navigating the Future: Data Security Predictions for 2024

Category: Data Security

A Cybersecurity Renaissance

In 2024, cybersecurity is undergoing a notable shift. Rather than solely focusing on device and perimeter protection, there’s a growing recognition of the need to prioritize data security. Organizations dissatisfied with past experiences in device and network security are placing increased emphasis on safeguarding data wherever it’s stored –in cloud environments or mobile devices.

This era is characterized by the widespread adoption of cutting-edge encryption methods, comprehensive rights management, and sophisticated strategies to prevent data loss. In response to the ever-expanding realm of connectivity, this new phase in cybersecurity is poised to redefine the landscape by placing paramount importance on fortifying data security and privacy. This dual focus seeks to make data more secure and private and enhance digital security’s overall resilience and adaptability.

This blog serves as a succinct guide, providing valuable insights into these critical facets. It equips organizations with the knowledge to navigate a secure and compliant path amidst the ever-changing cybersecurity landscape.

Prediction 1: Emergence of the Artificial Intelligence (AI)

Prediction1 Emergence of AIThe rapid growth of AI is compelling enterprises to refine and update their processes continuously. Integrating AI into data centers is crucial for enhancing efficiency, scalability, and adaptability in handling data’s escalating volume and complexity. Real-time analysis of extensive datasets empowers data center operators to make informed decisions, anticipate issues, and automate resource allocation.

However, this swift integration of AI presents challenges. The rise in cyber threats, driven by advanced GenAI tools, increases risk. The growing integration of AI with business decisions demands solutions prioritizing human safety, operational reliability, and robust ICS/OT cybersecurity. Notably, implementing micro-segmentation in ICS/OT is poised to revolutionize cybersecurity practices, mainly regulating Active Directory usage.

Embracing a data-centric security approach empowers companies to ensure the security and integrity of their data throughout its lifecycle. By doing so, they establish a safeguard that neutralizes potential breaches, rendering data unreadable and unusable to unauthorized individuals.

Prediction 2: Improving Security Standards in Compliance for 2024

Prediction2 ComplianceThe DPDP Act of 2023 has significantly bolstered data protection, paving the way for heightened security standards in the 2024 compliance landscape. This shift necessitates improvements in access controls, secure data storage, and advanced encryption measures. Introducing new regulations is driven by recognizing that cyber threats threaten national security and economic growth. Emphasizing the role of data-centric security becomes paramount in navigating this evolving compliance landscape and safeguarding sensitive information.

Businesses in the UK face the imperative of meeting the minimum security requirements outlined in the Product Security and Telecommunications Act by April 2024 for networked products. Although the EU’s Radio Equipment Directive is slated for implementation in 2025, concerns linger among legislators in 2024. The proliferation of AI underscores the need for an expanding set of rules, laws, policies, and data privacy and ethics regulations.

Strategic prioritization of compliance is imperative for organizations. Programs must be implemented to align current data assets with compliance requirements, utilizing tools for real-time identification of compliance violations. Regulators exhibit a growing willingness to hold companies accountable for customer data use and protection, emphasizing that compliance is an ongoing commitment, not merely an annual task.

The landscape of cybersecurity technology regulations is in constant flux, a trend expected to persist in 2024. Notably, new regulations in APAC mandate enhanced protection measures for mobile banking applications against attacks and fraud. The prevalence of Mobile Threat Defense (MTD) and Mobile Application Vetting (MAV) is set to increase across various industry verticals. The Cybersecurity Maturity Model Certification (CMMC) and the National Institute of Standards and Technology (NIST) stipulate MTD and MAV as integral components of an enterprise or agency’s mobile device security strategy, regardless of their specific vertical, existing controls, or general security posture.

Prediction 3: Zero Trust Cybersecurity for Supply Chain

Prediction3 Supply chainThe escalation of cyberattacks targeting critical infrastructure has prompted a paradigm shift towards “zero trust” models and the implementation of stringent cybersecurity regulations. Organizations must thoroughly assess their third-party suppliers to preclude potential supply chain incidents. Recent breaches have underscored the pressing need for robust security protocols within the supply chain.

The CHIPS Act has been introduced to enhance semiconductor supply chain resilience, fortifying critical infrastructure against cyber threats in response to the growing threat landscape. Developers increasingly become targets through software package managers as supply chain attacks evolve. These incidents serve as a stark reminder of the necessity to secure suppliers’ Continuous Integration/Continuous Deployment (CI/CD) systems. A rising trend is evident in the face of imminent threats to the supply chain and critical infrastructure: more organizations are embracing Zero Trust implementations to bolster their defenses.

Prediction 4: Data Security Gets a Position in the Boardroom

Prediction4 BoardroomCybersecurity has evolved into a critical concern across all industries, transcending its traditional IT focus. By 2026, an anticipated 70% of corporate boards will include at least one cybersecurity expert, facilitating better-prepared responses to security threats and opening avenues for new business opportunities. As regulations intensify and the attack surface expands, the role of Chief Information Security Officers (CISOs) is expanding beyond traditional cybersecurity boundaries.

In 2024, CISOs will streamline security processes for efficiency. They focus on simplifying the security stack, prioritizing ease of use, and adopting a streamlined “one click to rule them all” approach. Amidst tight budget constraints, CISOs face mounting pressure to articulate cyber risks in financial terms to the C-suite and boardroom. Reducing cyber risk has become a top executive priority, compelling CISOs to navigate financial considerations while efficiently addressing the most significant risks.

Crucially, in 2024, CISOs are aligning themselves with boardroom members, recognizing the importance of shared understanding. According to a research firm, only 62% of CISOs believe their boardrooms are adequately informed about cybersecurity. In an era where cybersecurity is unavoidable, CISOs have seized opportunities to educate boards on the proactive and strategic approaches necessary for robust cybersecurity. Gartner’s forecast predicts that by 2026, approximately 70% of corporate boards will have integrated at least one cybersecurity expert, underscoring the growing recognition of cybersecurity as an integral business imperative.

Prediction 5: Rising Significance of Cyber Insurance and the AI Evolution in Cybersecurity

Prediction5 CyberinsuranceA reputed research firm found that cyber insurance is rapidly gaining significance for businesses and is anticipated to evolve further by 2024. Artificial intelligence (AI) is poised to revolutionize how insurance providers assess the cyber resilience of customers, presenting new prospects for direct cybersecurity services. However, it’s crucial to acknowledge that AI, while transformative, isn’t a panacea for all security challenges. Companies must balance security and convenience to shield themselves from cyber threats effectively.

In an era where digital business is becoming ubiquitous, cybersecurity professionals grapple with the challenges of navigating inaccurate information from various cybersecurity solutions and a dearth of robust cybersecurity architecture and design practices. This predicament has resulted in weakened cyber defenses. Looking ahead to 2024, business leaders are expected to recognize the imperative of investing in micro-segmentation. This investment will necessitate IT and security teams to develop cybersecurity architecture and design that aligns with the context of digital business operations. Positioned as the last line of defense during a cyber-attack, micro-segmentation’s panoptic visualization capability will empower security and risk leaders to establish immediate cyber defenses, ensuring business continuity even in the face of severe cyber-attacks.

Prediction 6: Data Risks in Ransomware Defense

Prediction6 RansomwareDespite advancements in ransomware defenses, the forecast suggests an upswing in data loss incidents next year. This uptick is attributed to the expanding repository of sensitive data stored on Software as a Service (SaaS) platforms, creating new entry points for malicious entities to exploit.

Adding to the cybersecurity landscape is the escalating menace of mobile ransomware in 2024. This category of malware explicitly targets mobile devices, enabling cybercriminals to abscond with sensitive data or immobilize the device, demanding payment for restoration of access. Notably, individuals often fall prey to these attacks through social networking schemes, unwittingly downloading ransomware disguised as innocuous content or software.

Findings from Zimperium’s Global Mobile Threat Report underscore the severity of the situation, revealing a staggering 51% year-over-year increase in the total number of unique mobile malware samples detected. This surge underscores the tangible and expanding threat posed by mobile ransomware, emphasizing the need for heightened awareness and proactive measures in cybersecurity.

Prediction 7: Data Security Challenges with the “Human Perimeter”

Prediction7 Human perimeterIn today’s digital landscape, organizations prioritize data security. As technology advances, risks associated with data breaches increase. Human error is a critical factor contributing to these breaches, causing 95% of them. Such errors can be intentional or unintentional and can come from internal or external sources.

In 2024, human error will continue to be a significant cybersecurity risk. Therefore, organizations must address this issue head-on by implementing comprehensive cybersecurity strategies. These strategies should focus on mitigating the impact of human involvement by investing in robust training, awareness programs, and advanced threat detection mechanisms. By doing so, businesses can fortify their human perimeter and enhance their resilience against the evolving cyber threat landscape.

Conclusion

In conclusion, the rise of data-centric security in 2024 marks a significant shift in cybersecurity. Adopting cutting-edge encryption methods, comprehensive rights management, and sophisticated strategies to prevent data loss reflects a growing recognition of the need to prioritize data security.

As AI is pivotal in boosting efficiency, scalability, and adaptability, organizations must prioritize human safety, operational reliability, and robust ICS/OT cybersecurity. The imperative of compliance, supply chain security, and the need for ongoing commitment emphasize the importance of strategic prioritization of cybersecurity.

By staying abreast of the ever-changing cybersecurity landscape, organizations can create a secure and compliant path forward, ready to face any future challenge.

Vishal comes with more than a decade of experience in sales, marketing and business management. He is the Founder and CEO of Seclore and handles corporate development, investor relations and strategic vision.
Vishal is an IIT Bombay (Electrical Engineering) graduate and a specialist in biometric security systems. His ideation in fingerprint imaging led to the development of the core technology behind Herald Logic, a company he founded in 2000. The company showed record 220% CAGR, spreading to Singapore, Australia and UK.
Vishal is also an active participant in physics activities with the IAPT (Indian Association of Physics Teachers) and NSEP (National Standard Examination in Physics), he is amongst the top 1% in the country in physics.
He is an active sports person, a keen blogger on information security solutions and an intrepid speaker at various information security forum.

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