Cybersecurity has been a serious concern for organizations for some time now. In 2018, 62% of businesses experienced phishing and social engineering. Cybersecurity Ventures predicts that cybercrime damages will cost $6 trillion globally in 2021, doubling the damages in 2015.
In the future, cybersecurity solutions will be more critical than ever for businesses of all sizes, as threats escalate further and cybercriminals take advantage of new technologies.
Emerging AI Technologies
One of the biggest technological developments in recent years is artificial intelligence or AI. Although AI has presented many opportunities and benefits for business, it also represents threats, particularly when it comes to cybersecurity. In the future, we can expect to see hackers using AI technologies to, for example, impersonate real persons in order to get your information.
AI technology will give hackers the ability to predict likely answers to security questions or even pose as a genuine contact in order to solicit information. Either of these scenarios can put confidential information at risk, threatening your business’ data, productivity, reputation, and profits. Cybersecurity solutions will be more vital than ever to help businesses to protect themselves from increasingly complex, AI-enabled attacks. Fortunately, AI technology can also be applied to cybersecurity solutions to keep organizations safe from attacks of this nature.
Email phishing scams
Email phishing scams have been a threat for some time now, but in the future, we can expect to see scams that use spoofed email accounts designed to appear as if they’re coming from a genuine email address.
“Spoofing” means changing the email address so it appears to be coming from somewhere or someone else, specifically a known contact. This is a tool that hackers will use to gain trust, making users and companies more vulnerable. By masking their attack to look like it is coming from a real person, particularly a person, company, or institution associated with your information, you are more likely to trust them and fall victim to the scam.
Mobile as an attack vector
Mobile devices are becoming intrinsic to how we live and work. Cybercriminals will take advantage of this weakness by attacking our mobile devices more and more. According to Cybersecurity company Lookout, there was a 37% increase in mobile phishing attacks from the first quarter of 2019 to the first quarter of 2020. By accessing your smartphone, tablet, or other mobile device, hackers can gain access to all of your connected information, both personal and professional.
Attack vectors are techniques that hackers use to access a device or network and inject a piece of bad code that they can then use to exploit vulnerabilities in the system. Hackers will use mobile spyware to infect mobile devices, either by tricking users to download an app or through physical access to the device. They will then be able to install a so-called back door that they can use to access information on the phone, with potentially devastating consequences. Cybersecurity solutions, specifically anti-spyware software, will be critical to avoid confidential information being stolen.
The final cybersecurity trend we can expect to see in the future is an increase in ransomware attacks. This kind of attack involves using hack tools, or ransomware, to exploit vulnerabilities and breach networks. Cybercriminals are developing new tools and technologies all the time that allow them to carry out increasingly sophisticated and complex attacks.
Ransomware attacks will not only give hackers access to your information, but they will also allow hackers to blackmail you based on what they access, as they can encrypt all data. For businesses, this could mean a loss of vital productivity, potential exposure of confidential information to competitors, or reputation damage.