10 Cybersecurity Trends And Challenges To Watch Out For In 2024

In an increasingly digital world, cybersecurity remains a top concern for businesses. As technology evolves, so do the challenges and threats that lurk in the digital landscape. Looking ahead to 2024, we can expect to see a widening cyber threat landscape and some significant cybersecurity trends.

1. AI: A Double-Edged Sword

Artificial intelligence-powered cyberattacks are feared to be one of the key cybersecurity threats in 2024. Cybercriminals are leveraging AI and machine learning to automate attacks and bypass traditional security measures. With AI-powered attacks becoming more prevalent, organisations need to adopt advanced threat detection and response systems.

At the same time, AI/ML are set to play an important role in cybersecurity. AI/ML offer powerful tools to detect and mitigate threats in real time. AI-powered systems can continuously learn and adapt to new threats, making them more effective in detecting previously unseen attacks.

ML algorithms will be used to analyse patterns and anomalies in network traffic, user behaviour and system logs to identify potential threats. By training these algorithms on large datasets, organisations can create predictive models that can detect and respond to cyber attacks in real time. ML algorithms can also automate the process of threat hunting, reducing the time and effort required to identify and mitigate security incidents.

2. Deepfakes Run Deep

While 2023 witnessed a 10x increase in the number of deepfakes detected worldwide from a year before, the threat is set to rise in 2024. Countries such as the US, India and over 50 others are poised for elections, and deepfake technology, powered by AI, is emerging as a major security threat globally.

Deepfakes allow cybercriminals to manipulate audio or video content to create highly convincing fake media. They can be used to spread misinformation, deceive individuals and blackmail victims. They have the potential to undermine trust in media, making it challenging to discern between genuine and manipulated content.

3. Widening IoT Attack Surface

From smart homes to connected cars, internet of things devices are revolutionising the way we interact with the world around us. However, as the number of interconnected devices grows, so does the attack surface for cybercriminals.

IoT-driven DDoS attacks rose 300% in the first half of 2023 itself, causing an estimated global financial loss of $2.5 billion. In 2023, 90% of complex, multi-vector DDoS attacks were based on botnets, and the trend is likely to continue.

The inherent vulnerability of IoT devices is a key challenge. Many IoT devices lack robust security features. From weak passwords to unpatched firmware, these devices provide entry points for cybercriminals to gain unauthorised access and compromise the entire network. Furthermore, the sheer volume and diversity of IoT devices make it difficult to implement standardised security measures, as each device has its own unique set of vulnerabilities.

4. Securing The Cloud

The adoption of cloud computing continues to accelerate, offering benefits such as scalability, cost-efficiency and flexibility. However, as organisations increasingly rely on cloud, the need for robust security measures becomes paramount.

With the increasing sophistication of cyber attacks, a zero-trust approach is gaining prominence. This model assumes zero trust and requires authentication and authorisation for every user and device, regardless of their location or network.

Another trend in cloud security is container security. Containers have become a popular choice for deploying applications in the cloud due to their lightweight and portable nature. However, organisations need to ensure that container images are free from vulnerabilities.

The use of data encryption is expected to become more widespread. Encrypting data provides an additional layer of security, ensuring that even if an attacker gains access to the data, they cannot decipher it without the encryption keys.

5. A Quantum Leap (In Risk)

One of the main concerns surrounding quantum computing is its potential to break encryption systems. Currently, encryption algorithms protect sensitive information transmitted over the internet. However, quantum computers have the potential to quickly solve complex mathematical problems, rendering conventional encryption algorithms obsolete.

To address this challenge, researchers are actively exploring post-quantum cryptography, which aims to develop encryption algorithms that are resistant to attacks from quantum computers. Implementing post-quantum cryptography will be crucial to safeguarding sensitive data and ensuring secure communication in the quantum computing era.

6. Blockchain To The Rescue

Another emerging technology that is reshaping cybersecurity is blockchain. Originally known for its association with cryptocurrencies, its decentralised and tamper-resistant nature makes it an ideal solution for securing digital transactions and preventing unauthorised access to sensitive information.

Blockchain has the potential to revolutionise cybersecurity by providing a transparent and immutable record of transactions, enhancing trust and integrity in digital interactions.

7. Risk To Remote Infrastructure

Work from home has increased cyberattack frequency by 238% since the pandemic. As employees continue to prefer remote or hybrid work model, its infrastructure will be a prime target for cyberattacks. With employees accessing company networks from various locations and using personal devices, organisations face increased risks of unauthorised access, data breaches and malware infections.

Organisations must implement robust security measures, including strong authentication protocols, virtual private networks to encrypt communications, and regular software patches and updates. Employee education and awareness programmes are crucial to ensure that remote workers understand and adhere to cybersecurity best practices.

8. Advanced Ransomware And Phishing Attacks

While ransomware and phishing attacks have long been a concern, cybercriminals are continuously evolving their tactics to bypass security measures. Instead of indiscriminate attacks, cybercriminals are now focusing on specific industries or companies with valuable data. They employ techniques such as spear-phishing and social engineering to gain unauthorised access and encrypt sensitive information, demanding hefty ransoms for release.

Phishing attacks include increasingly sophisticated tactics, making it challenging for users to distinguish between legitimate and malicious emails. Cybercriminals are now leveraging personalisation techniques and social engineering to create highly convincing phishing emails, tricking individuals into divulging sensitive information or downloading malware.

9. Third Parties Becoming Targets

A 2023 study shows that 98% of global organisations have integrations with at least one third-party vendor that has been breached in the last two years. This trend is likely to continue into 2024, because third-party vendors are five times more likely to exhibit poor security.

Organisations must conduct thorough security assessments of potential partners, implementing robust vendor risk management programmes, and ensuring all parties involved adhere to stringent security standards.

10. Mobile Security In Focus

As mobile devices become an integral part of our daily lives, they’ve also become easy targets for cybercriminals. The use of mobile phones for tasks such as financial transactions and remote work make them particularly vulnerable to attacks ranging from malware infections, data breaches and unauthorised access to sensitive information.

Individuals and organisations must prioritise mobile security, by installing reputable antivirus software, updating device operating systems and being cautious when downloading apps or clicking on suspicious links. Implementing strong device passcodes or biometric authentication methods can provide an extra layer of security.