Cybersecurity is an ongoing arms race. What businesses have accomplished today may be obsolete tomorrow because of its constant change. However, many news organisations are more concerned with the industry’s technical developments than cybersecurity triumphs.
According to cybercrime magazine, by 2021, ransomware will have cost $6 trillion each year. Cybersecurity predicts that global cybercrime costs will rise by 15% every year. According to projections, by 2025, cybercrime costs may reach as much as 10.5 trillion USD each year. (Source)
Instead of showcasing the evolution of encryption technology, the media is more focused on showcasing hackers’ methods for overcoming security measures. Consequently, individuals may be less informed about the current and future trends in cybersecurity and encryption.
Let’s look at what’s new and exciting in cybersecurity and why it is essential. Let’s learn about the latest advances and trends that will soon dominate the field of cybersecurity, as well as why they are crucial.
Security By Design
Over the past two decades of the internet era, security and encryption have been optional extras added to existing systems. Security from the bottom up will become commonplace for the next two decades. The Apple iOS for iPhone and iPad or Defender-enabled Microsoft Windows 10 with BitLocker is an example in today’s world.
Private data can now be stored on public, decentralised networks thanks to new advancements in encryption technologies that enable the storage of private information on public, decentralised networks. This may be achieved using exciting developments in proxy re-encryption (PRE). Data owners no longer have to worry about the intricacies of encryption and key administration since they can grant or remove.
Secure Multiparty Computation
Cryptography is at a different level of maturity now than it was five years ago, and the stakes are higher. Secure Multiparty Computation (MPC) replaces outdated hardware to provide operational agility and cost-effectiveness, making it an ideal fit for the Cloud. MPC eliminates single points of failure while being synergistic with cybersecurity technologies that improve authentication.
Smart Solutions With More Customisation
Responsive and predictive technologies underpinning sector-specific, real-time defensive systems will be the next big thing in cybersecurity. There will be a shift away from relying on one-size-fits-all security services to more intelligent and informative cybersecurity solutions that are customised to engage better, protect, and serve particular industry ecosystems.
Artificial Intelligence-Powered Cybersecurity
Expect more AI in cybersecurity, both from a hacker’s perspective and those defending against assaults. Hackers will use AI-powered malware to penetrate networks and stay dormant until it discovers the best time to launch its payload. In contrast, security solutions will employ AI to detect abnormalities that we may not currently detect. One cannot say who will win this battle.
A Predictive Model To Eliminate Threat Vectors
The current generation of cyber protection, which separates the asset it is safeguarding from the solution to spot the predator in advance of an actual attack on secure resources, will be further improved. Next is integrating artificial intelligence and data analytics into a predictive model that can determine threat vectors and shut them down before they begin.
Increased Focus On Physical Security
Most breaches and attacks are the results of inadequate physical security. The bottom line is that most hacks begin with a breach of security. If you don’t let someone in, they won’t be successful. Want to reduce your vulnerability to intrusion? Get streetwise and make sure your employees are as well. “Before you click, think.”
Integration Of Self-Contained Tools
There’s a distinction to be made between cybersecurity and digital privacy. However, the two must work together for one to survive. I anticipate the next big thing will take both approaches. First, anticipate communications software that is self-contained—with privacy built in—to be implemented so that information remains within corporate boundaries. The second development will be the increasing use of artificial intelligence (AI) to combat AI that is and will continue to be responsible for data breaches.
Use Of Data Access Security Brokers
Organisations must distance the tools for access control, such as encryption, from the data by using a data access security broker to create a layer between them. The broker will verify rules and authorise users/applications/devices/etc. to have access to data, allowing organisations to maintain sole control over their information at all times.
Enhanced Third-Party Vetting
There are breaches caused by third parties who make mistakes. Many organisations work with third parties, and they must be carefully vetted for their risk management and data protection policies and procedures since they also use them. Vetting techniques can help to reduce this danger.
Encryption has been an instrumental tool for cybersecurity, but the advent of quantum computing may render brute-force assaults far more efficient and quick. Quantum-resistant cryptography (QRC) algorithms will become increasingly essential as quantum computing becomes more widespread in the future, with cyber opponents.
In the ERP environment, we fight cybersecurity every day, and for our vast databases of client data, we need to have a method that is more secure than any other. As a result, we are now working with homomorphic encryption. There are no key stores for data within a database or for thieves to misuse in any way. It would take 2 trillion years to crack it.
Increased Transparency And Ease Of Use
The most significant issue is that customers will find ways to get around security technology to make their job more difficult. Continuous training with the proper tools leads to increased adoption and security.
More Focus On Protecting People
The next era of cybersecurity will focus on protecting people, not just networks and devices. Today’s data breaches are primarily due to human error. To understand human behaviour online and predict and prevent incidents of human error before they happen, businesses require a people-centric approach to cybersecurity that includes awareness training and sophisticated machine learning technology.