5 cybersecurity predictions for 2024: All you need to know

Looking forward in the cybersecurity sector entails envisioning the future and its AI-driven landscape. As 2024 unfolds, AI will dominate discussions, being pivotal in cyber strategies amidst industry growth. While 2023 marked AI's widespread adoption, the focus now shifts to its nuanced applications. Predicting cybersecurity trends involves not only anticipating threats but also staying abreast of evolving attack methods and technologies. Let's delve into some forecasts for the upcoming year while emphasizing the importance of proactive defense measures.

1. Rising occurrence of AI-powered cyber attacks predicted

In 2023, the global adoption of artificial intelligence (AI) technology surged, captivating businesses with its potential to streamline operations, analyze vast datasets, and bolster cybersecurity measures. However, as organizations embraced AI, so did cybercriminals. The immense potential for AI to facilitate new forms of cyber threats, including AI-generated deepfake phishing attacks, large-scale botnet assaults, and coordinated cyber intrusions, poses significant risks. Early iterations of malevolent AI platforms like WormGPT have surfaced on the dark web. As we approach 2024, organizations must confront unprecedented challenges stemming from AI-driven threats. Adopting a comprehensive AI strategy is paramount, enabling organizations to harness AI tools defensively and mitigate risks, particularly in sectors like healthcare and finance, which are prime targets for cyber attacks.

2. GenAI set to revolutionize threat detection and response approaches

As people and businesses continue exploring the potential of generative AI to enhance productivity and streamline operations, the next frontier for GenAI lies in revolutionizing how organizations approach their threat detection and response strategies. GenAI holds promise in significantly improving existing threat detection methodologies by leveraging advanced pattern recognition and predictive analytics to identify anomalies and potential security threats.

Contemporary threat intelligence often relies on conventional rule-based systems, such as indicators of compromise (IOCs) and known tactics, techniques, and procedures (TTPs). However, these methods have limitations as threat actors continually evolve their tactics with increasing sophistication. GenAI offers the capability to anticipate and detect threats with greater accuracy and lead time, surpassing the capabilities of traditional approaches.

Just as GenAI can be exploited for malicious intent, organizations will increasingly explore its potential to strengthen their security measures in 2024.

3. AI governance and policy to emerge as significant debate topic

As AI becomes increasingly prevalent and practical, regulating its use presents significant challenges in the upcoming year. Instances such as ChatGPT's data breach and Samsung employees inadvertently leaking sensitive data underscore the complexity of governing AI, which remains largely misunderstood in the cybersecurity landscape.

Cyber regulations are imperative to safeguard user privacy, uphold human rights, and ensure transparency and data safety. While there have been some guidelines and recommendations for AI usage, organizations have predominantly determined their approaches. While 2023 focused on defining acceptable AI usage, 2024 will witness the emergence of more concrete policies and regulations.

The EU's approval of the EU AI Act in late 2023, scheduled for implementation in 2024, signifies an early effort in this direction. This legislation categorizes AI systems based on risk levels and imposes transparency requirements on companies using such systems. However, there has been pushback from EU businesses, citing concerns over stringent requirements and penalties for non-compliance.

As regulatory bodies worldwide craft policies surrounding AI, ongoing debates regarding its management and implementation are anticipated.

4. Rising incidents of security breaches stemming from insider threats expected

According to a Gartner report, it's projected that by 2025, over half of significant cyber incidents will stem from either a shortage of skilled professionals or human error. Insufficient training in cybersecurity practices leaves many organizations vulnerable, with insider risks already ranking among the primary causes of data breaches and leaks.

Without a concerted effort to enhance cybersecurity education and training in 2024, there's a risk of a notable increase in cyber incidents attributed to inadequate training and internal risk management protocols. Security leaders must prioritize employee training in their cybersecurity initiatives, ensuring greater awareness of the potential risks associated with undertrained personnel.

5. Inadequate cybersecurity workforce will result in heightened security vulnerabilities

According to a study by ISC2, the cybersecurity workforce deficit reached 4 million by late 2023, marking a nearly 10% increase from the previous year. This shortage stems from various factors such as economic instability, budget constraints, layoffs in the tech sector, alongside heightened demand driven by evolving threats and the rise of AI technology.

Numerous security teams are severely understaffed, leaving organizations potentially ill-prepared to effectively respond to cyber incidents. Sadly, cybersecurity departments are often among the first to face cuts within businesses, as some companies fail to grasp the critical importance of maintaining secure systems.

Yet, the scarcity of skilled professionals exacerbates the issue. Many businesses struggle to find individuals with the necessary expertise to manage their security programs effectively. Unless there's a significant effort in 2024 to recruit and train personnel to address these gaps, we may witness a surge in cyber attacks due to the talent deficit.