CYBERSECURITY IN 2020

Thanks to ever-developing technology standards, cybersecurity has become a number one priority for businesses and individuals everywhere. Web and network attackers constantly strive to undermine the protection of company and personal data, making it more of a challenge than ever before for people to stay secure.

Changes are happening as we approach the next decade, and 2020 could have more cybersecurity challenges in store. So what are some of these potential cyber threats, and how can businesses equip themselves to prepare for them?

What Is Cyber Protection?

Before we jump into the 2020 cybersecurity predictions, we should discuss what cyber protection is. This is a broad term encompassing the protection of networks and electronic devices, like computers and mobile devices, from cyber attacks. Those without sufficient protection for their systems and devices could be at risk for security breaches, malware and other dangerous invasions of Internet privacy.

The concept of cybersecurity is hardly new — but over the last 20 years or so, agencies have heavily pushed its significance on network users. In 2004, the National Cybersecurity Alliance and the Department of Homeland Security launched National Cybersecurity Awareness Month in the U.S. Since then, cybersecurity has become more and more challenging to maintain with the rise of social media, cloud technology and more.

As amazing as it is that people and businesses are more connected than ever in today’s world, these lowered barriers mean that we have to keep developing new methods of cyber protection that can compete with the cybersecurity threats of 2020. It may take more than virus software and basic password protection to keep your technology safe in the current environment.

Cybersecurity Predictions for 2020

A data breach could happen to any organization today. With many people now working and storing information digitally, opportunistic cybercriminals can easily access sensitive data if it’s not secured. Statistics indicate that almost 17 million Americans experienced identity fraud in 2017 — higher than the number of citizens who experienced it in previous years.

Data breaches are on the rise, meaning 2020 could have major changes in store for cyber protection. Here are some developments in cybersecurity you can expect to see in the coming year:

• Major Focus on Cyber Protection: Both small and large businesses are starting to devote much more time and funds into cybersecurity efforts. We expect that over the next several years, executives will prioritize cybersecurity awareness and technology to protect their assets and data from new threats. MarketWatch anticipates that the global cybersecurity industry will reach USD 251 billion by 2023 at a growth rate of 11%. With all the recent concerns about data privacy and protection in business and personal settings, it’s little wonder that people are taking extra steps to increase security.
• Greater Implementation of Artificial Intelligence (AI): There are both upsides and downsides to AI in cybersecurity. On the one hand, network managers in 2020 will increase their use of AI and machine learning to defend against attacks. This technology will allow companies to prepare for threats, identify and reinforce weaknesses, and even prevent and respond to issues that arise. But they’ll also be fighting fire with fire as cybercriminals find new ways to use AI to their advantage. Just as automation and AI make company operations more manageable, they also create more dangerous, efficient threats to Internet security.
• Higher Risk to the Public Sector: Cybersecurity in public infrastructure is already a major issue. As members of the public sector upgrade their processes by converting to digital technology, the industry faces a variety of vulnerabilities that could continue to compromise its security in 2020 and the coming years. Meanwhile, businesses and agencies within the public services industry will need to enhance their resources and develop ways to fill in those security gaps so they can protect themselves and their consumers from cyber attacks.
• Use of Multi-Factor Authentication: According to the 2019 Lastpass Password Security Report, 57% of businesses worldwide currently use multi-factor authentication, compared to 45% of companies last year. This form of identity and data protection is projected to become even more prevalent in 2020 and beyond, with the market reaching USD 18.5 billion by 2025 at a growth rate of almost 15%. Thanks to the urgency enterprises are facing to protect their information, this is one of the business world’s fastest-growing cybersecurity trends.
• Addition of New Security Regulations: Like small and major enterprises, government agencies understand the cyber threats facing business and individual privacy all around the globe. In 2018, the European Union enforced the General Data Protection Regulation (GDPR), which is designed to keep personal data safe from privacy breaches. This could indicate that stricter cybersecurity legislation is on the way for other parts of the world, including the United States.
• Increase of 5G Network Threats: With 5G technology taking off this past year, many industry elites expect that 5G networks will start becoming more prevalent in 2020. What does this mean? First, its high speed could revolutionize the online experience for Internet users everywhere. But according to a report from the European Union, it could also make networks more vulnerable to cybercriminals. With more ways for attackers to access sensitive data as well as an increase in challenges like monitoring risks on devices without a Wi-Fi router, people will need to be proactive as they develop new security solutions.

These are some of the major cybersecurity future trends that could emerge in 2020 and the years that follow. If you’re concerned about protecting the privacy of your business, it could be time to invest in a few extra security measures. At Consolidated Technologies, Inc., we offer a plethora of IT and unified communications solutions — all designed to make your technology faster, smarter and more secure.

We help businesses grow and thrive with innovative products and detailed system management services. Contact us now to learn more about how we can prepare your technology for the greatest cybersecurity challenges of 2020.