New Developments in the Ever-Evolving Cybersecurity Landscape
Kelly Kercher
Founder & CEO @ K3 Technology | Building Enterprise Value & Driving Strategic Growth in IT, Security ??, Cloud ?? and AI Solutions | Skier | Proud Father of Two Incredible Boys
Cybersecurity is without a doubt one of the most critical disciplines in today's business environment. Virtually every company of any size or type depends on technology and data, so keeping systems secure and data safe from cyber predators is essential, not just to grow but to stay in business.
Bad actors are tenacious and constantly getting more sophisticated, always looking for ways to penetrate systems and cause disruptions and steal vital data. You can think of it as a constant tug-of-war between the good guys and the bad guys. MSPs like K3 and other “good guys” must constantly up their game, including monitoring new hacker tactics, deploying advanced technologies, and developing innovative defense strategies.
As a result, cybersecurity is constantly evolving to repel attacks and keep data safe.? Here are a few of the latest developments in cybersecurity.
Key Cybersecurity Stats for 2022/2023
While major breaches make headlines, the damage inflicted by cybercriminals goes far beyond the headlines. Cybercrime incorporates a dizzying range of tactics, attacks companies of all types and sizes, and costs businesses more money every year, including:
●???? Cybercrime Magazine estimates cybercrime will cost $8 Trillion globally in 2023.
●???? Total attacks globally are projected to increase by 38% between 2022 and 2023.
●???? Almost 3.5 million phishing emails are launched every day, representing the most common type of attack.
●???? The average cost of a data breach is up to well over $4 million. In healthcare, the average cost of a breach is more than $10 million.
●???? Almost 500 million ransomware attacks were detected worldwide in 2022.
●???? On average, 300,000 malware instances are created every day, with 92% delivered via email.
●???? Malware spread via websites is on the rise as 4.1 million, or 18% of all websites carry threats.?
●???? 43% of attacks hit small businesses, often with devastating impact - 60% of targeted SMBs are forced out of business within 6 months of an attack.
Unfortunately, that’s just the tip of the iceberg, but these stats provide a glimpse into how serious and widespread cyber threats have become. For more details on the scope of the problem, see: 2023 Sonicwall Cyber Threat Report and 2023 Cybersecurity Almanac: 100 Facts, Figures, Predictions and Statistics
Cybersecurity is not just about technology
It’s important to remember that cybersecurity is not just about technology. Staff expertise (internal and external), leadership, and strategy are arguably even more crucial.
According to KPMG, 77% of CEOs see cybersecurity as a strategic function, or even a competitive advantage, meaning top-notch cybersecurity leadership and a deep bench of expert staff are needed. Regardless of the technology deployed, the right people are what make the difference.
And yet 3.5 million cybersecurity staff and analyst jobs remain unfilled worldwide, including 750,000 in the US alone. That’s an increase of 350% since 2015.
In one recent survey, 100% of Chief Information Security Offices (CISOs) said they lacked sufficient resources to do their jobs effectively. This lack of qualified team members combined with the enormity of staying ahead of sophisticated, round-the-clock threats has CISOs feeling burnt out and overstressed. In fact, the Gartner Group estimates that fully half of all CISOs will move on from their current jobs by 2025.
To fill these gaps in cybersecurity leadership and staff, more and more companies are enlisting Virtual CISOs (vCISOs) and/or Managed Service Providers (MSPs).? vCISOs and MSPs bring expertise and bandwidth to bear, either as complementary resources or as replacements for internal personnel.
For a more in-depth take on the rise of vCISOs and the value of MSPs in cybersecurity check out my recent piece in Forbes:
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AI and Cybersecurity: Some Good and some bad
Given the transformational nature of AI, it’s not surprising that both sides of the security divide are looking at ways to implement it.? So, there’s good news and bad news for your business when it comes to AI.
To the good, AI can automate aspects of your cyber defenses and provide new capabilities that were previously unavailable using traditional methods, especially with constrained resources. Expertly applied, AI can:
●???? Reduce incident response times.
●???? Enhance compliance with security best practices.
●???? Improve threat hunting through behavioral analysis.
●???? Expand vulnerability management capabilities.
●???? Make network security more efficient through the automation of policies and topography analysis.
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To the Bad, hackers are using AI for nefarious means. Unfortunately, some of the capabilities make them more effective as well, including:
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●???? Enabling the development of smart malware and cyber attacks able to bypass the latest security protocols.
●???? Enable hostile system penetrations without human intervention.
●???? Automate Neural fuzzing to test and analyze software for vulnerabilities.
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At K3, Cybersecurity is in Our DNA
K3 Technology is a leading MSP with deep expertise in cybersecurity. We’re experts in AI, including tools, strategy, and support. So, we know where AI and cybersecurity intersect and can help you apply AI to ensure your systems remain safe and secure.
K3 also provides comprehensive vCISO services that scale to your needs. We can work alongside your IT leadership and staff or take the lead per your requirements. Contact us at K3 Technology to discuss how we can help.
In the meantime, this report by CompTIA provides an excellent overview of the current state of Cybersecurity. I recommend you have a look.
Cybersecurity is so critical yet is evolving so fast, is essential to treat it as core strategic function. Accordingly, companies of all sizes should enlist the right expertise to stay protected