Why cybersecurity risks have changed over the last two decades?

Cybersecurity is an important but frequently misunderstood part of enterprises' technology infrastructures. The use of the Internet has increased dramatically during the previous two decades. Although cyber security has always been a never-ending race, the rate of change is increasing. Businesses continue to invest in new technology to run their operations. They're also incorporating more systems into their networks to accommodate remote work and improve client experiences, all of which poses new risks.

As a result of multiple firms moving their businesses and equipment to the cloud, the risk of cybersecurity has altered dramatically over the last 20 years. In 2005, 16.8 billion people were linked to the Internet; today, that number has tripled, with 53.6 billion people utilizing it.

Every device that is connected to the Internet is at risk. And each device has its own operating style, making it vulnerable to various security threats. As a result, I am convinced that cyber security threats have shifted dramatically over time, and it is critical for us to comprehend the various causes that have contributed to this shift. Although there are several aspects to consider, I will outline a few that will assist you in understanding the altered landscape.

• Emerging Technology:?Companies have been investing in modern technology because of the increase in many technological features over the years. Unfortunately, correctly utilizing technology while also managing the security component becomes tough. As a result, attackers can use a variety of complex tools to break into the system. Organizations investigate the most cutting-edge technologies, but it's equally critical that they build and maintain appropriate security rules and practices to complement this new technology.
• Rise of AI, ML in Attack Methodologies:?Artificial Intelligence and Machine Learning (AI/ML) are crucial technologies for any data-driven firm, thus protecting them is critical. More firms have moved their infrastructure to artificial intelligence and machine learning in recent years. These methods offer two key advantages. The first is data, and the second is the actual data model. System manipulation, data corruption and poisoning, data breaches, and, most crucially, data privacy are all risks associated with data. This was not the situation 20 years ago, when the term "data privacy" was still a foreign concept to the industry. However, as artificial intelligence and machine learning become more widely used, attackers have begun to employ these techniques to carry out various attacks, which explains the rise in dangers over the last 20 years.
• Growing regulatory landscape:?We must also consider the expanding regulatory landscape in addition to the rising threats. As a result of the increased legislation, companies around the world and across the corporate landscape are moving work and documentation to stay compliant. Many companies are turning to technology to help them reduce their workload and eliminate human error, which is why different threats and risks emerge with the use of new technology. Regulations like the Federal Information Security Management Act (FISMA), California Consumer Privacy Act (CCPA), and General Data Protection Regulation (GDPR) need a lot of resources to comply with. Because each industry has its own set of rules, adopting a uniform framework is ineffective. Failure to comply with these requirements can result in large fines or, in some situations, the loss of a company's ability to provide services. As a result of all the numerous rules, businesses face various risks that have a negative influence on their economic value.
• Growing importance of Data:?The right to privacy is a basic human right. Huge amounts of data have been communicated over the Internet in the last two decades, which is why it is vital to ensure that personally identifiable information is safeguarded and secure from hackers. This is never truer than when it comes to tracking how people utilize communication tools like email. Organizations must develop their insider threat programs based on what will work within their cultural and regulatory frameworks, such as the European Union General Data Protection Regulations. As a result of all this changing legislation, I feel that the cyber security risks have also changed over the last two decades.
• Treating cyber risk as an IT problem:?Cyber risk is like any other non-financial, complicated, and significant risk. The prioritizing of relevant threats, as well as the evaluation of a company's risk appetite and the development of risk-mitigation activities, are all key aspects of risk management. As a result, I am certain that cyber risk should be regarded as a risk management issue rather than a core IT issue. Furthermore, businesses must have an organizational structure and governance framework that promotes openness and allows for real-time risk management.

Companies must apply developing methods and technology to detect, deflect, and neutralize attacks as attackers look to the next decade. Artificial intelligence tools, particularly machine learning and predictive analytics, will increasingly assist enterprises in detecting possible dangers and bolstering their staff efforts. Companies have been able to rely on expertise from all over the world as a result of the transition to remote work, allowing them to increase their recruitment capabilities. The cyber security dangers have evolved over the last two decades as a result of all of these factors.

I hope you like reading the article, and if you have any comments or suggestions, I'd love to hear them. Please do not hesitate to get in touch with me if you would want to discuss this further!