As we transition out of the first quarter of 2024, now is a good time to review the anticipated cybersecurity threats for the year. So far, we have already witnessed the rise of AI-enabled threats as well as new geopolitically motivated attacks that utilize AI tools. However, important questions remain: what will the rest of the year hold, and what threats should we be defending against? Here are four of the key 2024 cybersecurity trends that should be on your radar.
- Integration of AI and Machine Learning: Artificial intelligence and machine learning seem to be the double-edged sword of cybersecurity. On the one hand, these tools have been used by bad actors to increase their attacks to a previously unheard-of scale. On the other hand, they also have bolstered cybersecurity defenses by enabling protection systems to detect patterns and address abnormalities. This allows your protection software to stay one step ahead of hackers. We will find out soon as to whether artificial intelligence and machine learning are a net positive for security—and 2024 will play a big role in answering that question.
- New Ransomware Threats: Ransomware is about as old as the internet itself and has remained an evolving threat through every new stage of the internet. This year, ransomware attacks are expected to narrow in focus to severely target consumers; as ransomware operators face something of a cash-flow problem, they need to ensure that they have strong leverage over their victims. Furthermore, generative AI has increased the likelihood of the development of new waves of ransomware. For individuals, regularly backing up your data and practicing good cyber hygiene will be essential to warding off these attacks.
- Internet of Things (IoT) Security: The ubiquitous relationship between the internet and our everyday devices has been increasing exponentially for years. As we continue our embrace of smart home technology and wearable devices, our security risks continue to grow. This year, there is an expected push to improve the security of IoT devices as well as the networks that deploy them. One way this might happen is through the increased role of blockchains: by integrating blockchains into IoT security, each device can function as its own independent node. When done correctly, this should reduce the overall vulnerability of the entire system.
Multi-factor Authentication Adoption: Many of us have already experienced multi-factor authentication with some of our more sensitive information (such as logging on to our bank websites). This authentication strategy asks you to verify your identity with both a password and something you have on-hand (like a smartphone). However, 2024 promises to see an increase in the number of organizations who utilize multi-factor identification to protect both their business and their customers. Not only does multi-factor identification reduce the risk of unauthorized access (the kind that arises from ransomware attacks), but it also reduces data breaches.
