The race to protect cyberspace is on. New technological advances are opening doors to new threats, including AI, space technology, biotechnology, and ICT. Strong encryption, automated trust, and 5G are just a few of the advances that are transforming cyberspace. However, the pace of change is accelerating. No organization is immune from cyber threats, and small and midsize businesses are equally vulnerable. The traditional cybersecurity controls will soon be rendered outdated as new technologies and techniques emerge.
1. AI and other technology
The advancement of AI and other technologies is increasing the risk of cybersecurity threats, but the positive benefits outweigh the risks.
Advancement of AI
AI is already subject to heightened tensions and competition between states, but it is also emerging in many other fields, such as biotechnology and space technology. The development of advanced artificial intelligence and cybersecurity technologies will have a significant impact on society. These developments will make it imperative to develop appropriate regulatory frameworks to prevent cybercrime.
As more people are connected, ICT and cybersecurity benefits will grow, but the costs will also grow. Cyberattacks can lead to a loss of privacy and cyberbullying, among other problems. Nevertheless, the economic benefits of ICT/cybersecurity are not solely reflected in GDP. The economic benefits can be felt by individuals, communities, and economies. The value of cybersecurity will not be limited to economic growth; it will also boost societal welfare.
The Internet of Things (IoT) is one of the biggest targets for hackers.
As more devices are connected to the Internet, hackers can purchase botnet kits and gain access to millions of connected devices. While these attacks can’t be prevented by traditional security measures, AI-driven algorithms can help identify threats and improve overall threat detection. This technology will improve security by making it easier for security systems to identify and respond to a wide variety of cyberattacks, including those that target cloud services and infrastructure.
The rise in cyberattacks is a multifaceted issue that has multiple causes. One of these causes is the proliferation of new technologies and devices. According to Business Insider, there will be at least 41 billion IoT devices in use by 2027. As we become more dependent on these devices, so does our risk for cyber attacks. Fortunately, researchers are busy trying to find new ways to protect them from cyberattacks.
There is a growing debate over the use of strong encryption. Some advocates of stronger encryption say that the need to protect private data is more pressing than ever. This debate goes back to the days of government access limitations. The U.S. government capped the size of exportable algorithms, and the algorithms used by strong encryption far exceeded these limits. In 2016, Sen. Dianne Feinstein introduced legislation that would require the U.S. government to give more access to these programs.
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The current state of cybersecurity is not good, however. The U.S. Department of Justice has vowed to crack strong encryption. FBI Director Christopher Wray has described an inability to access data from electronic devices as an urgent public safety issue. The Deputy Attorney General Rod Rosenstein proposed “responsible encryption,” which is essentially a back door.
4. Automated trust
Zero trust security was designed to help organizations manage the cyber risk of their enterprise. Zero trust security uses role-based access controls to approve or deny access requests to sensitive information. This type of security is effective but creates significant overhead. In order to maximize the value of zero trust security, organizations must deploy security automation. Security automation improves incident response and security agility. It also reduces the load on security operations centers.
Traditional network segmentation is also difficult to maintain because workloads, users, and data change frequently. Therefore, credentials must be limited to only those required for a particular task. Furthermore, tasks should be constantly changing. Most attacks leverage privileged service accounts that are often not monitored or over-permitted. To prevent this, organizations should use zero-trust security architecture principles. Automated trust can greatly reduce cybercrime costs.
Zero-trust cybersecurity requires authentication and authorization of all users and continuous validation of security posture. This approach also assumes that no traditional network edge exists. Zero-trust systems can be local, in the cloud, or a hybrid of the two. In this way, organizations can accommodate workers located in different locations. The benefits of zero-trust security are numerous. These security measures are both more efficient and less costly than traditional network perimeters.
5. Increasing flow of information between devices
Growing computing power and falling processor and memory costs are driving an increased vulnerability. Digital devices at the edge of the network now include sensors and controls. And many of these are linked to core IT networks and the internet. With the convergence of IT and OT, every critical infrastructure device could become a computer. But how can companies and organizations secure these networks? There are several ways to improve cybersecurity.
One approach to tackling cybersecurity is to create incentives. More incentives will encourage organizations and individuals to share information and implement better security practices. Market incentives are one way to encourage cybersecurity as a central part of their businesses and attract new players to fill brokerage roles. Likewise, increased government funding will increase the flow of information and improve the chance of identifying attackers. But while incentives are important, they can also be problematic.
The government can help shape incentives by regulating cybersecurity. It can help jump-start cyber action by guiding stakeholders. To make the best possible decisions, governments need to understand the interrelationships of the different stakeholders and how to encourage them to act. A good start is to implement government regulations. The federal government can help improve cybersecurity.
The Bottom line
One recent example of the need for this sort of technology is the rise of cybercrime. The epidemic has increased cybercrime; criminals are selling fake coronavirus cures online. Online resources that track Covid-19 have also been contaminated with malware. Meanwhile, the shift from traditional jobs to remote work is creating new privacy concerns. The security of services like Zoom, a popular video conferencing platform, has been under scrutiny. The resulting hacking attack – a form of “zoom-bombing” – has raised alarm bells.
This epidemic is fueling a broader shift in society’s reliance on the internet. While the threat from COVID-19 has raised the profile of cybercrime, privacy activists have long opposed this trend. Recently, the European Union adopted GDPR, a privacy law that requires governments to share data with companies. However, the COVID-19 pandemic has caused some privacy advocates to soften their stance and embrace surveillance technologies. These technologies can help governments track the virus. For instance, governments have used data from mobile carriers, credit card companies, and mobile applications to follow the spread of the virus. Further, mobile apps are required to store name and national identification numbers.