In 2024, staying updated on cyber security is more important than ever. Allianz, a financial services provider, has identified cyber attacks as the biggest risk for businesses in the U.K. for the first time. However, many professionals are still unaware of the implications of the cyber landscape in the first quarter of the year. TechRepublic has consulted industry experts to highlight the three significant trends in cyber security – AI, zero-day exploits, and IoT security – and provide guidance on how businesses can protect themselves.
1. Sophisticated cyber attacks using AI: The U.K.’s National Cyber Security Centre has warned that the use of AI technologies will lead to a rise in global ransomware threats. Recent Microsoft reports show that 87% of U.K. businesses are either vulnerable or at high risk of cyber attacks. The Minister for AI and Intellectual Property, Viscount Camrose, has emphasized the need for U.K. organizations to enhance their cyber security plans. Criminals can utilize AI to conduct more convincing social engineering attacks and gain network access. This technology can also be used for phishing campaigns and spreading disinformation.
2. Increase in successful zero-day exploits: The U.K. experienced a high number of exploited zero-day vulnerabilities in 2023, and this trend is expected to continue in 2024. Organizations need to prioritize security updates to counter these exploits effectively. The “Cyber security breaches survey 2023” by the U.K. government revealed a decline in password policies, network firewalls, restricted admin rights, and software security update policies. This laxness increases the targets available to cyber criminals, highlighting the need for improvement.
3. Focus on IoT security: By April 29, 2024, all IoT device suppliers in the U.K. will need to comply with security regulations. However, many organizations still rely on legacy devices that often lack built-in security features and receive infrequent updates. This poses a significant risk, especially for critical national infrastructure systems such as hospitals and utilities. Organizations need to prioritize securing IoT devices from the design phase to mitigate common attack vectors.
Overall, businesses need to prioritize cyber security in 2024 by staying informed about emerging trends and implementing robust security measures to protect against cyber attacks.
