Experts predict: The business security landscape in 2024

“Besides standard cybersecurity topics like the seriousness of ransomware attacks, data leaks, and emerging business exploitation apps, from expert knowledge sharing and conversations with clients, we predict what other topics will keep businesses on edge next year,” says Carlos Salas, a cybersecurity expert at NordLayer. “Looking into what the future brings eases decision-making, allows more time for well-thought-out investments, and helps organisations to recognise the imperative to stay ahead of the curve.”

Growth of remote work

Research on the US workforce revealed that 40% of the workforce capable of working remotely has moved from working full-time on-site to either a hybrid or fully remote work arrangement between 2019 and 2023. In 2024, this trend will likely remain the same because employees are more likely to sacrifice higher salaries for better and more flexible working conditions.

As businesses increasingly embrace flexible work models, the traditional perimeter-based cybersecurity approaches are becoming less effective. A hybrid working environment makes the company's network perimeter more vulnerable.

“Technologies like VPNs, secure login methods, and access controls are necessary to ensure cybersecurity no matter where employees operate,” Salas says.

Business investments in human firewalls

While technological solutions are crucial in cybersecurity, the human element remains a significant vulnerability. Since humans are usually the weakest link in the business cybersecurity chain, the cybersecurity world can expect to see increased investments in creating a resilient human firewall.
Cybersecurity awareness and education will be a priority for individuals and organisations as the cyber threat landscape becomes more complex and diverse. Organisations will educate employees about the latest phishing techniques, social engineering tactics, and the importance of adhering to security policies. Simulated phishing exercises, cybersecurity workshops, and continuous training will become integral to corporate cybersecurity strategies. By empowering employees to recognise and respond to potential threats, businesses can significantly enhance their overall security posture

AI will evolve to become more broadly accessible

“It is evident that AI threats will continue to pose even bigger risks for businesses. With the rapid advancements in machine learning algorithms and AI technologies, cybercriminals are finding new ways to exploit vulnerabilities and breach data security,” Salas says.

Hackers will automate their attacks and target numerous firms using AI algorithms. Additionally, attackers might create even more convincing social engineering attacks using widely available AI technologies, such as AI-powered chatbots. Phishing attacks will be harder to detect for employees and more broadly spreadable due to the blurred language barrier.

The pool of cybersecurity specialists will continue to shrink

Attracting and retaining top cybersecurity talent has always been a challenge for businesses, and this challenge is expected to grow in 2024. As technology advances, the demand for skilled cybersecurity professionals is increasing exponentially. According to the data from ISC2, despite the cybersecurity workforce expanding by almost 10% in the past year, the need for more workers keeps growing. This means that in 2023 there are around 4 million cybersecurity positions needed to be filled. The research shows that two-thirds of the experts polled said that their company lacks the cybersecurity personnel necessary to detect and resolve security problems.

Budget cuts, layoffs, and limits on recruiting and promotions are responsible for the lack of talent. The constantly changing nature of cyber risks makes it hard for companies to find specialists with the required knowledge.

Adoption of Cloud security

Cloud security evolution will be a key challenge and opportunity for cybersecurity as the Cloud becomes the dominant platform for data storage, processing, and delivery.

The Cloud offers scalability, flexibility, and cost-efficiency, thus creating an appealing cybersecurity model for businesses. It is no surprise that, according to a study, cloud technologies are positively associated with performance gains of US public firms in the last decade. Cloud security refers to the continuous improvement and innovation of cloud security practices and technologies to address the evolving threats and requirements of the cloud environment. For example, zero-trust tools will become the norm for cybersecurity as organisations adopt a more granular and dynamic cloud approach to controlling access to their resources and data.