In the past year, the global cost of data breaches skyrocketed to USD $4.45 million, marking a 15% increase over the last three years. As we step into 2024, it's crucial for businesses to stay vigilant against emerging technology threats that could potentially disrupt and harm operations.
At Gigabits IT Solutions, we recognize the rapid evolution of technology, which brings both new opportunities and challenges. Not all technological advancements are benign; some pose serious threats to digital security, privacy, and safety.
Here, we shed light on key emerging technology threats to watch out for in 2024 and beyond.
Data Poisoning Attacks
Data poisoning involves corrupting datasets used to train AI models, skewing outcomes and potentially leading to incorrect decisions, especially in critical sectors like healthcare or finance. It's crucial for businesses to safeguard training data integrity and implement robust validation mechanisms to counter this threat.
When utilizing AI-generated data, it's imperative to heavily supplement it with human intelligence and data from other reliable sources.
5G Network Vulnerabilities
With the widespread adoption of 5G technology, the attack surface broadens due to an increased number of connected devices. IoT devices relying on 5G networks might become prime targets for cyberattacks. To prevent large-scale attacks, businesses must prioritize securing these devices and implementing strong network protocols.
Ensure your business has a robust mobile device management strategy, as mobile devices are shouldering much of the workload in today's organizations.
Ransomware Evolution
Ransomware attacks have evolved to include double extortion tactics, causing reputational damage by leaking or selling stolen sensitive data if victims refuse to pay. Robust backup solutions, cybersecurity training, proactive threat hunting, and stringent security measures are essential defenses against these evolved threats.
Supply Chain Attacks Persist
Supply chain attacks persist as cybercriminals infiltrate third-party vendors or software providers to compromise larger targets. Strengthening supply chain cybersecurity through rigorous vendor assessments and continuous monitoring is crucial.
Biometric Data Vulnerability
Biometric authentication methods are becoming commonplace, but compromised biometric data poses a unique challenge as it cannot be changed like passwords. Protecting biometric data through secure encryption and ensuring strict privacy regulations are imperative to prevent identity theft and fraud.
Artificial Intelligence (AI) Manipulation
AI, while transformative, can be manipulated by cybercriminals to spread misinformation, create convincing deepfakes, or automate phishing attacks. Detecting these threats demands robust mechanisms to discern genuine from malicious AI-generated content.
Advanced Phishing Attacks
Phishing attacks, especially spear phishing and vishing attacks utilizing AI and voice technology, have become more sophisticated and targeted. Continuous employee training and automated solutions for detecting and defending against phishing threats are vital.
Cybersecurity Tips for Defending Against These Threats
As technology evolves, so do the threats. It's essential to stay vigilant and proactive. Here are some tips:
Educate yourself and others about the latest technology threats.
Use strong passwords and multi-factor authentication for all online accounts.
Regularly update software and devices to fix security vulnerabilities.
Avoid clicking on suspicious links or attachments.
Verify the legitimacy of callers or senders before sharing information.
Back up data regularly to prevent data loss in case of an attack.
Consider investing in a reliable cyber insurance policy.
Report any suspicious activity to relevant authorities.
Need Help Ensuring Your Cybersecurity is Ready for 2024?
Last year's solutions might not be sufficient for this year's threats. Don't leave your security at risk. Gigabits IT Solutions can assist with a comprehensive cybersecurity assessment to determine where you stand.