With each passing year, the job of an IT administrator is not becoming any easier. Digital Transformation is driving companies to new heights of success. But the growing complexity and openness of their IT infrastructures mean that the gate for hackers and cybercriminals is increasing as well. This article is aimed to give you a technical understanding of the current advances and future directions of cybersecurity especially in 2019.
Adaptation of Multi-Factor Authentication:
Captchas are dead, passwords are weak and biometrics are easily circumvented. 2019 will see a rise in the adaption of multi-factor authentication for increased online security.
Credential compromise can be minimized by combining dynamic context-based authentication with real-time behavior biometrics. Most websites and online services will drop password-only access and offer additional authentication methods like secure OTP (One Time Password), 2-way authentication etc. For users, the additional security might be frustrating in the beginning but ultimately, they will get used to it and realize its importance. Hopefully, online services will balance security and user experience in the near future.
Advanced Threat Protection (ATP) Will Improve:
An ATP software has the ability to prevent, detect, and respond to new and sophisticated attacks. They are primarily designed to detect threats that circumvent traditional security solutions such as antivirus, firewalls, and intrusion prevention/detection systems. Companies will adapt ATPs and they will become more advanced to prevent innovative data breaches in 2019. Also, Microsoft’s ATP will be a standard in the major products of the company especially in Windows Server 2019, and other versions of Windows. With this step, the company continues its efforts to build a security-focused brand image.
Businesses Will Consider Taking Cyber Insurance:
With a lot of havoc caused by ransomware and advanced malware, companies have realized a need for cyber insurance. A business cyber insurance cannot protect your organization from data breaches, but it will protect you from financial loss. It is a form of risk management, primarily used to mitigate the risk of a data breach, server failure or uncertain loss. According to a survey conducted by PwC, the total value of premiums in cyber insurance are forecasted to reach $7.5 billion by 2020. Because IT is the lifeline of major companies, they will start investing in cyber security insurance and secure themselves from any revenue loss caused by downtime.
Blockchain Technology in Financing:
The blockchain is a hot topic across the IT industry for the past 18 months. A blockchain is a kind of decentralized database. A growing list of records called blocks, are linked using cryptography. Every block is made using the cryptographic hash of the previous block, a timestamp, and transaction data. Since each block refers to the previous block, it is resistant to modification of the data. It can record transactions efficiently and in a verifiable and permanent manner. 2019 will see a greater adaptation of Blockchain technology especially in doing online transactions. The use of credit cards will become less popular due to the fear of passwords being hacked by impostors.
Machine Learning (ML)-Based Solutions:
Machine learning is thriving in image recognition and natural language processing. In simple terms, machine learning works by utilizing the knowledge of existing data to predict the new data. It is intended to find anomalies in data by monitoring system logs to detect vulnerabilities in real time. In the current trends, ML works with unsupervised and semi-supervised learning which is less precise than supervised approaches. 2019 will see an improvement in ML-based approaches for cybersecurity. Environment Driven approach and active learning will be used to adapt to the changing environment to make the correct decisions. But unfortunately, the same ML algorithms can be used to conduct cybercrime as well. In 2019, we will also see brute force attacks powered by ML and AI. Attackers will devise advance malware that can teach itself to stay undetected in a data-rich ecosystem.
IoT (Internet of Things) Threats Will Grow:
More and more devices ranging from smartphones to refrigerators, vehicles, smart homes, etc. are now connected to the internet. But a majority of them are not designed with internet security in mind, thus they are more prone to cyber-attacks. Imagine that when you return home, you find that your refrigerator has ordered 100 packs of peanut butter. There are billions of unsecured endpoints open to IoT-powered threats such as DDoS attacks. Internet of Things (IoT) is still a weak point and vulnerable to exploitation in 2019. There will be a growth of vulnerable endpoints and with lack of effective computer security solutions, attack frequency will rise. Manufactures might be impacted the most with IoT threats because they may lose the trust of their consumers once their home appliances are hacked or personal data is stolen.
The fight against cyber-crimes is a battle without an end. Attacks will happen, but companies need to realize that security is not a feature anymore. It should be part of supporting pillars for companies to help them develop their IT infrastructure. Hopefully, in 2019, companies will invest more in improving their security by implementing the latest IT technology available in the market.
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