Emerging Trends in Business Technology That Impact Cyber Risk

A lot of businesses believe that the current first-rate security software installed on their systems and servers protect them from any form of cyber attack. However, business technology and cyber attacks are two sides of the same coin. While technology may have protected business data and information, cyber criminals are also constantly coming up with new and innovative ways to game the system. Hundreds of hacks are successfully done every-day which result in millions of dollars lost for businesses.

The war between security experts and cyber criminals is a constant and ongoing cat and mouse game. As soon as these experts come up with a tool that protects customer information and prevents predatory actions, there is a corresponding (and nearly immediate) creation of yet another dangerous threat for data integrity. The question of whether or not business technology will sufficient address cyber security risk depends on the emerging trends this year. Here are some of this year’s most important trends and predictions.

Standards for Multi-Factor Authentication

According to a recent study from a U.S. communications provider, approximately 63 percent of confirmed data breaches involved taking advantage of weak, stolen, or default passwords. This supports the reality that most businesses today are still depending on single factor authentication.

Companies are hesitant to implement multi-factor authentication because they think that this would adversely impact user experience. However, even the general public is increasingly becoming aware of the dangers of stolen identities and vulnerable data. Industry experts predict that this awareness will lead more companies to adopt multi-factor authentication processes.

Machine Learning

AI or machine learning refers to a system’s ability to learn from the results of previous events in order to predict and detect cybersecurity risks. When machine learning systems receive the right input when it comes to potential data threats, they are able to make immediate decisions on preventing hacks. Machine learning is currently used by the majority of cybersecurity professionals. The most recent development in machine learning enable businesses and organizations to quickly put an end to different types of persistent and advanced cyber threats.

However, machine learning can be a double-edged sword. Although it provides obvious security benefits to businesses, industry experts are also concerned that cyber criminals will use machine learning to develop more sophisticated cyber attacks. For example, AI can be used to automate the collection of information, which may originate from various platforms, including social media accounts.

More Sophisticated Security Technology

New emerging technologies are generating a lot of buzz in the security industry. For example, the creation of remote browsers may be crucial in isolating a user’s browsing session from the network/endpoints. Deception technologies, another new trend in cyber security, function by imitating the key assets of a business or organization and act as a trap for attackers how are looking to steal this information. More and more businesses are also relying on cloud technology to store their information. The cloud now comes equipped with more security features such as virtualized intrusion detection and prevention systems, virtualized firewalls and virtualized systems.

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