Cybersecurity: Challenges and Opportunities for 2023

Feb 8, 2023 | cybersecurity

Between 2020 and 2021, the average number of attempted cyberattacks per company rose by 31%. And these attacks have cost businesses dearly with the loss of data, revenue, and brand reputation. According to one study, 60% of small businesses have to close their doors within six months of a breach.

In 2023, attacks will continue to escalate, targeting a wider attack surface than ever before, so it would be wise to take these attacks as a given and focus for this year on how cybersecurity professionals might respond.

1. Cybersecurity Spending

Cybersecurity spending is likely to increase becouse it’s become an essential budget line and, in many cases, now represents an organization’s license to trade.

As attacks and risks increase, so will spending as security continues to climb up the risk registers of organizations in both the public and private sectors.

2. State-Sponsored Cyber Warfare

Back in February and March of the past year, it was widely predicted that Russian-backed cyberattacks and disruption would become a significant issue. There will be 70 elections due to take place around the world in 2023, which have increasingly become a magnet for state-sponsored attacks wanting to cause confusion and exert influence.

3. Artificial Intelligence And Machine Learning

These technologies will play a major role in the development of automated security solutions that help predict patterns and behavior of attack.

4. The Internet Of Things

Our cars and homes are packed with software that invites bad actors to launch attacks, and the year ahead will see more of these devices targeted.

5. Cloud Security

The key cloud-related risk is how we actually engage with the technology at the periphery, as the main providers generally offer an extremely secure core environment. Organizations must be more proactive in the way they secure files as they’re upload.

6. Cybersecurity As A Leadership Issue

Next year, leadership teams and boards coming to understand that cyber is primarily a risk conversation. Many leaders have learned this lesson and will be far more effective in dealing with their CISO and security teams as a result.

7. Legislation

In 2023, we should expect more legislation holding vendors accountable. This will happen across the world in both the public and private sectors, leading to more maturity in the industry and increasing consumer confidence.

8. The State Of The Cybersecurity Sector

Investors will prioritize a route to profitability that will likely lead to a smaller number of cybersecurity players. Only strong solutions with existing and growing revenue driven by tried and tested technologies will make it through the next two years.

What’s key is to ensure that cybersecurity is at the heart of any organization’s digital strategy. It’s an enabler of growth. Those for whom cybersecurity is a strategic priority will be far better equipped to deal with any new risks ahead.



(1) Forbes

(2) Spiceworks

Image: Werner Moser in Pixabay


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