Part 2 will discuss four more cybersecurity trends in 2021.

4) Rapid Growth of AI

Machine learning and artificial intelligence (AI) are rapidly gaining traction, along with capability, and companies are increasingly utilizing both to improve cybersecurity. Automated security systems are gradually replacing human intervention, and AI makes this transition possible by being able to process and analyze data at ever greater volume and speed.

In 2020, companies utilizing AI-based cybersecurity solutions saved almost $3.6 million on average after suffering a data breach. This AI implementation will make threat detection faster and more efficient, mitigating the losses from a cyberattack that results in a data breach.

5) Cloud Services Increasingly Targeted

The immense growth of remote working during the COVID-19 era drove the increased demand for cloud-based infrastructure and services. Although cloud services provide advantages such as efficiency, decreased expenses, and scalability, their growing popularity has also made them a growing target for cybercriminals.

Companies that have migrated to the cloud must review and revise their cybersecurity strategy due to the resulting vulnerabilities created by this transition. In 2020, misconfigured cloud settings led to data breaches that cost about $4.4 million for each event. Moreover, a cloud migration added on average another $260,000 to the losses.

6) Data Privacy a Core Component

Once only a feature of a company’s cybersecurity planning, data privacy is now a core component. This is due to the government’s gradual increase in regulatory compliance requirements. As a result, businesses will need to devote more time, money, and effort to their data privacy efforts. It is no surprise because compliance will affect several key aspects of every organization, such as human resources, records, and cybersecurity.

7) Pandemic Phishing Attacks

Along with other severe consequences, the COVID-19 pandemic has brought about new types of phishing attacks focusing on victims seeking vaccines and the companies that provide them. Phishing attacks are being deployed via emails that are made to appear as legitimate notices regarding vaccination appointments. Remote workers are considered the best targets by cybercriminals because they must connect to the networks of their employers remotely. Companies must reconsider their identity management and cybersecurity policies to address this weakness.

Part 3 will discuss three more cybersecurity trends in 2021.

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