As ransomware gangs are expanding themselves with stronger knowledge and techniques, private firms and enterprises will not be able to enjoy the benefits of zero trust efforts in the upcoming years in the online world.
Due to this, the rise in attacks on operational technology might also hold real-life consequences. And, these are the forecasts made by cyber security experts around the world.
The following list is by renowned tech analysis firm Gartner which stated that business leaders must develop strategic planning to develop security strategies in the upcoming years.
“We can’t go back into old patterns and treat everything the same way we used to,” Gartner senior director analyst Richard Addiscott said.
“Most security and risk executives now understand that a big disruption is only one catastrophe away. We have no influence over it, but we can modify our thinking, philosophy, programme, and architecture,” Addiscott said.
1. The rights of consumers to privacy will be expanded
Privacy regulation will continue to expand and technical analysts are predicting to extend the cover to five billion people along with more than 70% of the global GDP.
They also stated that the organizations should keep a track of subjective rights on requesting metrics which include cost per request and the time to fulfil and identify the inefficiencies and justify the process of accelerated automation.
2. By 2025, 80% of businesses will have implemented a strategy to combine web, cloud, and private application access
Garter also stated that with the rise in hybrid work culture, the vendors are offering the edge to edge security services across web and cloud application security.
It will also increase the integration level by minimizing the use of consoles and lowering the data of locations that have to be decrypted, inspected and then re-encrypted.
3. Many businesses will embrace zero trust but fail to reap the benefits
According to the tech analyst, by 2025, 60% of firms will strive to implement zero-trust security.
A notion that believes there is no traditional ‘perimeter’ to the corporate network, therefore all devices and users must be re-authenticated on a regular basis.
However, it is predicted that more than half will fail to reap the benefits.
According to Gartner, replacing implicit trust with identification and context-based, risk-appropriate trust is incredibly powerful, but achieving the benefits requires a cultural transformation and clear communication that relates it to business goals. And not every company that tries will succeed.
4. Cyber security will become an important consideration when selecting business partners
According to Gartner, by 2025, 60% of firms would consider cyber security risk as a “primary determinant” in third-party transactions and business engagements.
According to Gartner statistics, only 23% of organisations monitor third parties for cyber security vulnerability in real-time.
However, it expects that as a result of consumer and regulatory pressure, firms will begin to demand evaluation of cyber security risk, from simple monitoring of a crucial technology supplier to comprehensive due diligence for mergers and acquisitions.
5. Ransomware payment legislation will become more stringent
There is currently minimal legislation governing when organisations can and cannot pay ransomware demands.
Gartner forecasts that one in every three countries will pass similar legislation soon.
The decision to pay or not pay the ransom is a business decision, not a security one.
Before negotiating, Gartner recommends involving a professional incident response team, as well as law enforcement and any regulatory bodies.
6. Hackers will utilise operational technological environments as a weapon to cause human deaths
Attacks on operational technology (OT) hardware and software that monitors or controls equipment, assets, and processes and is often the brains behind industrial systems in factories or power grids have become more common and disruptive.
According to Gartner, which predicts that by 2025 threat actors will have “weaponized” operational technology environments to cause human casualties.
According to the analytics group, in operational environments, security and risk management professionals should be more concerned about real-world threats to personnel and the environment, rather than information theft.
7. More than simply cybersecurity will be included in resilience
By the end of 2025 more than 70% of CEOs will adopt the organizational culture of resilience for dealing with the threats from cybercrime.
It will also deal with severe weather events followed by civil unrest and political instabilities.
Gartner stated that with the continuation of disruption they recommend that the risk of leaders for recognizing the organizational resilience as a strategic imperative.
8. Cyber security will be important for the CEO’s remuneration
By the end of 2026 more than 50% of C-level executives will carry performance requirements that are related to the risk which are built-in in developing their employment contracts.
This is the statement mentioned by Gartner.
Currently, the boards are rapidly increasing their regard for cybersecurity as there is a continuous rise in cyber-attacks and there is a business risk and not just a technical issue.
Accountability related to cyber risk will divert from the security leader to the senior business leaders.
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