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How Evolving Cybersecurity Threats and Defenses Are Affecting the Industry
Future of Cybersecurity: Trends and Predictions
As the world economy continues to become more reliant on digital assets and information, data—specifically, who controls the data—affects everything from struggles for political power to the security of your bank account.
According to a Forbes article, the global cost of cybercrime is predicted to hit $10.5 trillion by 2025. If you find 10.5 trillion a tough number to comprehend, you’re not alone.
Let’s try to add a little perspective. In fiscal year 2022, the U.S. government collected $5 trillion in revenue and spent $6.5 trillion. So, $10.5 trillion lost to cybercriminals is a pretty big deal.
Cybersecurity analysts and managers continue to lead the fight against cybercrime, constantly developing and employing new technologies and strategies. Cybersecurity training by colleges and universities, as well as businesses and organizations, continues to evolve at a rapid pace. All this makes cybersecurity one of the hottest and fastest-paced industries to consider entering. Learn more about the growing field of cybersecurity management.
In this article we’ll look at:
- Trends in cybercrime and cybersecurity defenses
- Predictions on how the cybersecurity industry will evolve
Cybersecurity training and how you can become a cybersecurity warrior.
Trends in Cybersecurity
Cybersecurity analysts and managers have two primary goals:
- Respond quickly and effectively to cyberthreats to mitigate damage
- Proactively defend against potential cyberthreats to reduce and minimize cybercrime
Phishing and ransomware continue to be favorite techniques of cybercriminals because of the high success rate of these types of cyberattacks. Identity theft and identity fraud are becoming ever more common as cybercriminals discover new ways to obtain and exploit personal data to commit financial crimes.
Cybersecurity analysts and cybercriminals are both employing new and emerging technologies, including artificial intelligence (AI) and machine learning.
How cybercriminals are using AI
As with any technology, AI can be used for good or bad purposes. Cybercriminals are leveraging AI to commit cybercrimes such as:
- Social engineering schemes – using AI to trick individuals into providing sensitive information
- Password hacking – employing AI to improve algorithms that decipher passwords
- Deepfakes – using AI to create stress, fear or confusion
- Data poisoning – leveraging AI to provide deceptive information
How cybersecurity analysts are using AI
AI is being used to assist cybersecurity professionals in reacting to threats and taking down cybercriminals. AI can be leveraged to:
- Analyze huge amounts of data rapidly to contain threats
- Detect cyberattacks more accurately than humans
- Identify suspicious emails and messages often used in phishing campaigns
- Simulate a variety of attacks to help identify potential vulnerabilities
Predictions of the Future of Cybersecurity Management and Cybercrime
One of the top predictions in cybersecurity management is that there will be an even stronger focus on the development of new and more effective tools to not only respond to cyberattacks, but to prevent attacks in the first place.
Let’s look at one example. Cybercriminals are already using AI and machine learning as tools to locate and exploit vulnerabilities in threat detection models used by cybersecurity analysts. Much of the problem has to do with cybercriminals having learned how to exploit vulnerabilities in open-source code.
In response, cybersecurity analysts have developed a Software Bill of Materials (SBOMS) that organizations are urged to employ to reduce open-source code vulnerabilities. Think of SBOMS as a list of ingredients of the open-source code. This formal record containing the details and relationships of various components of the software limits cybercriminals’ ability to exploit open-source code.
A Bipartisan Policy Center report identified a number of top cybersecurity risks to watch out for, including:
- The evolving geopolitical environment – cyberattacks by state actors against other states, such as tactics used in the war launched by Russia against Ukraine
- The accelerating cyber arms race – attackers are stepping up their assaults on beleaguered organizations as defenders must keep pace
- Global economic headwinds – stock market volatility and inflation pose risks across the cybersecurity sector
- Overlapping, conflicting, and subjective regulations – a complex patchwork of laws and regulations that need to be better aligned
- Talent scarcity – an ongoing shortage of qualified cybersecurity analysts and other personnel that continues to expose organizations to cyber risk
This last risk—talent scarcity—is one we know how to address. Washington University in St. Louis (WashU) offers a Master of cybersecurity management (MCSM) degree through our Sever Institute. This degree, which can be earned online or on campus, offers outstanding cybersecurity training for those who want to become leaders and difference-makers in the cybersecurity field.
Combining theory with real-world applications, our MCSM degree program’s cybersecurity training focus will strengthen your management acumen, collaborative problem-solving, interpersonal communication and leadership competencies. By earning your MCSM at WashU, you will develop valuable job skills that will prepare you for a broad range of cybersecurity leadership positions.