Cybersecurity trends to be on high alert for in 2024

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Stay ahead of evolving threats and safeguard your digital assets with essential knowledge on the latest cybersecurity developments.

As the new year rapidly approaches, we are all looking forward to seeing what the future will bring to our business. We are prompted to make resolutions about our careers, business goals, lifestyles, and more. Yet, the unpredictability of the last couple of years is clear. We have witnessed pandemics, global war conflicts, and the exponential growth of technology.

As we enter 2024, one thing remains certain – the broader implication of technological advancement remains unknown for businesses around the world. Specifically, technological advances could be highly advantageous, or they could pose a grave risk to your business’s cybersecurity.

To help you protect your business from cybersecurity threats in 2024, we have created a list of the top cybersecurity trends. Knowledge of these trends will help you protect your intellectual and physical business assets.

Here are 8 cybersecurity trends your business should be aware of in 2024:

Malicious code

Generative AI can produce and explain code. Cybercriminals might use generative AI to write malicious code – writing exploits, automating attacks, and more. Such AI tools function as coding partners for security research and software engineers. Nevertheless, these tools can also be a teacher and partner to cybercriminals.

Businesses must be aware that when cybercriminals use generative AI to write malicious code, the cybersecurity attacks they create might be more sophisticated and advanced.

Social media scams

We are no strangers to social media scams, as they have been present ever since social media was first created. However, today AI is making its presence known in the social media arena.

AI-created content can be easily mistaken for its human-made counterpart, giving cybercriminals an additional avenue to use to fish for your sensitive data. With the help of AI technology, cybercriminals can create highly attractive content scams, ranging from fake news to deep fakes.

So, if you engage in digital marketing, you should always include your distinctive touch and steer clear of AI tools, no matter how helpful they may first appear.

Text-to-video content

The idea of producing a video without any knowledge of editing or filming, using only a script, might sound appealing. However, videos created with text-to-video content are a breeding ground for deep fakes, phishing scams, and misinformation.

If you have been part of the tech game for some time now, you are probably able to differentiate AI from human-produced videos. However, with the rapid advancement of technology, AI videos are becoming more advanced by the day. Today, such videos often include voices that sound incredibly human-like.

To see this technology in action, load up TikTok, search for your favourite song, and add ‘[artist] AI cover’ next to it. You will be amazed to hear how eerily close the AI sounds to the artist’s voice.

So, what is the take-away message? Approach any text-to-video content with an element of scepticism.

Sophisticated digital blackmail

In the past digital blackmail was primarily simple ransomware. However, today digital blackmail is becoming personal. The initial goal of such scams was typically to steal your data. Now hackers are looking for ways to use and assume your identity to gain access to well-kept company secrets. Given this, businesses need to be on high alert.

No matter how real emails and other forms of digital threats seem, you should not accept them at face value.

Organizations need to stay informed about compliance requirements and ensure their cybersecurity measures align with evolving standards.

BYOAI = Data Breach Risks

Businesses are always looking for ways to help their employees become more efficient. Given this, many businesses are welcoming AI. With that in mind, it would not be surprising if ‘BYOAI’ (or Bring Your Own AI) will become the word of the year in 2024.

Managers are recommending that their employees use AI tools to help them with their job tasks. So, why is BYOAI considered a trend that could become a potential cybersecurity threat to your business? It is quite simple – you do not know where the AI your employees are using is coming from.

Additionally, because AI is also becoming common in employee’s daily lives, it might be hard for employees to separate between personal and work AI-based information. Thus, when your employees use AI for work, your business might be exposed to data breaches (as your employee’s personal AI-based information could be compromised, likely without their knowledge).

Scam emails

Like social media scams, email scams are not a novelty. However, with the advent of AI, these scams are more sophisticated than ever. Cybercriminals can use AI to mimic your tone of voice and your writing habits, tricking your employees into thinking that their boss has sent them an email asking for information such as sensitive company data.

Given this, it is of utmost importance that your digital defences are strong. Two-factor authentication is necessary, and you might also need to double-check to ensure that no one is assuming your identity via any channel(s).

To avoid such scams, let your employees or employers know when you send them an official email. Moreover, if you suspect something suspicious is happening, arrange a traditional face-to-face conversation.

Malware and hacking attempts

Everyone wants to jump on the AI bandwagon, and cybercriminals know this. As such, many cybercriminals have developed clever fakes that pose as exact replicas of original AI tools.

Imagine that you have downloaded the latest tool everybody is raving about, only to discover that you have downloaded a clever fake and as such, malware that feeds on your data. Cybercriminals are becoming more sophisticated in their approaches and are now not only looking for your data. Today these criminals are also after your identity.

Nevertheless, the creators of the latest AI tools are doing their utmost to protect their work, which is why they are providing seals of authenticity, so you know when you have downloaded an authentic AI tool.

Additionally, it is recommended that you keep up to date with the latest AI tool trends on social media, as AI companies frequently post news about any phishing scams that might arise.

The rise of the metaverse

In mid-2023, the tech giant Mark Zuckerberg introduced the first virtual world known to humankind – the Metaverse. While it is still very much in its developmental stages, due to the complexity of the technology behind it, it does show very promising potential for the business world.

Namely, the Metaverse can add another level of convenience and reliability to business tasks. Soon, you might not even need to leave the house to go to work, instead, you will simply put on your virtual gear and ‘pop into the office.’

Furthermore, you might be able to use the Metaverse to create virtual showrooms where you can highlight your services and products. Your clients will have the opportunity to test out your services without leaving their offices.

Conclusion

In 2023, one word widely talked about was Artificial Intelligence (AI), and as seen, AI shows no signs of slowing down. Most major tech companies have turned their attention towards this innovation. So, it comes as no surprise that the biggest cybersecurity trends for 2024 are deeply intertwined with AI technology.

This article has provided you with the top cybersecurity trends and potential threats your business should be aware of in 2024. So, as the New Year celebrations draw near, your business will need to shift its focus toward protecting itself against such cybersecurity developments and risks.

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