Cybercrime is growing at an exponential rate. The cost of cybercrime is expected to reach trillions in 2023 alone! This means that business ventures, including both small and large companies, are expected to pay a cost close to this amount to hackers and cybercriminals this year.
With hackers in no mood to slow down, markets are expected to suffer terrible losses to cybercrime. Here are the top cybersecurity trends for 2023:
Table of Contents
#1. The two-edged sword we call Artificial Intelligence
2023 is undoubtedly the year of AI. Cyber Security has already surpassed the hype of the metaverse and cryptocurrencies and has brought in a new normal for people worldwide. The introduction of smart chatbots has also brought other AI tools to the forefront, and people are already starting to get the most use out of these latest technologies.
AI is already being used to detect anomalies in software and patch any security loopholes in programs or applications. This tactic is useful against hackers who depend upon discovering and exploiting these loopholes so they can make a buck or two at the company’s expense.
However, hackers are smart, and they’ve learned to use AI as the two-pronged sword that it already is. That’s right.
Hackers have started doing exactly what the security researchers were already working on: detecting software vulnerabilities using AI. These vulnerabilities are exploited, of course, and the hackers use the opportunity to make a lot of money.
Unfortunately, AI doesn’t live up to its name. It’s an amazing technology, but it’s not intelligent enough to choose sides. That is why it’s helping both the good guys and the bad guys at the same time.
With no controls over them yet, AI is expected to do more harm than good in the context of cybersecurity. And we haven’t even mentioned the risks to your privacy when you use these AI tools, but that is a topic for another time.
#2. Hackers planning to invade the metaverse
The idea of living in your own virtual space is enticing, so much so that many companies have already invested billions of dollars in this up-and-coming technology. The hype of the metaverse was already toned down in early 2023, but the potential release of Apple’s Vision Pro has brought the idea back into the limelight.
Unfortunately, though, hackers have already started rubbing their hands in glee. The idea of invading the gold mine that is the meta-verse is too good to ignore. With millions of people around the world connecting to a network that is the metaverse, hackers and scammers are sure to exploit this vulnerability.
We’ve already witnessed a trailer of this happening in the form of NFT scams that had become pretty popular until last year. Everyone, from celebrities to your every day Jimmy and Joe, invested thousands and even millions of dollars into fake NFT scams and lost almost all of their money after the massive devaluation of their digital assets.
This happened even before any credible metaverse domain was launched. Imagine what would happen when the metaverse becomes a norm in our everyday lives.
#3. Self-driving cars going rogue
You may have seen videos of people driving their Tesla cars using their smartphones. Although it looks incredibly cool, imagine what would happen if a hacker gets access to the remote. This is exactly what is expected to happen as self-driving cars become more prevalent in our society.
These automated cars have systems that allow you to connect your devices. Although this is incredibly convenient for the driver, these same systems can be used by hackers to hack your car. They can connect to your car using Bluetooth, WiFi, or many other options available and can tinker with your car’s settings to get more control.
They can hack your private data, such as the areas you visit most often, the people on your call logs, your favorite music, and more. Also, They can use this data to hack into your other profiles and create a situation where they can either blackmail you or sell your data to an interested third party without your consent.
And if they somehow get access to your driving controls, then you’ll literally be at their mercy should they choose to leave you be or crash you and your car.
#4. The dawn of new risks in the shape of IoT
Smart homes and voice assistants are becoming more prevalent than ever. But the risks associated with them are also expected to rise in 2023. IoT devices are expected to grow to a staggering 1.8 billion by 2025. While each device offers a slice of convenience, it also presents a potential entry point for cybercriminals.
Connecting everything, from the air-conditioner to the security locks, to the internet, can create a huge security risk. There have already been cases where hackers got access to these systems and used them for their evil purposes.
While some enjoy performing pranks on the innocent people living in these homes, others hack into security cameras and use the recordings for other heinous purposes. As IoT devices continue to grow, we should expect more of the same in 2023.
#5. The future of encryption
The age of quantum computing is closer than ever, and the traditional cryptographic methods we’ve always been using are now under real threat. With advanced computing methods, the supercomputers of tomorrow are expected to beat the strongest of traditional encryption methods and get access to devices.
Cyber Security brands have already shown proactiveness in this regard by introducing Quantum cryptography. This new form of encryption is supposedly strong enough to even beat the Quantum computers of the future.
However, just like any new technology, its potential is still a far reality. We should expect more improvements as well as greater adoption of Quantum cryptography as the year progresses.
#6. A rise in ransomware
Ransomware has definitely become cybercriminals’ favorite weapon. Easy and effective, it helps them earn a quick buck from anyone desperate to regain access to their data.
However, it’s more than just the technical sophistication that makes ransomware so effective. Cyber Security effect is amplified by social engineering tactics, where cybercriminals exploit human vulnerabilities to gain access to their digital lives.
#7. Cloud security invasions
As more businesses are migrating to the cloud, many often overlook the importance of cloud security. Though cloud services such as Google and Microsoft are considered safe from cyber threats, mistakes from the user end can turn the cloud dream into a Cyber Security nightmare.
It’s on us to keep the cloud assets secure from external attacks, be it through phishing or plain human error.
Is there something I can do to protect myself from these threats?
Yes, there’s a lot that you can do to avoid falling into these cybersecurity nightmares.
For starters, you should avoid using these newform technologies as long as they don’t guarantee the safety and privacy of you and your private data.
Secondly, you should use tools to ensure cybersecurity and privacy for you and your devices when you connect to the internet. There are plenty of tools you can use in this case.
For instance, you can use features like split-tunneling that don’t require you to connect with a secure network at all times but keeps your devices safe when it matters the most.
The final bow
We hope that this small effort on my part will help you understand the importance of Cyber Security. With many businesses already falling prey to cybercrime each day, I hope that you can avoid all the existing and upcoming threats from cybercriminals.
Anas Hassan is a Content Marketer at a leading cybersecurity firm PureVPN. He has vast experience in the field of digital transformation industry. When Anas isn’t blogging, he watches the football games.
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