Emerging Data Security Trends to look out for

The technology landscape is undoubtedly a highly dynamic one. Even with innovative cyber security and protection techniques being introduced every day, hacking systems still pose an immense threat to companies. Therefore, ensuring the protection of your company’s data is one aspect that you need to consider in today’s age. As an increasing number of businesses are investing more in information technology, the management needs to be aware of the changing trends to ensure smooth operations and to stay ahead of the competition. Let us explore a few top emerging data security trends all companies should watch out for in near future.

Increasing Role of Artificial Intelligence

Statista indicates that the global market for artificial intelligence (AI) is expected to reach a value of $126 billion by 2025. The majority of the businesses have adopted AI to reap numerous benefits such as lower operational costs, increased efficiency, and improved sales. When it comes to cyber and data security, AI has been a crucial aspect that has enabled maximum protection with techniques that detect malware and threats instantly. As AI also facilitates better hacking methods, businesses need to be even more cautious when keeping their systems up to date with the latest AI technology to ensure maximum protection.

Increase in Insider Threats

While most security attacks might be external, threats from inside the business are also fairly common. Recent research by Verizon suggests that 22% of security incidents are due to inside sources. It is especially true with the introduction of a remote and virtual workforce in recent times, particularly due to the ongoing pandemic. With a highly diverse employee base and business partnerships spanning across countries, the incidences of data breaches and thefts are on the rise. Therefore, companies need to ensure that proper tools and systems for security are being utilized.

Advanced Automated Security Systems

Most enterprises only focus on specific aspects and fail to address all the elements involved in the technological domains. It results in an incomplete picture of and knowledge regarding the potential opportunities for data protection and the possible threats. Advanced automated security systems cater to this problem by providing data and information with real-time visibility that enables users to manage and control security-related issues in the fastest way possible. Thus to keep up with the security demands, businesses need to invest in updated security automation techniques.

Rise of Ransomware

Ransomware is one of the most common cybercrimes faced by companies and is on the rise constantly. As smarter ways to hack and exploit data are being utilized, it has become easier for criminals to steal data and threaten a company in exchange for ransom. According to National Security Institute, the average ransom amount has increased from $5,000 to $200,000 from 2018-2020. The majority of the ransomware activities are conducted through phishing, and most Virtual Private Networks (VPNs) are not sufficient when it comes to security. Instead, companies using Zero-Trust Network Access (ZTNA) have better data protection with reduced risk of a data breach.

Need for Chief Security Officers

Even though many businesses realize the importance of data security, they are too focused on corporate strategies and other operations to provide it effectively. Without dedicated personnel who have the expertise to handle data, most companies are not able to eliminate or reduce the possibility of an attack. Thus, the role of a Chief Security Officer (CSO) is also gaining popularity rapidly. A CSO manages the company’s data and is responsible for preventing cyber incidents. This also helps bridge the gap between the management and the rising need for cybersecurity.

What it Means for Businesses?

In order to keep pace with the ever-changing data and cybersecurity trends, companies need to adopt a more proactive rather than a reactive approach. It includes prioritizing data protection by adopting the latest security automation techniques to minimize the threats to sensitive data and assets. Furthermore, promoting a culture that encourages and educates employees about data security and employing individuals with expertise in cybersecurity is a wise way to ensure optimum data management and protection.