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Cybersecurity Trends That Will Impact Businesses in 2023

In 2023, six key trends are expected to dominate the information and cyber security landscape.

A privacy-first approach to information security is becoming increasingly important for businesses. Regulations such as GDPR and, if you trade transatlantically, HIPAA and the Privacy Act are making it mandatory for organisations to demonstrate best practices in data security.

Companies must be prepared to face an intensifying risk landscape due to the Internet of Things and a widening cybersecurity skills gap. Companies will need to stay up-to-date on the latest cybersecurity trends in order to protect their data and systems.

Social engineering and phishing are the most dangerous cyber security threats according to 75% of cyber security professionals. Multiple organisations have suffered from such attacks, highlighting the importance of staying aware of phishing threats. Businesses should ask cyber security professionals for their forecasts in order to stay ahead of emerging threat vectors.

The most dangerous cyber security threats of 2023

In 2023, six key trends are expected to dominate the information and cyber security landscape. These include increased use of artificial intelligence, cloud computing, biometrics, blockchain technology, quantum computing, and edge computing.

Trend 1: A Privacy-First Approach to Information Security

Privacy is becoming the leading factor in the compliance landscape, replacing information security. Platforms such as Google and Apple are introducing privacy-first policies to meet the demand for privacy. Organisations that demonstrate a privacy-first approach to their information management will benefit financially and build trust with customers.

ISO 27001 and ISO 27701 provide frameworks for achieving privacy-first information security. These frameworks help to ensure the confidentiality, integrity and availability of user data. They empower businesses to embed strong information security management behaviours.

Trend 2: A Global Harmonisation of Information, Privacy & Data Regulation

Harmonising global information and data privacy regulations will improve security, innovation, and cost. Harmonising security frameworks will reduce risk and enable global trade and business.

Interoperable architectures facilitate privacy and security by design, reducing the risk of data compromise. Harmonising security frameworks globally will improve data protection, innovation and interoperability.

Harmonising regulations will reduce risk and build trust across borders and supply chains.

Fewer national data residency laws will minimise data duplication and enable privacy and security by design.

Trend 3: A Passwordless Future Ahead

Passwordless security frameworks offer a real opportunity to tackle the scourge of phishing while providing better security, privacy, scalability, and convenience. Adopting a passwordless approach benefits both enterprises and customers by eliminating the risk of password breaches and credential stuffing attacks and improving the user experience.

Expect to see this rise in popularity in 2023 whilst using a zero-trust model, identity access management practices and robust security controls for smoother and more secure authentication.

Trend 4: The Supply Chain Problem Persists

Cybercriminals are increasingly leveraging the supply chain for financial gain and as a political attack vector, particularly in critical national infrastructure. The threats introduced into the supply chain are becoming more complex, frequent, and widespread.

Companies must strengthen their supply chain security and risk management capabilities to protect against cyberattacks and maintain a positive reputation. Organisations can use an information security management system and framework to review and ensure information and cyber security.

Establishing a secure supply chain is essential for organisations to maintain data integrity.

Trend 5: Internet of Things Risk Landscape Intensifies

Gartner estimates that by 2023, there will be three times more IoT devices than humans. The EU Cyber Resilience Act will introduce mandatory cybersecurity requirements for products sold in the region, however the law won't have authority until 2025 at the earliest.

Trend 6: Creative Approaches to Managing the Cybersecurity Skills Gap

The current cybersecurity skills gap is estimated at 3.4 million, requiring a creative approach to recruiting and retaining talent. Companies should look beyond degrees and technical training to secure cyber talent, as well as develop and train existing employees. Outsourcing strategies can supplement internal capability, reduce pressure on internal teams, and provide time for upskilling.

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