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2022 is not a good year for businesses and government institutions regarding digital attacks. However, the previous year was a wake-up call to strengthen their respective security architecture online.
There are 4000 data breaches recorded in 2022, forcing companies to give focus on their cybersecurity budget. Government institutions and businesses alike are victimised by ransomware and cyber attackers.
According to KuppingerCole analysts, Machine Learning algorithms are now widespread and utilised by cybersecurity technologies. It is under the umbrella of Artificial Intelligence (AI) that helps analyse data sets and spot suspicious data. Because of that, the security industry is devising solutions to lessen, if not eliminate, these incidents.
Security systems can recognize more complex potential assaults with ML-based detection models. Increased usage of ideas like supply chain risk management and zero trust architecture is also assisting organisations in strengthening their defences against these dangers.
The analysts used a SWOT analysis method to examine and know the trends in the cybersecurity market YoY.
“Machine Learning-enhanced detection models are now necessary for effective cybersecurity defences. On a day-to-day basis, the volumes of data that cybersecurity tools process exceeds human capacity,” analysts stated.
The following are ML’s strengths:
- malware identification and prevention
- network intrusion prevention
- optimise cybersecurity teams’ workflows
- Identity and Access Management (IAM) in terms of biometrics
Its weaknesses, on the other hand, include the following:
- “Human errors, vulnerable networks, and systems, as well as lack of training, contribute to increasing the attack surface.”
- Expensive solutions like VPN
- insufficient technical and human resources to maintain security infrastructure
The opportunities found are:
- Employee training due to increasing ransomware and phishing attacks
- Implementing ZTAs (zero trust architectures)
- Passwordless Authentication solutions
- Secure Access Service Edge (SASE) solutions
“Attackers use publicly available information to carefully craft messages that seem authentic. For example, emails purporting to be from CEOs or managers asking for urgent help is one of the most common attacks. Some organisations are employing old-fashioned codewords that are only shared in person that can later be used to authenticate suspicious orders,” said KuppingerCole analysts.
“In fact, government organisations are at risk more than ever. An example is Costa Rica, which suffered one of the disruptive cyberattacks of 2022. The ransomware attack affected tax and customs offices, utilities, businesses, healthcare systems which led the government to declare a national emergency. Costa Rican authorities resorted to request help from the US to respond to the incidents and get back up and running, but many sectors of Costa Rican society remained in a state of crisis for months.”
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