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As we step into the promising yet challenging realm of 2024, the cybersecurity landscape presents us with an evolving network of threats and opportunities. In order to stay ahead of cybercriminals, organizations must adopt emerging trends in risk resolution efforts. 

In this forthcoming landscape, the emphasis on proactive and adaptive cybersecurity measures is set to soar, urging organizations to shift from reactive approaches to embracing continuous risk resolution efforts. The year ahead holds promise and challenge in equal measure, with technology advancements intersecting with ever-evolving threat landscapes.

The following are my cybersecurity predictions for 2024, in terms of what I foresee will be the top threats of the coming year:

The emergence of AI-guided cyber weapons: Artificial intelligence and machine learning discussions have dominated the cybersecurity discourse. In the upcoming year, there will be a surge in threat actors embracing AI to expedite and amplify every facet of their toolkit. This could involve the cost-effective and swift development of new malware and ransomware variants or the utilization of deepfake technologies to elevate phishing and impersonation attacks to new heights. 

On a similar but contrasting note, employing a proactive strategy, in the same way that cybercriminals have harnessed the potential of AI and ML, cyber defenders are gearing up for a counteroffensive. Substantial investments have already been made in AI for cybersecurity, and this trend will persist as more companies seek to fortify their defenses against sophisticated threats.

Increasing Sophistication of Cyberthreats: Cybercriminals are becoming more adept at exploiting vulnerabilities in dealership systems. From simple password theft to sophisticated phishing schemes, the methods used by hackers are constantly evolving. It is predicted that cyber threats will continue to grow in complexity, requiring dealerships to enhance their security measures accordingly.

Email Phishing and Lack of Employee Awareness: Email phishing remains the top cyber threat in 2024, as highlighted in the report. Additionally, the lack of employee awareness is a growing concern. Companies must prioritize educating their staff about potential threats and implementing robust email security measures to mitigate the risk of falling victim to phishing attacks.

Lots of talk about responsible AI: There’s a lot of discussion surrounding responsible AI practices, and one effective approach to adhere to these guidelines involves collaborating with reputable entities such as Microsoft (Azure). By partnering with Azure’s integration with OpenAI rather than utilizing unauthorized generative AI tools, your organization ensures a higher level of data security and confidentiality.

At Atera, we’ve partnered with Microsoft Azure Open AI — as opposed to other unauthorized generative AI tools — so that our prompts (inputs) and completions (outputs), embeddings, and training data are not available to other customers or used to improve OpenAI models, making the use of AI with Azure arguably the safest way to go about it. 

“With Azure OpenAI, your data remains exclusively yours and is not used to improve other AI models, setting a gold standard for data security and privacy.”

Oren Elimelech, CISO of Atera

Ransomware attacks on the Rise: Ransomware attacks have significantly increased in the past year, impacting company operations and finances. This trend is expected to continue, emphasizing the need for proactive measures such as real-time monitoring, secure endpoint devices, and formal response plans.

Compliance as a driving force: Companies that have implemented security policies to meet compliance requirements have seen improvements in their overall security posture. Compliance will continue to play a crucial role in driving cybersecurity initiatives, ensuring organizations take the necessary steps to protect customer data.

The Cost of Security: While cybersecurity may not directly generate revenue, the consequences of a cyberattack can be financially devastating. The average length of downtime due to a ransomware attack is 3.4 weeks, with an average payout reaching as high as $740,144 to cybercriminals. Companies and organizations must understand that securing their network and systems is essential for maintaining business continuity and protecting their bottom line.

As cyber threats continue to evolve, companies must prioritize cybersecurity measures to protect their data, operations, and reputation. By investing in robust security solutions, employee training, and compliance measures, companies can stay ahead of cybercriminals and ensure a secure environment for their customers and employees in 2024.

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