4 Major cybersecurity challenges for companies in 2023 | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #ransomware

The majority of these threats are successfully blocked and mitigated right away with basic tools any company can afford or already has on their devices.

Other evolving threats require the intervention of skilled cybersecurity experts and more sophisticated security solutions.

In 2023, organizations have more available security tools, certifications, and cyber experts than ever before. Yet, cyber protection within companies is still an uphill battle.

What is happening behind the curtains of cybersecurity today?

Here are four major obstacles that impede proper defence of attack surfaces and continual strengthening of the security postures today.

#1 Increasing Number of Cyber Attacks

Ransomware, social engineering attacks, and malware are some of the most common cyber attacks increasing in 2023. Reasons for the surge of these and other cyberattacks in 2023 include:

  • An increased number of AI-driven attacks
  • The growing attack surfaces of businesses
  • A rise in cyberattacks-as-a-service

Small and middle-sized businesses invest less in security and often don’t have enough security professionals (or sometimes any at all) to continually monitor and improve their security posture.

Therefore, SMEs are especially vulnerable to AI-based cyber attacks. For instance, a firewall could go down overnight without the company even realizing it.

In addition, many businesses have adopted the cloud without addressing the major cybersecurity concerns that an increased attack surface brought to the company — such as cloud misconfigurations or supply chain vulnerabilities.

Then, there are individuals and groups who provide cyberattacks as a service. Criminals who don’t have the technological knowledge themselves can pay for damaging cyber exploits. Ransomware gangs are known for providing ransomware as a service.

#2 Difficulty in Finding the Right Security Professionals

Within the last couple of years, there has been a major skill gap in cybersecurity. Many roles are left unfilled because hiring cybersecurity experts with the right skills is challenging.

According to Statista, the most difficult positions to fill within IT (security operations) have been within cloud security, network security, risk management, and software development security.

Also, many cybersecurity professionals have been resigning or seeking employment in other companies. They cite reasons such as chronic stress, poor work environment, lack of satisfaction with the pay, or no opportunities for growth for their resignations.

At the same time, security professionals have been affected by major layoffs documented in tech companies in the last couple of months.

Although it wasn’t expected that the security sector would be affected by the layoffs, layoffs have been happening within cybersecurity companies that have to keep up with the growing market and increased competition.

#3 Budget Cuts Affecting Cybersecurity

In 2021 and 2022, CISOs have been working with budgets that grew 17% compared to previous years. In 2023, with more cyber threats (old and evolving), the budget intended for security operations grew slowly — only 6%.

CISOs prioritize employing security experts who can help the companies identify and mitigate sophisticated threats instead of adding more technological assets to the company’s security posture.

Economic uncertainty and the hiring spree that took place during the pandemic are some of the factors that are resulting in massive cuts in staff.

This means that tech giants that used to massively hire professionals with the rise of remote work in 2020 are currently undergoing major layoffs.

As a result, security is understaffed in times when robust protection and the development of security products that can effectively detect and mitigate new threats are needed the most.

#4 Sophistication of Emerging Cyber Threats

Security experts are also combating advanced threat actors and zero-day exploits.

Cyber attacks target undiscovered vulnerabilities or hit an organization with sophisticated attacks that bypass existing security tools.

Since their signature is unknown to the protective tools a company has, evolving threats have to be identified and mitigated manually by skilled security professionals.

For example, Google, Amazon, and Cloudflare recently shared that they discovered one of the most damaging Distributed Denial of Service Attacks (DDoS) to this day.

The attack happened on October 10 and counted a record-breaking 398 million requests per second (RPS) — eight times stronger than any other previously recorded DDoS exploit. It took down multiple websites.

The attack was possible because of the previously unknown vulnerability (zero-day exploit now known as CVE-2023-44487).

Is The Future of Cybersecurity AI or Human?

AI and machine learning are already being used to streamline repetitive processes within cybersecurity. Despite these helpful tools, the future of cybersecurity is ultimately human. We still need security experts.

All four issues: the rise of cyber attacks, their increased sophistication, budget cuts for cybersecurity spending, and the skill gap for professionals, are interconnected.

An increasing number of cyberattacks and the growth of advanced threats require more staff — especially the new employees within the security operations who are skilled in the cyber protection of the most vulnerable parts of the infrastructure, such as apps and the cloud.

Only people can defend the company against evolving threats.

The current budget cuts for the security division of IT create an environment within which it’s demotivating and challenging to continually strengthen security.

The future of cybersecurity is shaped by the way CEOs perceive the need for it.

That is — whether it’s seen as an integral part of the IT spending that will save the finances and reputation of the company in the future or if it’s a luxury that can undergo budget cuts.


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National Cyber Security