12 Cybersecurity Predictions To Watch Out For In 2020
Let's not forget that a learned assumption based on experiences gained so far backed with reliable big data is no more a mere random prediction; it's bound to be the fact.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The year 2020 is going to prove to be a watershed year in many ways. It is the year of the US Presidential Elections, and Trump's fortunes could swing anywhere. Let us begin by making a cybersecurity prediction concerning the US Presidential Elections.
Hackers will Target the Voter Registration Systems During the 2020 Elections
The 2016 US Presidential Elections were not the cleanest ever. Similarly, one cannot expect the 2020 Elections to be so. Hackers will try their best to target the state and local voter bases to influence the elections one way or the other.
Medium-sized Enterprises will Adopt Multi-factor Authentication
Today, almost every business has a presence online. Hence, you have passwords flying all over the Internet. A significant number of them could have found their way into the Darknet. Therefore, mid-size businesses would require upgrading their security as a safeguard against data breaches. Multi-factor authentication could well become the need of the hour.
Third-party Attacks will Rule the Roost
Hackers always search for the easiest ways to infiltrate into computer networks. It is understandable because it does not make sense to try out strenuous methods when simple ways are readily available. Third-party supply chain attacks present hackers with the ideal opportunity for infiltration. The trend in 2020 is not going to be different in any way.
A GDPR-type Regulation Could Well Come to the US
General Data Protection Regulation (GDPR) is the ideal thing that has happened to the European market. It protects ordinary consumers by providing them with the necessary data privacy that they want so badly. The law got its teeth by enforcing the GDPR. It has empowered the enforcement authorities by making it possible to penalize the big fish. Such a stringent regulation is due to the US markets, as well.
The Cybersecurity Skill Gap will Widen Further
More people are becoming aware of phenomena such as data breaches and state-sponsored cyberattacks. Therefore, the demand for skilled professionals to tackle cybercrime is on the rise. The year 2019 saw the maximum number of data breaches ever, and there is still a month to go. The year 2020 can thus see the cybersecurity skill widening further.
Healthcare Frauds could Top the Charts in 2020
Today, health insurance awareness is at its highest. Almost everyone has health insurance. The rising healthcare costs could be a stimulating factor. However, it also opens up the possibilities of fraud happening in this sector. Criminals find this sector to be a soft target because there is no apparent loser in sight. The year 2020 could see a spike in healthcare fraud.
Businesses will Start Allocating More Towards Cybersecurity Budgets
The increasing number of cybercrimes will force all organizations to invest more in tackling them. There is a tremendous shortage of skilled experts to deal with cybercrime. When the demand is high, the cybersecurity budgets are sure to rocket. Enterprises will start investing more in retaining the best talent.
5G can Bring with It a Host of Cybersecurity Issues
By 2020, the primary communication network operators would switch over to 5G. The opportunities will increase, and the threats will follow suit. Supply chain management and development could be the most significant beneficiary of 5G. At the same time, this segment is the most vulnerable, as well.
Insider Threat will Still Remain a Significant One
The insider threat has always been an enormous factor concerning cybersecurity. Hackers cannot access systems easily without insider support in some way. The security systems employed by businesses all over the world can thwart the best of hackers. However, when you have insiders siding with hackers, it becomes convenient for them. This threat will continue to remain a significant one.
AI-based Cyberattacks Could become Sophisticated
Artificial intelligence (AI) and machine learning (ML) have become the bywords in the industry today. As you find more businesses becoming online, investment in AI can only move one way. At the same time, it also encourages cyber criminals to adapt to AI and ML to infiltrate computer networks. These attacks could assume considerable significance in the years to come.
Cloud Misconfigurations will Remain as One of the Top Data Breach Causes
As of today, a significant amount of data is there on the cloud. Misconfigured cloud storage was one of the most significant reasons for data breaches in 2019. The case of the AWS S3 bucket is a simple example of what a misconfigured cloud storage device could do. It will remain one of the top data breach causes in 2020, as well.
Never Ignore the Humble Phishing Attempts
Have you forgotten something? Yes, in this age of digital sophistication, you speak about data breaches and ransomware. However, the humble phishing attempts by hackers cannot be ignored. It should not happen that the network is protected from the sophisticated crimes only to allow the hacker to go back to the original phishing ways. It will still retain its charm in 2020.
Now that the 12 predictions are made, you may give a thought to each one of them and must verify which of them are relevant to your area of function and take necessary safeguards to make sure you are prepared for them. These predictions should help one to maintain strict vigil and ensure that the hacker does not get a backdoor entry into the systems. Perhaps hundreds of hackers could be reading these predictions, as well.