2023 Cybersecurity Forecast: Navigating the Evolving Threat Landscape

As we transition into the new year, it is important to recognize that the threat landscape in cybersecurity is constantly evolving. In 2022, we observed a significant struggle for many organizations in effectively managing cybersecurity risks, as cyberattacks continue to become increasingly sophisticated. According to industry research, the leading cyber risks and cybersecurity trends for 2022 include a rise in malware and ransomware attacks, an increase in remote code execution and expansion of the attack surface, and a growing emphasis on addressing digital supply-chain risks [1]. To address these challenges and maintain a strong security posture, organizations should consider implementing cybersecurity mesh architecture and zero trust measures.

It is difficult to make specific predictions about cybersecurity risks in 2023 due to constant evolving landscape and new threats emerges all the time. However, there are a few trends that are likely to continue or become more prominent in the coming years coming years

Increased use of cloud services: As more and more organizations move their data and applications to the cloud, they will need to be concerned about the security of these services and ensure that they are properly configured and protected including GDPR. This trend is supported by a report from the cybersecurity firm McAfee, which found that in 2021, 83% of enterprise workloads will be in the cloud, up from 74% in 2018 [2].

Rise of AI and machine learning: The state of AI in 2022 had seen large investments, advances and increase in developer within the field. The field of AI and ML has drastically change the field of Robotics, nature language text, recommending systems [3]. These technologies can be used to improve cybersecurity, but they can also be exploited by attackers. A report from the cybersecurity firm Trend Micro predicts that AI and machine learning will be used more frequently in cybersecurity attacks in the coming years [2].

The Trend micro team also expects to see an increase in the use of AI in cyberattacks, such as the use of AI to bypass traditional security measures. Increasing interconnectivity of devices and systems will lead to an increase in the risk of supply chain attacks [4].

Increasing reliance on IoT devices: The proliferation of internet of things (IoT) devices in homes and businesses creates more potential entry points for attackers. These devices often have weak security and can be used to launch attacks on other parts of a network. One disadvantage of IOT to take in consideration is the possibility of vendor lock-in to a specific company. If the company should go down due to bankruptcy, cyberattack against IoT devices are more relevant. A report from the cybersecurity firm Symantec predicts that IoT-based attacks will become more common in the coming years [5].

Continued emphasis on data privacy: With the implementation of new data privacy regulations such as the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), organizations will need to be more diligent about protecting personal data and ensuring that they are in compliance with these regulations.

Ongoing threats from ransomware: Ransomware attacks, which involve encrypting a victim's data and demanding payment in exchange for the decryption key, will likely continue to be a major threat in the coming years. Ransomware groups may adopt different operational models in order to target more lucrative targets, and form new types of attacks, such as cloud-aware ransomware, may emerge as more businesses store critical data in the cloud [6].

Increase in social engineering: Social engineering is versatile, cheap, and available even to scammers with limited knowledge of technology. Scam artists are expected to continue to grow in 2023 and will adapt to new technologies being implemented by enterprises for hybrid workers. Trend micro predicts that social engineering threats, including business email compromise (BEC) scams, will increase and become more targeted towards global enterprises. Scams such as romance, finance and work schemes pretext are expected to be a focus in 2023. The use of deepfakes is also expected to be a bigger issue as underground forum users are planning to use them to fool financial institutions in 2023

[1]"Cyber Risk in 2022: a 360° View" report by Vulcan Cyber, https://vulcan.io/resources/cyber-risk-in-2022-a-360-view/

[2] https://www.mcafee.com/enterprise/en-us/assets/reports/rp-quarterly-threats-dec-2018.pdf

[3] https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2022-and-a-half-decade-in-review

4] https://www.trendmicro.com/en_us/research/22/l/forging-ahead-in-2023--insights-from-trend-micro-s-2023-security.html

[5] https://www.sentinelone.com/blog/sentinelones-cybersecurity-predictions-2023-whats-next/

[6] https://www.trendmicro.com/vinfo/us/security/research-and-analysis/predictions/2023