One significant effect of the Covid-19 on global enterprise strategy was the spotlight on the key role of cybersecurity as a business enabler, putting cybersecurity leaders in direct involvement with business strategy and innovation.
These changes have highlighted the importance of enterprise agility and more importantly resilience, over meticulous planning as a feature required to mitigate the changing landscape.
The dynamic world of cybersecurity demands this, especially with constantly evolving threats and data being the new currency. In 2021, organisations will need to focus on the constant development and transformation of their cybersecurity processes to be able to handle the unexpected.
The rest of this article will focus on some cybersecurity trends likely to emerge over the rest of 2021.
A market evolution
The cybersecurity landscape which used to be a mix of specialised vendors is now evolving into a landscape featuring globalisation of cybersecurity services.
As cyber-attacks increase and come in varying forms, clients increasingly demand integration and end-to-end protection. There is a preference for specialists who have sector-specific expertise and technical expertise, able to create comprehensive security strategies.
They want more bang for their buck. Rather than purchase different pieces of software, clients want to invest money in solutions that complement each other seamlessly. Increasingly, clients will seek out global solutions that offer end-to-end protection across regions.
The new face of the CISO
Although CISO was traditionally viewed as the department of no’ and an infamous hindrance to change, the COVID-19 has hastened the evolution of cybersecurity away from being a backroom function towards a boardroom-focused role.
Now, the cybersecurity department is seen as an enabler rather than a roadblock to innovation, influencing the structure of the business in the same way as other C-level executives.
The consumerism of security
Now, most people own and use IoT devices, with each person owning up to as many as three devices.
Simultaneously, social consumerism is rising, with more brands choosing to focus on building direct-to-consumer relationships. These trends will offer significant opportunities in the form of connected devices, digital storefronts, and engagement tools.
On the other hand, this might lead to an increased risk of data breaches and even loss if the right practices and technologies are not implemented and adhered to. In the future, product and platform security are expected to take the lead stage as organisations realise the value that customers place in trust, privacy, and security.
Intelligent, real-time threat detection and response
As IoT devices become more prevalent and as more security threats swarm cyberspace, breach detection and response time will have to become quicker and more instantaneous.
The importance of speed in the detection and remediation of IoT hacks is demonstrated in the instance of a compromised self-driving car, while on the road – the results could be detrimental to the safety of road users.
At the heart of speedy detection and neutralisation of security threats is the potential for automation and artificial intelligence (AI), but less than 18% of organizations currently use AI to respond to cyber threats. However, AI is at a relatively nascent stage when it comes to threat response but could still reduce the time required to create a virtual patch for a detected threat or develop solutions for evolving technologies.
To enable data collection and the issuance of alerts from various sources, more organisations should use AI for security orchestration, automation, and response. (SOAR) technologies).
Leveraging human creativity and machine precision, SOAR allows incident analysis and triage to be performed. This in turn drives response activities according to a standard workflow through connections to different data sources and platforms.
COVID-19 has illuminated the importance of cybersecurity as a business enabler. With the right technologies and roadmaps to improve security, organisations can progress confidently into the new year knowing that they have the resilience and agility to succeed.