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BackBox 2023 Predictions: Looking Ahead - Cybersecurity Predictions for 2023

vmblog-predictions-2023 

Industry executives and experts share their predictions for 2023.  Read them in this 15th annual VMblog.com series exclusive.

Looking Ahead: Cybersecurity Predictions for 2023

By Josh Stephens, Chief Strategy Officer at BackBox

As 2022 comes to an end, cyber experts are beginning to predict trends that organizations should prepare for and be aware of as we look ahead to 2023. 

This past year was one that continued to be plagued by cyberattacks, and data breaches rose to an alarming level following the pandemic, with nearly 60% of internet users reporting an elevated risk of a data breach. Network security automation is more important now than ever-- organizations are looking for a more proactive, operationalized approach to network security, in addition to investing in threat detection and response.

In its simplest terms, network security automation is a portion of network automation that is focused on consistently enhancing network security posture. When executed properly, network security automation creates an environment where the network should always be more secure at the end of the day than it was that morning. Network security automation enables the entire IT ecosystem to become more resilient, reliable, and agile when faced with changing conditions. When organizations build an automation system that is continuously improving the security posture through threat intel data, the IT ecosystem is conditioned to become more and more robust.

What does the new year have in store for network operations and cyber security teams? I've pulled together several predictions for what we should be prepared for in 2023:

SMBs will continue to be a primary target for threat actors

Small and medium-sized businesses (SMBs) often don't have proper cybersecurity hygiene due to the lack of resources and available cybersecurity expertise. SMBs often hire MSPs to help with cybersecurity, but even these organizations are understaffed, and there's a learning curve as they ramp up. Furthermore, many products, like IAM (Identity and Access Management) platforms, aren't designed specifically for MSPs and their unique challenges. Because of this, threat actors will place more emphasis on SMBs in 2023 as quick and easy targets to conduct cyberattacks through ransomware and phishing. According to Accenture's 2021 Cost of Cybercrime Study, 43% of cyber attacks are aimed at small businesses, but only 14% are prepared to defend themselves. 

Cybercriminals will successfully attack a major player in the agriculture industry.

As threat actors seek to cause disruption to critical aspects of the U.S. supply chain, cybercriminals will target food production and processing organizations to launch major attacks. It's often forgotten how many operational technology (OT) assets exist in elements of the food supply chain, such as feed yards and livestock auctions, making them an easy target for threat actors looking to cause the most damage possible. In April, the FBI issued a warning about potential ransomware attacks targeting agricultural cooperatives during critical planting and harvest seasons with the aim of disrupting seed and fertilizer supplies.

Vendor consolidation of tools and services will accelerate as companies seek to streamline cybersecurity protection.

We've seen a lot of managed security service providers (MSSPs) and security vendors consolidate over the years, but as customers seek a go-to source for all their cybersecurity needs, tools and services, vendors will ramp up consolidation in 2023. This will allow vendors to provide a well-rounded security offering for their customers and act as trusted partners to the organizations that they're responsible for protecting. According to a September report from Gartner, 75% of organizations are pursuing security vendor consolidation to improve risk posture.

Although what lies ahead in the cyber world can be daunting and worrisome, given the knowledge and budget, there are plenty of ways for organizations to protect themselves and prepare for what may be in 2023. As always, it is essential that organizations' cybersecurity postures are top-of-mind as we head into the new year.

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ABOUT THE AUTHOR

Josh Stephens, Chief Strategy Officer at BackBox

Josh-Stephens 

Josh has been in the technology sector for 30 years and have been lucky to have helped lead some very successful companies through hypergrowth, IPOs, and other meaningful exits. He is deeply passionate about helping the companies that he is involved with to maximize their potential and about helping the people that he works with to achieve their vision of success. His prowess is focused on executive leadership, product strategy, engineering, cybersecurity, capital raising, and M&A.

Published Monday, November 21, 2022 7:30 AM by David Marshall
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