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ConnectWise 2024 Predictions: Cyber Pain Points in 2024 and Beyond


Industry executives and experts share their predictions for 2024.  Read them in this 16th annual series exclusive.

Cyber Pain Points in 2024 and Beyond

By Patrick Beggs, CISO, ConnectWise

2023 marked a transformative journey for various industries and continued to highlight their complex challenges involving cybersecurity. Undoubtedly, cybersecurity is a rapidly evolving field with new, ever-changing threats appearing practically every day.  In a recent report from Apple, some 2.6 billion personal records have been exposed in data breaches over the past two years, and that number continues to grow.  Additionally, in the U.S., there were nearly 20% more breaches in the first nine months of 2023 than in any prior year, and data breaches at organizations are at an all-time high, up 20% in the first nine months of 2023 compared to all of last year.

Since cybersecurity threats have evolved significantly in recent years, with hackers and cybercriminals developing more sophisticated techniques to breach the security of even the most advanced systems, companies of all sizes and industries are becoming increasingly more vulnerable to cyberattacks. While cybersecurity capabilities and awareness are largely improving across organizations, the threat and sophistication of cyberattacks are not slowing down anytime soon. In fact, in 2024, organizations will see a rise in Ransomware-as-a-Service (RaaS), cybercriminals using artificial intelligence (AI) for cyberattacks, and malicious actors using deep fake technology to exploit entire systems.


The ransomware market is a key part of the complicated world of cyber extortion. This tactic involves significantly lowering the barrier to entry by enabling less technically savvy actors to access sophisticated and dangerous ransomware tools and infrastructure. When affiliates launch these attacks, people's data is often held hostage.

The rise of Ransomware-as-a-Service has fundamentally transformed the landscape of cybercrime, and cybercriminals no longer need to possess advanced coding skills; instead, they can simply rent ransomware tools and infrastructure from underground marketplaces, democratizing the capability to launch devastating attacks. This development has led to a surge in the frequency and scale of ransomware incidents, as individuals with varying levels of technical expertise can now participate, significantly expanding the pool of potential threat actors. Similarly to ransomware, AI will be another significant concern for cybersecurity.

Leveraging AI in Cyber Attacks

The proliferation of AI has provided cybercriminals with the tools needed to open new doors. Cybercriminals can now hack computer networks through emails or campaigns that trick recipients into sharing personal information or fabricating images or videos when, in reality, they're used to extort victims.

The integration of AI in cyber threats marks a paradigm shift in the capabilities of malicious actors. Cybercriminals are increasingly leveraging AI to enhance the sophistication and efficiency of their attacks. AI-powered tools can automate various stages of a cyber-attack, from reconnaissance to exploitation and evasion, enabling attackers to adapt and learn from their targets in real-time. Cyberattacks are also relying on other, more traditional tactics to trick victims.

Deep Fake Technology as a Threat

In an era where technology advances at unprecedented levels, organizations are facing an evolving threat: deepfakes, another extremely harmful and malicious tactic used by cybercriminals worldwide.

The emergence of deep fake technology poses a huge challenge in the realm of cyber threats, as malicious actors exploit its capabilities to deceive, manipulate, and spread disinformation. Cybercriminals may deploy deep fake techniques to create convincing impersonations of individuals, such as corporate executives or government officials, facilitating social engineering attacks and corporate espionage. These highly manipulative and designed-to-be-persuasive attacks are a growing threat to all organizations' cybersecurity.

Indisputably, cybersecurity has become a paramount concern for organizations worldwide in today's digital age. With the increasing number and severity of attacks, it's time for businesses to remain vigilant with their cybersecurity practices. The effects of an attack can be devastating, with organizations suffering from financial losses, damage to reputation, impacts on goods and services, or even legal implications. 

To better prevent and remain secure against evolving cyber threats, businesses in 2024 must adopt advanced security technologies that monitor and address the increase in Ransomware-as-a-Service (RaaS),  AI-based cyberattacks, and deep fake technology. Only then will they be able to take the lessons learned from 2023 and harness them to prepare and build truly cyber-resilient systems.



Patrick Beggs, Chief Information Security Officer, ConnectWise

Patrick Beggs 

Patrick is a cybersecurity executive focused on leading global cyber operations. Patrick has more than 20 years of operational duties in information security, spanning the commercial, federal civilian, defense, law enforcement, and intelligence communities. Most recently, Patrick served as Cognizant Technology's Global Cyber Operations Executive, where he led a team of more than 150 personnel operating across five countries. Prior to Cognizant, Patrick led cyber operations for AIG, Booz Allen Hamilton, Amazon Web Services, and Bank of America. In the public sector, Patrick served as the first Deputy Director/Director of Operations at the Department of Homeland Security's (DHS) National Cybersecurity and Communications Integration Center (NCCIC).

Patrick is a former Army Infantry Non-Commissioned Officer and holds a B.S. in Political Science from Radford University. He also holds a patent for his work developing a new method of leveraging AI models for improving network security.

Published Monday, January 08, 2024 7:33 AM by David Marshall
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