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

Cross-Border Compliance, Generative AI, Microsoft 365 Threats and More

By Ofer Klein, Co-founder and CEO, and Gal Nakash, Co-founder and Chief Product Officer at Reco.ai

2023 proved to be another banner year with record-breaking cybersecurity threats and breaches. The cybersecurity world tried to stay a step ahead of the bad actors and their malicious tactics with constantly evolving, innovative new technologies. As we head into 2024, we believe cross-border compliance, the need for safety standards around new Generative AI tools and continued Microsoft 365 and Okta Cyber threats will be key themes. We also believe security keys will replace Multi-Factor Authentication. Let's drill down:

Cross-Border Compliance - with more diverse and complex compliance regulations that security teams must comply with, we'll see organizations looking for ways to reduce costs, ensure compliance, and meet local regulations.

Adoption of Generative AI Tools - the incredibly fast adoption of generative AI tools will lead to new data risks, such as privacy violations, fake AI tools, phishing, etc. Organizations will need to put together AI safety standards to keep their customer and employee data safe. Having a SaaS security solution that can identify connected generative AI tools will be critical.

Microsoft 365 and Okta Cyber Threats - Microsoft365 and Okta will have more cyber threats because they are both foundational to making SaaS programs run, potentially becoming the next SolarWinds. Despite growing security threats, Okta and Microsoft 365 will have a huge uptick in adoption. The security built into Okta and Microsoft E5 isn't enough to keep the application and organizational data stored in it secure, prompting organizations to look for dedicated SaaS security solutions.

Security Keys Will Replace Multi-Factor Authentication (MFA) - ​​MFA is a common method of adding a second layer of security onto SaaS applications (in addition to passwords). But in 2024, we predict that MFA won't be the only security boundary and SaaS apps will use security keys for verification. Security keys are physical devices that use a unique PIN to sign in.

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ABOUT THE AUTHOR

Ofer Klein is Co-founder and CEO of Reco.ai, a leading identity-first SaaS security solution provider. Prior to founding Reco, he was SVP of Market Development at Ordergroove and before that, founder and CEO of kwik.me.

Gal Nakash is Co-founder and Chief Product Officer at Reco.ai. Prior to Reco, he spent almost a decade holding several security technology positions with the Office of the Prime Minister of Israel.