According to a survey, the number of businesses losing at least one million dollars to a cyberattack incident is increasing every year. This is because of new techniques and intricate approaches used by hackers. Advancements in technology have provided malicious actors with new tools and strategies.
It is estimated that security breaches, data stealing, and identity theft incidents will become more common in 2024. Various digital innovations will aid hackers in devising more delicate and sophisticated attacks.
If you own a business, you must be careful regarding these dangers. Keep reading, as this article will explain the top cyber threats for businesses in 2024.
7 Key Cyber Threats Looming in 2024
In the past, there were fewer concerns about cyberattacks. However, with advancements in technology and science, cyber threats have become common. Businesses have to be more vigilant in the upcoming year because of the following cyber threats:
1. Automotive Hacking
The introduction of computerized systems in vehicles has been a transformative step in the automotive industry. It gave birth to a new type of advanced vehicle. It was expected to be protected from digital attacks. However, somehow, cybercriminals have found a way to get into and control the software and hardware used in these automobiles.
According to experts, the incidents of automotive hacking will become even more common in 2024. This can lead to potential security breaches, data theft, and phone hacking. You can get cyber security services in UAE to reduce the risk of automotive hacking and secure your sensitive data from these attacks.
2. Manipulation of Artificial Intelligence
Artificial intelligence has become a household name today. Everyone is using AI at one level or another. Computer learning, reasoning, and acting in a humanized manner are something to cherish. However, it can also be a potential threat in terms of cybersecurity.
In 2024, manipulating artificial intelligence using the right techniques and tools will be a feasible task. AI systems use particular data sets for training and acting accordingly. By modifying this data, anyone can use AI for manipulative purposes. Hackers are developing new tools and devising new strategies to exploit artificial intelligence for sinister activities.
3. Cloud Attacks
Cloud computing has gained a lot of popularity among businesses. The level of security, accessibility, connectivity, and feasibility provided by this system is exceptional. With many organizations and companies turning their heads towards this system, hackers have become more active.
Cloud attacks are set to damage unprepared businesses in 2024. Using complex techniques and the right equipment, cybercriminals will be able to access sensitive data. This would result in sensitive data theft, loss of integrity, and vulnerabilities in the security system.
4. Increase in Data Breaches
The year 2023 is ending with numerous infamous data breach incidents. These Incidents have caused thousands of organizations multi-billion-dollar losses, and minor to major bugs in the systems triggered these attacks. Unfortunately, such breaches are set to increase in the coming year.
That is why corporations and companies must be prepared for these attacks. It is vital to strengthen your security system beforehand. You need to start taking strict measures by availing yourself of the services of reliable cybersecurity providers. Otherwise, you might end up losing a fortune to these data breaches.
5. IoT Cyberattacks
The Internet of Things, or IoT, is the latest technology. It comprises intricate systems of multiple devices interconnected to support communication and exchange of data. Vulnerabilities in these devices and the software they use can lead to cyberattacks. Such IoT attacks can exploit:
· Industrial control systems
· Medical devices
· Smart home appliances
· And other tools connected to the internet
2024 will be marked by the integration of IoT with the 5G technology. This integration can cause more problems. This is because of the immaturity of 5G technology, which will be more vulnerable to cyberattacks.
6. Targeted Ransomware
The word ransomware says it all. This is a type of malicious, infected software built specifically for sinister reasons. Attackers who use ransomware try to block someone from using their own devices or systems. Upon successful attack, they demand heavy ransom for undoing the block. People with sensitive data locked up in their systems are compelled to pay them.
It is estimated that malicious actors will use this ransomware more commonly to target particular organizations. Therefore, businesses must take steps to protect their digital and networking systems from such ransomware.
7. Deepfake Cyberattacks
In the era of misinformation, Deepfake is playing a significant role in facilitating criminals. Altering a digitalized video to make it seem realistic has already cost many people an irreparable loss. The integration of Deepfake with artificial intelligence is a potential threat to businesses and individuals alike. This technology is becoming more and more sophisticated.
It has already become difficult to differentiate right from wrong. If you own a well-established business, you must spread awareness regarding Deepfake among your subordinates and partners. You can also get cyber security services UAE to counter such cyberattacks and protect your organization from potential losses.
Are You Well-Equipped Against These Cyberattacks?
Cyberattacks will become more common in 2024. Cybercriminals will try to damage your business and brand integrity in various forms. Contact a reliable cybersecurity provider to reduce the risk of these attacks in the coming year.