The Critical Cybersecurity Developments in 2019

The Critical Cybersecurity Developments in 2019

Capital Markets CIO Outlook | Wednesday, May 01, 2019

The rapid advances in the internet of things (IoT) and artificial intelligence (AI) have fueled the development of cybersecurity. Cyberattacks have gained momentum over the years, with hackers targeting political leaders and well-known personalities. Hacking has evolved into an industry all in itself, engaging in espionage, spying, and blackmailing.

Organizations and companies are taking steps to counter the menace of cyberattacks, dedicating entire departments to shield their systems and employees from malware, viruses, social engineering, and concentrated cyber warfare. As hackers become more advanced in their methods, companies have no choice but to reinforce their security measures.

Cybersecurity experts have predicted significant breaches and cyberattacks in the year 2019. It will likely result in mayhem and chaos, especially for organizations underequipped to meet the threat. A large scale cyberattack has the potential to disrupt the public infrastructure of every country, especially those without cyber defense capabilities. It could lead to countrywide breakdowns of power grids, transport systems, financial organizations, military, and government systems. The year 2019 is likely to witness an increase in targeted cyberattacks, catching many organizations and governments off guard. However, many companies are paying heed to the predictions and taking proactive steps to mitigate the damage in the event of a cyberattack.

Data privacy and protection is also turning out to be a significant security concern, especially when consumers are required to hand over personal information to government institutions and other organizations for the sake of convenience. Many of the applications on Android and iOS phones collect and sell permissions to third parties, and this includes location tracking, audio recording, call logging, and message logging.

The chatbot is a concerning development when it comes to cybersecurity. It is designed to make users divulge sensitive information, download malicious files, and redirect users to dubious websites. The evolution of AI has made chatbots an attractive solution for the effective management of customer and technical services. This technology is being leveraged by hackers to engineer and manipulate unknowing users socially. It is said to worsen over the next few years, with cyber-attackers creating sophisticated chatbots to trick even the cautious tech-savvy users. To effectively counter the cyber threats, organizations and individuals will need to go from being reactive to proactive, preparing for cyber warfare without waiting for hackers to make the first move.

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