Cybersecurity used to be just a buzzword — but now it’s an absolute necessity. As we continue to integrate technology into our everyday lives, the threats only continue to grow larger, and our defensive technologies must evolve. However, this constant innovation can make cybersecurity hard to keep up with, so we’ve compiled a list of things we think you need to know about cybersecurity.
Cybercrime is costing businesses millions
The cost of cybercrime for businesses is escalating. IT Governance reports that the average cost of cybercrime in the US is at $27.4 million per company — twice the costs reported by firms from other countries, and 29% more than they were in 2018. According to the report, malware and web-based attacks were the most costly, at $2.6 million and $2.3 million, respectively. Following this, insider attacks jumped by 15% from 2017, costing businesses today $1.6 million on average.
Multi-factor authentication will become standard for online transactions
It’s not the perfect solution, but as credit card fraud and phishing attacks run rampant, multi-factor authentication is getting more and more popular with online vendors. Leaving just one password, leaves individuals at risk, so two or more authentication methods add additional security against hackers. This is especially beneficial as attackers are always finding new ways to get information, such as lurking in emails and gathering information, or stalking individuals to get more personal data that can convince you or your loved ones to wire money to a false account.
Cybersecurity awareness is rising
Human error is often the cause of cyberattacks, and business owners are taking notice — 45% of American organizations now provide employees with formal and mandatory security awareness training. However, more companies should be making an effort, as leaders should ensure that each member of their respective organization is aware of some form of cybersecurity. The cybersecurity guide by Marcus emphasizes the importance of simply knowing the basics, such as increasing awareness about phishing, strengthening passwords, and locking devices — all of which will always remain important. But as cybercrimes get more intense, we’ll see a rise in the number of businesses providing better and more thorough cybersecurity training to their employees.
Artificial Intelligence is reinventing cybersecurity
Artificial Intelligence (AI) is reinventing cybersecurity as a whole. In a survey of over 850 senior IT executives, Capgemini Research Institute found that two thirds of organizations report needing AI to respond to critical cybersecurity threats. AI works around the clock, and can respond to attacks that would normally take hours, days, or even months for humans to detect — and by then, the damage has already been done. Although the technology works for both cybercriminals and defenders alike, AI is definitely helping cybersecurity professionals develop their techniques and respond to attacks faster than ever before.
Demand for cybersecurity professionals is growing
Between 2017 and 2018, CyberSeek revealed that private and public sector employers posted an estimated 313,735 job openings for cybersecurity workers. This is on top of the 715,000+ cybersecurity employees currently working across the country. As cybercrimes (and their cost) increase, businesses are looking for professional and certified IT teams that can protect their valuable data — and are offering high salaries for it, too. The average salary for cybersecurity positions, range from $75,000 for cybersecurity specialists and technicians to $129,000 for cybersecurity architects, all of whom must have certifications to match their jobs. While there are many certifications to look for, the Certified Information Systems Security Professional (CISSP) is one of the most esteemed IT security certifications, as it is the de-facto certification required for information and cyber security job candidates.
Many people pursue the CompTIA Security+ certification before the CISSP because people can commonly study for and pass the Security+ exam in 30 days or less. Additionally, it is required for employment in many organizations.
As cybercrime proliferates, it’s important to get professionals who are certified and knowledgeable on how to handle and innovate the defensive process. Fortunately, advancements in cybersecurity technology, such as AI and multi-factor authentication, can be utilized to their full potential to avoid attacks and stay defensive. Moreover, ensuring cybersecurity awareness is also vital to a business and to any individual, as it can mean the difference between disaster and security.