The 5 data security trends you need to be aware of.

The O Team • 9 April 2024

With cyber threats evolving at an alarming pace, staying ahead of the curve is crucial. It’s a must for safeguarding sensitive information. Data security threats are becoming more sophisticated and prevalent. The landscape must change to keep up. In 2024, we can expect exciting developments alongside persistent challenges.

Over 70% of business professionals say their data privacy efforts are worth it . And that their business receives “significant” or “very significant” benefits from those efforts.

Staying informed about these trends is crucial. This is true whether you’re an individual or a business safeguarding valuable data.

Here are some key areas to watch:

1. The Rise of the Machines: AI and Machine Learning in Security

Artificial intelligence (AI) and machine learning (ML) are no longer futuristic concepts. They are actively shaping the cybersecurity landscape. This year, we'll likely see a further rise in their application:

Enhanced Threat Detection: AI and ML algorithms excel at analysing massive datasets. This enables them to identify patterns and anomalies that might escape human notice. This translates to a quicker detection of and reaction to potential cyber threats.
Predictive Analytics: AI can predict potential vulnerabilities and suggest proactive measures. It does this by analysing past cyberattacks and security incidents.
Automated Response: AI can go beyond detection and analysis. Professionals can program it to automatically isolate compromised systems as well as block malicious activity and trigger incident response procedures. This saves valuable time and reduces the potential impact of attacks.

AI and ML offer significant benefits. But it's important to remember they are tools, not magic solutions. Deploying them effectively requires skilled professionals. Experts who can interpret the data and make informed decisions.

2. Battling the Ever-Evolving Threat: Ransomware

Ransomware is malicious software that encrypts data and demands a ransom for decryption. It has been a persistent threat for years. Unfortunately, it's not going anywhere in 2024. Hackers are constantly refining their tactics, targeting individuals and businesses alike. Here's what to expect:

More Targetted Attacks: Hackers will likely focus on meticulously selecting high-value targets. Such as critical infrastructure or businesses with sensitive data. They do this to maximise their impact and potential payout.
Ransomware-as-a-Service (RaaS): This enables those with limited technical expertise to rent ransomware tools. This makes it easier for a wider range of actors to launch attacks.
Double Extortion: Besides encrypting data, attackers might steal it beforehand. They then may threaten to leak it publicly if the ransom isn't paid, adding pressure on victims.

3. Shifting Strategies: Earlier Data Governance and Security Action

Traditionally, companies have deployed data security measures later in the data lifecycle. For example, after data has been stored or analysed. But a new approach towards earlier action is gaining traction in 2024. This means:

Embedding Security Early On: Organisations are no longer waiting until the end. Instead, they will integrate data controls and measures at the start of the data journey. This could involve setting data classification levels as well as putting in place access restrictions. They will also be defining data retention policies early in the process.
Cloud-Centric Security: More organisations are moving towards cloud storage and processing. As they do this, security solutions will be closely integrated with cloud platforms. This ensures consistent security throughout the entire data lifecycle.
Compliance Focus: Data privacy regulations like GDPR are becoming increasingly stringent. As this happens, companies will need to focus on data governance to ensure compliance.

4. Building a Fortress: Zero Trust Security and Multi-Factor Authentication

We're in a world where traditional perimeter defences are constantly breached. This is why the "Zero Trust" approach is gaining prominence. This security model assumes that no user or device is inherently trustworthy. Users and programs need access verification for every interaction. Here's how it works:

Continuous Verification: Every access request will be rigorously scrutinised. This is regardless of its origin (inside or outside the network). Systems base verification on factors like user identity, device, location, and requested resources.
Least Privilege Access: Companies grant users the lowest access level needed to perform their tasks. This minimises the potential damage if hackers compromise their credentials
Multi-Factor Authentication (MFA): MFA adds an important extra layer of security. It requires users to provide extra factors beyond their password.

5. When Things Get Personal: Biometric Data Protection

Biometrics include facial recognition, fingerprints, and voice patterns. They are becoming an increasingly popular form of authentication. But this also raises concerns about the potential for misuse and privacy violations:

Secure Storage Is Key: Companies need to store and secure biometric data. This is ideally in encrypted form to prevent unauthorised access or breaches.
Strict Regulation: Expect governments to install stricter regulations. These will be around the collection, use, and retention of biometric data. Organisations will need to ensure they adhere to evolving standards. They should also focus on transparency and user consent.