It’s that time of year again. Time for every one of us to reminisce on the past year and make resolutions for how we can do better in the year ahead–particularly in the area of cybersecurity.
Right up to the end of the year, massive cyber-attacks and high-profile data breaches made headlines in 2019. In the year ahead, organizations must prepare for the unknown, so they have the flexibility to endure unexpected and high impact security events. To take advantage of emerging trends in both technology and cyberspace, businesses need to manage risks in ways beyond those traditionally handled by the information security function, since innovative attacks will most certainly impact both business reputation and shareholder value.
Based on comprehensive assessments of the threat landscape, businesses focus on the following security topics in 2020:
- The Race for Technology Dominance
- Third Parties, Internet of Things (IoT) and the Cloud
- Cybercrime – Criminals, Nation States and the Insider
An overview for each of these areas can be found below:
The Race for Technology Dominance
Technology has changed the world in which we live. Old norms are changing, and the next industrial revolution will be entirely technology-driven and technology-dependent. In short, technology will enable innovative digital business models and society will be critically dependent on technology to function. Intellectual property will be targeted as the battle for dominance rages.
Evidence of fracturing geopolitical relationships started to emerge in 2018 demonstrated by the US and China trade war and the UK Brexit. In 2020, the US and China will increase restrictions and protectionist measures in pursuit of technology leadership leading to a heightened digital cold war in which data is the prize. This race to develop strategically important next-generation technology will drive an intense nation-state backed increase in espionage. The ensuing knee jerk reaction of a global retreat into protectionism, increased trade tariffs and embargos will dramatically reduce the opportunity to collaborate on the development of new technologies. The UK’s exclusion from the EU Galileo satellite system, as a result of the anticipated Brexit, is one example.
New regulations and international agreements will not be able to fully address the issues powered by advances in technology and their impact on society. Regulatory tit for tat battles will manifest across nation-states and, rather than encourage innovation, is likely to stifle and constrain new developments, pushing up costs and increasing the complexity of trade for multinational businesses.