The Information Security Forum (ISF), a resource for executives and board members on cybersecurity and risk management, has announced the organization’s outlook for the top global security threats that businesses will face in 2020.
Key threats for the coming year include:
- The Race for Technology Dominance
- Third Parties, Internet of Things (IoT) and the Cloud
In 2020, ISF notes that the pace and scale of change, particularly in terms of technology, will continue to accelerate substantially. “People will find themselves caught in a vortex of economic volatility and political uncertainty far beyond the levels experienced in the past. As for organizations, some will prosper, and many will struggle – the key separating component will be the degree to which organizations are able to meet the challenges,” says a press release.
“In today’s hyperconnected world, attack surfaces and interdependencies grow rapidly. As our dependence on technology increases, so does the need for sound risk management, assessment and mitigation increase in line with complexity. By understanding and evaluating how new technology will be rolled out, we can focus on the necessary controls to protect our data,” said Steve Durbin, Managing Director, ISF. “We all have a role to play, from individuals to nation-states, if we are to avoid creating or indeed perpetuating new technology development as a domain for confrontation.”
The top threats identified by the ISF for 2020 are not mutually exclusive and can combine to create even greater threat profiles. According to ISF, the most prevalent threats include:
The Race for Technology Dominance – Trade and Government
“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,” says ISF.
ISF predicts that the 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, ISF says. 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, ISF notes.