Securing the future: Cybersecurity
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According to the Cybersecurity and Infrastructure Security Agency (CISA), cyberattacks cost the US economy $242 billion annually. Some of the new security technologies that can be used to safeguard industrial networks and investigate the cybersecurity trends for 2024 include machine learning-powered malware detection, quantum-resistant encryption algorithms, spikes in ransomware attacks, ramping up IIoT device security, adoption of the Zero Trust framework, and the importance of security awareness and training. The NIST is on schedule to standardize four quantum-resistant encryption algorithms. Financially motivated ransomware attacks were up 95 percent in 2023, and a similar spike is expected in 2024. Industrial device security, especially with industrial switches and sensors, will come to the forefront. Zero Trust architecture will be adopted to reduce vulnerabilities in hybrid environments. Cybersecurity regulations are expected to impose stricter compliance requirements on private sector organizations. The Cybersecurity and Infrastructure Security Agency (CISA) is expected to propose reporting requirements for critical infrastructure entities for specific cybersecurity incidents and ransomware payments. Cybersecurity training and awareness programs will remain critical in 2024. By adopting zero-trust practices, improving device security, adhering to regulatory changes, and enhancing security awareness and communication amongst employees, organizations can bolster defenses and stay ahead of cyber threats in 2024.



https://www.ept.ca/features/securing-the-future-cybersecurity/