2018 has brought a whirlwind of changes and with 2019 around the corner, it’s time to discuss the trends and predictions for next year. Knowing what’s out there will help you better understand what your business's risk exposures are and how you can better protect your business.
Making predictions is often a shot in the dark, but it’s easier to tell what can happen when looking at what has happened in the past year. The past year has brought over 2,216 confirmed data breaches and over 53,000 incidents, according to Verizon’s 2018 Data Breach Investigations Report. With the rise of technology hardly reaching its pinnacle in the coming years, it only makes sense to continue to keep an eye on future trends and what they may hold for society.
While we can’t predict exactly how many breaches will successfully play out, we can see where those trends might lead us to. This is cybersecurity in 2019, with trends and predictions via Symantec.
For many people, AI is still a futuristic and sometimes scary concept. The last thing anyone wants is for an entire computer system to willingly turn on them. AI technology is fragile and at this point, can be easily exploited. AI systems aren’t going to be the only ones targeted. AI techniques will also be used to further the gains of potential hackers. AI-powered attack tools exist out there; it’s imperative to be completely aware of them.
Sure, more people are going to use AI in a bad way. But what about the good? AI can also be used to effectively find, protect and defend from data breaches. An AI-system is strong enough to launch an assault on an invader. We soon might find AI embedded in our phones; AI can serve as a defensive warning system for users everywhere.
The infrastructure deployments of 5G networks began earlier this year, with 2019 continuing to get the ball rolling. 5G is supposed to make your phone service that much faster, comparable to being on WiFi. But the amount of data that a 5G network can carry is also worrisome, leaving big vulnerabilities that need to be addressed as soon as possible. In short, everyone’s cloud data will be at risk for hackers.
Attackers will be prone to hitting home routers and other IoT hubs where malware can be inserted. This in turn can leak your private information to hackers. This is why storing your data and passwords on a third-party is always a risky business.
Expect to see the weaponization of IoT devices and software supply train attacks. On top of that, the insurmountable concern with this industry will ultimately lead to more governmental rules and regulations in an attempt to combat this phenomenon.
Without cyber insurance, your business is completely vulnerable. As technology continues to grow more advanced, it is important that you re-examine your defensive measures and ensure that they will be up to the task of protecting you against the new landscape of threats.
At Axis Insurance Services, we aim to help our customers identify their exposures and protect themselves. Founded in 1999, we offer insurance programs to a wide variety of professionals and industries including attorneys, real estate, healthcare, architects, and more, and also have a wholesale division. We pride ourselves on offering flexible insurance coverage tailored specifically to each customer’s needs. To learn more about our solutions, contact us at (201) 847-9175 to speak with one of our professionals.