Navigating cyber threats bl-premium-article-image

Deepa SeshadriDavid George Updated - October 29, 2024 at 08:17 PM.

Need to integrate tech, people and processes

Prioritising cyber resilience | Photo Credit: Mohammed Haneefa Nizamudeen

Rapid technological advancements, coupled with a complex and evolving threat landscape, are fundamentally reshaping how organisations approach security.

The adoption of Software as a Service (SaaS) platforms, multi-tenant models, expanding third-party ecosystems, custom application development, and internet-facing customer interactions, hybrid work culture have all significantly broadened attack surfaces. According to Deloitte’s latest Global Future of Cyber Report, 40 per cent of respondents reported experiencing six to 10 cybersecurity breaches in the past year, highlighting a troubling trend that demands a reevaluation of security strategies.

AI use

As cyber threats evolve, organisations are integrating Artificial Intelligence (AI) and machine learning into security operations. They use a range of security tools, including Identity and Access Management (IAM) systems, Security Information and Event Management (SIEM) tools, and cloud security solutions, which generate vast amounts of data. However, correlating information from these disparate sources to derive actionable insights can be challenging.

AI can help organisations analyse large volumes of data in real time, improving threat detection and response capabilities. By identifying patterns indicative of potential breaches, AI speeds up remediation and reduces reliance on manual monitoring. However, it also creates risks; cybercriminals are leveraging these technologies for more sophisticated attacks, such as automated phishing schemes and deepfakes.

By automating routine security tasks, organisations can free up valuable resources, allowing security teams to concentrate on more strategic initiatives. However, organisations must strike a balance between automation and human expertise. Human expertise is still essential for interpreting data and making nuanced decisions that automated systems may overlook.

Cyber Resilience

Building cyber resilience is critical in today’s volatile environment. Organisations should use a combination of qualitative and quantitative techniques like conducting regular risk assessments to identify vulnerabilities and develop incident response plans tailored to their specific contexts.

Investing in employee training and awareness is also vital as many cyberattacks exploit human factors, such as phishing.

As the regulatory landscape evolves, organisations must ensure compliance. Compliance is not just about avoiding penalties; it plays a crucial role in building trust with customers and stakeholders.

Amid a changing geopolitical climate, many organisations are adopting modular application architectures and decoupling data to enhance their security posture. With regulators emphasising cybersecurity, prioritising compliance can offer a competitive edge. Collaboration between the public and private sectors is crucial. The government should work closely with businesses to share threat intelligence and develop best practices to boost resilience.

The future of cybersecurity will be shaped by technological advancements and evolving threats. Organisations must continually adapt their strategies, leveraging emerging technologies while remaining vigilant against new attack vectors. Thriving in this environment requires understanding emerging trends and taking decisive action to deliver measurable business impact.

Ultimately, a holistic approach to cybersecurity — integrating technology, people, and processes — will be essential for navigating the complexities of the digital landscape. By fostering a culture of security, investing in innovative solutions, and prioritising resilience, organisations can protect their assets and thrive in an increasingly interconnected world.

Seshadri is Partner, Leader – Cyber, and George is Director, Deloitte India

Published on October 29, 2024 14:47

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