Can you imagine the loss that the world suffers every year as a result of the rise in cybercrime? According to Cybersecurity Ventures, the global annual cost of cybercrime is predicted to reach USD 9.5 trillion in 2024. We are living in an era where cyber threats evolve more rapidly than security updates. Today we need cyber security analyst more than a doctor or counselor. Furthermore, there are some predictions about the cyber cost taking an upward slop by 2025. Can you imagine till what range it can increase? We will be discussing everything in detail later in the blog.  

 

In this 21st century, someone can instantly get Neil with their lifetime savings. This is the emerging reality of our highly digitalized society. In recent years, there has been a rapid increase in digitalization, where every individual prefers remote work, cloud services, and online platforms like never before. This seismic shift in recent years has efficiently exposed a new opportunity for cybercriminals. Handling these threats requires innovative approaches and regulations. 

In this blog, we will be looking at emerging cybersecurity trends, technologies, and related concerns in depth.  

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Cybersecurity Trends   

Rise of the Autonomous Security Systems 

With the rapid increase in cybercrimes and the immediate need for security measures,  

The cybersecurity industry is deploying intelligent AI-based systems that can identify such threats. These tools can identify cyber-attacks without any need for human intervention and can alert authorities in advance.  

• These security systems contain advanced algorithms that use vast data repositories and detect any kind of potential breach on a real-time basis even before they can cause any damage. 

• These autonomous security systems possess the capability to detect threats with minimal response time.  

• With their autonomous capability, they can instantly apply defense mechanisms, eliminating unnecessary risks. 

• According to studies by Cybersecurity analyst, there is an estimated growth of $38 billion by 2026 in the adoption of AI-driven cybersecurity solutions.  

Privacy-Enhancing Computation 

Privacy-enhancing computation, well known as PEC is a remarkable approach used by organizations to handle sensitive data without compromising the confidentiality of its users.  

• With increased privacy concerns and users opting for organizations that have proper security measures, there was a need for such privacy measures to be adopted.

• PEC enables secure data sharing with the help of advanced cryptographic techniques. 

• Privacy-enhancing computation is a secure and compliant means that institutions use to bring valuable results while avoiding any kind of data breach. 

• Such an approach is used in every industry whether it be finance, healthcare, education, research, or governance. 

Dr. Ran Canetti, who is a renowned professor of computer science, and a cybersecurity expert states her words regarding PEC. According to her, Privacy-enhancing computation allows us to upload any kind of data with its high standard of privacy protection. 

Decentralized Identity Frameworks 

During centralization, individual identities were held by identity providers. However, with the onset of decentralized identity frameworks, individuals are no longer under the control of any services providers. They can control their data, without any privacy or data breach.    

• This eliminates the need for any authority to manage, validate, or control identities. 

• This system gives users the freedom to manage their data and maintain their digital identities.  

• There is reduced reliance on centralized providers, which in short leads to reduced risk of data breaches and identity theft. 

• There would be complete freedom for individuals on what kind and how much data they want to post, leading to transparency and control at the same time.  

World Economic Forum states its report on how Decentralized Identity Frameworks are reducing identity fraud. It states that such a system can reduce identity fraud by up to 70% along with the user-centric approach. There have been exceptional results seen with the usage of such an approach.  

Read also:- The Intersection of Blockchain and Cybersecurity: Opportunities and Challenges Blockchain Development Services.

Cybersecurity Technological Trends –  

Homomorphic Encryption 

A cryptographic technique that enables computations to be accomplished on encrypted data without it first being decrypted. This technology is a perfect substitution as the output produced is completely identical to the one done through unencrypted data. 

• This technique is made successful with the help of mathematical operations while maintaining the privacy and integrity of data.  

• Every industry is benefiting from this technology, for instance, hospitals can now securely analyze patient data for clinical trials without any fear of data leaks, and organizations are sharing sensitive data with every corner of the world. 

• Sharing data over the cloud has become secure, without the need to reveal the information.  

Microsoft’s election guard uses homomorphic encryption to bring accurate voting results. Through this implementation, every vote is encrypted, and voters have access to whether their vote is counted or not. This gives assurance to the voters about their rights and freedom of choice. While giving such excess, privacy is also maintained so that no other individual can see the data. Similarly, the INRIA research institute has also implemented this cyber security technology to securely analyze genomic data for medical research purposes. 

Secure Access Service Edge (SASE) 

 Secure Access Service Edge is a mixture of wide area network or WAN capabilities and cloud-native security functions. With this comprehensive combination, SASE offers an edge over the traditional methods. 

• Whether to optimize operations, managerial roles, security checks, or reduce complexity, it can do everything with increased efficiency. 

• It provides exceptional security to every location, and people working on a remote basis, so they can share sensitive resources easily. 

• It enables organizations to connect with their workforce and resources more effectively. 

As per the studies of Gartner, by 2025 at least 60% of enterprises will have explicit plans to adopt SASE.  

Conclusion 

Studies have predicted that cyber costs will reach $10.5 trillion by 2025. As we move forward to advancements and development, it is our responsibility to stay aware of every trend taking place. We must be aware of the advancements, technologies, and changes taking place to keep ourselves safe from any kind of cyber threat. What is cyber security? How to reach a cyber security analyst when in need? These are some of the most governing questions we must be bound with. In this article, we have tried to keep you enlightened with various security systems, privacy-enhancing computations, and decentralized identity frameworks that are currently trending in the cybersecurity sector. 

 

This world of cyber security has always been a roller coaster ride for every individual with a flood of threats and vulnerabilities. But you don’t need to worry about any threats or privacy concerns. Keep yourself away from being a victim of cyber threats and stay updated with QSS blogs. QSS Technosoft which is a top IT company extending its services in every domain, whether you want to build a brand-new mobile application, cloud-based applications, an E-commerce app, and more. Our services are completely protected and cyber secure, so you never need to fear about your sensitive data. So, let’s create a safe world where innovation rules over cyber threats.