Fast track digitisation resulted increasing cyber crime

Adoption of digital technologies is at an all-time high, and shows no signs of slowing down. This makes it all the more critical for businesses to take a hard relook at their models and ensure that they are in line with these changing market dynamics. As the world of technology continues to evolve, so do the security threats that come with it.

 
Digital channels were not used just for shopping; consumers have started to learn, work, shop, entertain themselves, connect with others via video chats and even improve their well-being using online fitness and wellness apps. Even traditional in-person business services are shifting online, including medical consultations, education, legal and accountancy services. 

With both customers and employees more likely to work or shop from home, driven by safety reasons, the pressure on digital security continues to rise. India stands out strongly amidst this wave of digital transformation – adopting new technologies at a staggering pace that far outstrips other developing nations. Cybersecurity solutions are becoming increasingly sophisticated, and 2023 will bring even more advanced solutions. Artificial intelligence (AI) and machine learning (ML) will be used to detect and prevent cyberattacks more effectively. AI and ML have become critical technologies in information security, as they are able to quickly analyze millions of events and identify many different types of threats such as malware, zero-day vulnerabilities, phishing attack etc.

We have seen a steady increase in automated cyberattacks over the last few years and this trend is expected to continue into 2023. Automated attacks are easier for malicious actors to launch since they require minimal effort and resources. As such, we can expect to see an increase in ransomware attacks, phishing scams, denial-of-service (DoS) attacks, and other types of automated attacks in 2023. Automation will also be used to speed up security processes and reduce the workload of IT teams.

GOING FORWARD, OpenAI’s ChatGPT is trending all over the world and it will be interesting to witness its potential impact (both positive and negative). Threats from AI are not a new problem, but it's just that now ChatGPT is showing distinct examples that look scary. 

FINALLY, organizations should also keep their focus on self-educating their users about risks associated with their online activities which will help them to mitigate the risk to a great extent.

Dr. Deepak Kumar Sahu, President & CEO, VARINDIA