In 2023, the digital Wild West got even wilder. Major events like the cyberattack on MGM Resorts caused disruptions and a $100 million hit to its third-quarter results. The City of Oakland ransomware attack also led to leaked data stolen from the city. Additionally, a vulnerability in MOVEit impacted thousands of organizations.
Aside from these attacks and breaches, new trends have also impacted the industry. Generative AI has played a significant role in shaping conversations across the cybersecurity industry.
Looking ahead to 2024, cybersecurity predictions include a potential “trough of disillusionment” for generative AI, a shift towards private LLMs over public ones, AI supercharging automation in security operations, an overhaul of third-party risk assessments, and a positive outlook for the tech industry.
As we navigate through 2024, it’s crucial for organizations to assess their tools and strategies to combat potential attacks and unforeseen shifts in the economy. For more insights, check out the Forbes Technology Council, an exclusive community for top CIOs, CTOs, and technology executives.