Artificial Intelligence remained the core of the development of both defence and threat capabilities in 2023. The use of emerging technologies by threat actors to increase the speed and sophistication of attacks rather than the development of new ones is emerging as one of the major trends and concerns through the year 2023.

The rise in cyber inequity and emerging technologies such as Artificial Intelligence pose significant challenges to the global cybersecurity landscape this coming year, according to a study by the World Economic Forum.

Lack of cyber resilience

The increasingly plain divide between cyber-resilient organisations and those trying has emerged as a critical risk for 2024. Less than 30% of organisations maintain minimum viable cyber resilience compared to last year. Furthermore, large organisations exhibited significant gains in cyber resilience, while small and medium ones showed notable declines.

Rise of cyber inequity

The Global Cybersecurity Outlook 2024 report of WEF said, “There has been a sharp increase in cyber inequity globally, with 90 per cent of executives warning that urgent action is needed to address it”. Moreover, the report mentioned that one of the greatest threats of technologies like AI and generative AI is on elections that will be held in more than 45 countries, making up over 50% of the world’s GDP. The report added that advances in AI posed greater risks than deepfakes or misinformation.

The report said, “With the proliferation of new technologies such as generative AI and their use by cyber adversaries becoming more widespread, safeguarding the integrity and fairness of the electoral process becomes paramount.” Additionally, cyber skills and talent shortages will continue to increase significantly. As per the report, only 15% of all organisations are optimistic about the notable enhancements in cyber skills and education in the coming two years.

The risks and threats

As per the report, experts are not very optimistic about the excellent impact of GenAI in cybersecurity, at least in the immediate term. Less than one in 10 respondents believed that in the next two years, GenAI would give an edge to defenders over attackers. Also, nearly half of the experts surveyed agreed that GenAI would significantly impact cybersecurity in the next two years.

Jeremy Jurgens, managing director of WEF, Switzerland, said, “As the cyber realm evolves in response to emerging technologies and shifting geopolitical and economic trends, so do the challenges that threaten our digital world.” “We urgently need coordinated action by key public-private stakeholders to collectively address these complex, ever-evolving threats and build a secure digital future for all,” he added.

The report also mentioned that external partners are the greatest asset and biggest hindrance to cybersecurity. Almost 41% of organisations surveyed opined that they encountered a material incident caused by a third party in the last 12 months. The report is based on surveys carried out between June and November 2023, mainly in collaboration with Accenture. 

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