Navigating the unknown: An integrated approach to cybersecurity in 2024
Kin + Carta’s survey of over 800 US and UK executives—2024 Leadership Priorities in Tech—revealed that 94% report tech anxiety among senior leadership in their organizations. Cybersecurity is the most common source of anxiety for leaders, and with global cyberattacks rising by 7% in Q1 2023, concerns over cybersecurity are unlikely to abate.
A comprehensive cybersecurity strategy is becoming increasingly important as businesses rely more and more on complex technology and data solutions. The sheer speed of technological change is opening the door to new and fast-evolving threats as enterprises face one of the toughest challenges to overcome—the unknown.
A new study predicts that worldwide spending on cybersecurity will reach $335.8 billion by 2023. To keep up with their competitors and progressively more sophisticated attacks, companies must invest—but how can they ensure they are spending their money in ways that unlock real value? Companies must be aware of a changing security landscape and partner with cybersecurity experts to address the increasing number of online threats.
Here we explore the number one source of tech anxiety, and some of the integrated security measures that leaders should be aware of in 2024.
The number one tech anxiety: fear of the unknown
The biggest and most concerning challenge facing leaders right now is the unknown. Executives in our 2024 Leadership Priorities in Tech told us they ranked cyber security as such a significant source of anxiety because of the speed of evolution of technology and a lack of access to trusted data.
New cyberattack techniques are constantly emerging, matching the pace of technological innovation. As software develops and changes, so do the angles for exploitation. The rise in state-sponsored cyberattacks is also contributing to cybersecurity anxiety.
DDoS attacks, for example, also sometimes called zero-day attacks, are a serious cybersecurity challenge that can disrupt websites and online services. They work by flooding a target with traffic from multiple sources, overwhelming its servers, and causing it to crash. This can have a significant impact on a business, leading to lost revenue and productivity. Such attacks exploit vulnerabilities that are yet to be discovered or patched.
Mitigating these unknown threats demands proactive and multi-layered security measures. Constant vigilance, continuous monitoring, and threat intelligence gathering are all essential in staying ahead of emerging risks.
In addition to providing employees with the right tools, implementing an incident response plan, and using secure software, a business can become more secure against hidden threats by investing in strong security measures such as:
- Training and proficiency
- Secure coding
- Layered security
Read on for a more detailed look at each one.