Our Scans · (FS.8.07) Cybersecurity · Weekly Summary

• [New] Mounting artificial intelligence - related cybersecurity risks have prompted cybersecurity agencies from the Five Eyes countries, which includes the U.S., to release new joint guidelines regarding the safe deployment and operation of AI systems. SC Media
• [New] In September, MGM Resorts experienced one of the most devastating ransomware attacks in history, resulting in $100 million in losses and severe disruptions to operations across its renowned Las Vegas casinos. SWK Technologies
• [New] According to Gartner Predicts 2024: AI & Cybersecurity - Turning Disruption Into an Opportunity, Through 2025, generative AI will cause a spike of cybersecurity resources required to secure it, causing more than a 15% incremental spend on application and data security. ArmorCode
• [New] The U.S. Department of Energy announced US$ 15 million in funding to establish six university-based electric power cybersecurity centers that will foster collaborations across the energy sector to address gaps in energy security research and provide cybersecurity education programs. Industrial Cyber
• Federal cybersecurity regulators have had a busy start to 2024 and set in motion a number of new proposed rules and cybersecurity standards that, if implemented, will redefine the landscape for federal cybersecurity regulations in the years ahead. Inside Privacy
• Despite the lack of confidence, IT pros do see the potential in using AI tools to strengthen their security posture: over half said they would be deploying AI-powered cybersecurity tools in 2024, and 63% believe it could improve threat detection and response. TechRadar pro
• The Ministry of Information and Communication Technology recognizes the increasing threat of cyber crime as Namibians rely more on technology. Carnegie Endowment for International Peace
• With exponential cyber threats, along with the increasing digitalization and connectivity of its products and systems, cybersecurity is a pivotal component of Airbus' development. Airbus
• Cyber threats relating to generative AI in financial services are a consistent concern, with threat actors using generative AI to write malware and other types of attacks. Black Arrow Cyber Consulting
• In 2024, the persistent risk associated with remote workforces remains a top concern, compelling organizations to rethink their cybersecurity strategies to protect against sophisticated cyber threats in a decentralized work environment. Security Boulevard
• To date, cyber threat activity against Canada's electricity sector has consisted of fraud and ransomware attempts by cybercriminals, as well as espionage and pre-positioning by state-sponsored actors, all of which we expect will very likely continue. Canadian Centre for Cyber Security
• In 2024, Gartner predicts several significant cybersecurity trends driven by Generative AI, unsecure employee behaviour, third-party risks, continuous threat exposure, boardroom communication gaps, and identity-first security approaches. Yahoo Finance
• Over the past years, several new cybersecurity regulations have been introduced worldwide to address emerging threats and enhance data protection. Help Net Security
• Digital Safety and Security: Thailand is accelerating the development of tools to address cyber threats and online crime. OpenGov Asia
• In 2024 we will see data breaches and cyber-attacks significantly increase and as a result so too will the need for high-level cybersecurity professionals to protect systems and networks, as organizations invest in protecting their digital infrastructure. TechFinancials
• Optimism around artificial intelligence, the ubiquity of cloud computing, and the necessity of cybersecurity measures are expected to drive technology spending in 2024. Spiceworks
• As electric vehicles continue to gain traction globally, stakeholders must prioritize cybersecurity measures to mitigate risks and build trust among consumers. EMobilityPlus
• Technology, encompassing areas like cybersecurity, cloud computing, and e-commerce, is another sector with immense potential for dealmaking growth in 2024. Dailynewsegypt
• Another sector with significant potential for dealmaking growth in 2024 is technology, with areas such as cybersecurity, cloud computing, and e-commerce well placed to attract investments. UAE News 24/7
• By 2027, 30% of cybersecurity functions will revamp application security to be accessible to non-cyber experts and owned by application owners, reflecting the evolving landscape of application development and security requirements. InfotechLead
• By 2027, two-thirds of the world's largest organizations will extend directors and officers insurance to cybersecurity leaders, recognizing the personal legal exposure they face due to evolving laws and regulations. InfotechLead
• By 2028, GenAI adoption will close the cybersecurity skills gap, eliminating the need for specialized education in half of entry-level cybersecurity positions. InfotechLead

Last updated: 25 April 2024