The trend of Cybersecurity 2.0 encompasses the next generation of solutions, processes, and standard operating rules and regulations that leverage artificial intelligence (AI) and other advanced technologies and ways of working to protect critical systems, sensitive information, and devices against cyberthreats. It involves protection, detection, and response tools that not only prevent attacks but also actively predict and autonomously detect threats and respond to attacks.
Significant developments in collaborative online platforms, the rising number of Internet of Things (IoT) devices, and acceleration towards digitalized operations using cloud-based servers and digital processes have led to an increase in cyberattacks. As this type of crime grows in volume and sophistication, companies have increased their security budgets and adopted more advanced systems of defense. However, keeping up with the number and severity of threats continues to be a challenge. Studies show in 2021 the average number of cyberattacks and data breaches on 1,200 organizations across 13 industries and public sectors increased by 15.1% from the previous year. A quarter of all respondents additionally conveyed that the merging of digital and physical systems, as seen in IoT devices, increases their risk of threat. Reflectively, a Fortune Business Insights report shows the projected market value increase in cybersecurity reaching 376.32 billion USD by 2029, from 139.77 billion USD in 2021 at a CAGR of 13.4%.
In the logistics industry, publicly known cybercrime assaults used to occur only every few years. More recently, it seems one or two are happening every month. In May 2021, a cyberattack successfully shut down the largest pipeline system for refined oil products in the US, the Colonial Pipeline, disrupting the supply of energy to approximately half of the US east coast for about a week, costing the corporation upwards of 50 million USD.
With such an increase in incidents, paired with the negative impact of cyberattacks on global supply chains, this trend requires new levels of resilience and more focus and prioritization to ensure proactive defenses as the digital backbone of the organization.
