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Dec 14, 2023

Cyber Regulation and Responsibility: A Compelling Focus for 2024

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This blog is part of the 2024 Cyber Predictions blog series where Armis Experts share their thoughts on trends and technologies shaping the future of cybersecurity.
Check out all our 2024 predictive blogs →

 

2023 witnessed groundbreaking advancements in AI and alarming cyberattacks that made headlines. As government agencies and organizations adopt new connected assets, the attack surface continues to expand, making cybersecurity a top priority for the U.S. federal government. Throughout the year, guidance and initiatives were shared to enhance security for agencies, businesses, and individuals, laying a strong foundation. Now, it is crucial to build upon this traction in the year ahead.

Regulation and compliance take center stage

With the rapid growth of connected systems and the exponential increase in data creation and transmission, understanding and securing this data has become paramount. However, each connected device presents a challenge, expanding the attack surface in smart homes, schools, hospitals, enterprises, and government agencies. In 2024, we will witness the federal response to this connected environment and raise important questions about connectedness.

Accompanying these questions is the issue of responsibility. If we accept the risks associated with connecting countless new devices, who should be responsible for regulating and securing these assets? Both enterprise and government organizations have responsibilities and concerns that demand better asset security. The federal government has already begun introducing requirements for reporting and securing these assets, and this trend of regulation and responsibility will continue in 2024. It will encompass new fines for breaches, regulations for AI tools, and recognition and punishment for breaches in the federal, public, and private spheres.

Assigning responsibility is crucial

Having visibility into every connected device is a requirement for securing the environment and assets against attacks. Initiatives like the recent SEC cybersecurity reporting guidance indicate that companies are responsible for taking necessary steps to protect their assets and consumers, and they can be held liable for failing to do so. This trend reflects the growing recognition of the importance of cybersecurity.

In 2024, the responsibility to safeguard against attacks will continue to shift and crystalize. Enterprises and organizations must secure and report the tools they use and expose themselves to. As cyberattack vectors become more diverse, the requirements for logging mitigation efforts will become more stringent, accompanied by increased penalties.

Securing the supply chain is paramount

Nation-state hacking groups and non-affiliated bad actors have gained the ability to disrupt critical operations, causing shutdowns in the manufacturing of essential goods. In response, the federal government should strengthen safeguards for these environments in 2024 and recognize the need for comprehensive security. Consumer technology is already being marked with information and power to secure smart homes, empowering consumers. Recognizing security as a holistic undertaking will become a focal point for the federal government.

A national focus on security is imperative

In the coming year, significant changes in cybersecurity are expected, including the convergence of consumer safety and enterprise security and new protections and regulations for government agencies. Leading this charge will be cybersecurity companies that understand the entire environment and provide customers with the tools they need to secure their assets.

I am proud to represent Armis and recently shared my insights on the current state of cybersecurity and its future growth at the US House Subcommittee hearing on Federal Civilian Cybersecurity programs. The expanding attack surface demands tools and platforms that address present and future needs, rather than relying on outdated approaches. The federal government has started recognizing this, and in 2024, they will further expand on this ethos. Armis is already at the forefront of this evolution.

2024 Cyber Predictions

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