On January 25, 2022, Travis Hoyt, Florindo Gallicchio, Charles Horton, and Nabil Hannan were featured in TechRound’s 2022 Cybersecurity Predictions round up. Preview the article below, or read the full article online here.
- Explore industry expert predictions on what’s in store for cybersecurity in 2022.
- Cyber-attacks have remained a key concern throughout the COVID-19 pandemic. With 2021 now over, what does the new year have in store for cybersecurity?
- We’ve collected predictions from industry experts, including HelpSystems’s Joe Vest, Gemserv’s Andy Green and more.
With many businesses continuing to work from home where possible and settling into a more hybrid style of work, cybersecurity has been a key concern across a range of industries.
Here, we’ve collected opinions from industry experts on what they predict 2022 has in store for cybersecurity.
Travis Hoyt, CTO at NetSPI
Attack surface management: “As organisations continue to become more reliant on SaaS technologies to enable digital transformation efforts, the security perimeter has expanded. Organisations now face a new source of cybersecurity risk as cybercriminals look to exploit misconfigurations or vulnerabilities in these SaaS technologies to wage costly attacks. In 2022, we can expect that organisations will become more focused on SaaS posture management and ensuring that their SaaS footprint is not left open as a vector for cyberattacks. This trend will be further accelerated by the insistence of insurance providers that organisations have a detailed understanding of their SaaS deployments and configurations, or face higher premiums or even a refusal of insurance altogether.”
Next generation architectures open new doors for security teams: “Interest in distributed ledger technology, or blockchain, are beginning to evolve beyond the cryptocurrency space. In 2022, we’ll begin to see the conversation shift from bitcoin to discuss the power blockchain can have within the security industry. Companies have already started using this next generation architecture, to better communicate in a secure environment within their organisations and among peers and partners. And I expect we’ll continue to see this strategy unfold as the industry grows.”
CFOs will make or break ransomware mitigation: “For too long, companies have taken a reactionary approach to ransomware attacks – opting to pay, or not pay, after the damage has already been caused. I expect to see CFOs prioritising conversations surrounding ransomware and cyber insurance within 2022 planning and budgetary meetings to develop a playbook that overalls all potential ransomware situations and a corresponding strategy to mitigate both damage and corporate spend. If they don’t lead with proactivity and continue to take a laggard approach to ransomware and cyber insurance, they are leaving their companies at risk for both a serious attack and lost corporate funds.”
Florindo Gallicchio, Managing Director and Head of Strategic Solutions at NetSPI
Cybersecurity budgets will rebound significantly from lower spend levels during the pandemic: “As we look to 2022, cybersecurity budgets will rebound significantly after a stark decrease in spending spurred by the pandemic. Ironically, while COVID-19 drove budget cuts initially, it also accelerated digital transformation efforts across industries – including automation and work-from-home infrastructure, which have both opened companies up to new security risks, leading to higher cybersecurity budget allocation in the new year. Decisions are being made in Fortune 500+ companies with CFOs on the ground, as these risk-focused enterprises understand the need for larger budgets, as well as thorough budgeted risk and compliance strategies. Smaller corporations that do not currently operate under this mindset should follow the lead of larger industry leaders to stay ahead of potential threats that emerge throughout the year.”
Charles Horton, Chief Operations Officer at NetSPI
Company culture could solve the cybersecurity hiring crisis: “It’s no secret that cybersecurity, like many industries, is facing a hiring crisis. The Great Resignation we’re seeing across the country has underscored a growing trend spurred by the COVID-19 pandemic: employees will leave their company if it cannot effectively meet their needs or fit into their lifestyle. From a retention perspective, I expect to see department heads fostering a culture that’s built on principles like performance, accountability, caring, communication, and collaboration. Once this team-based viewpoint is established, employees will take greater pride in their work, producing positive results for their teams, the company and themselves – ultimately driving positive retention rates across the organisation.”
Nabil Hannan, Managing Director at NetSPI
2022 is the year for API security: “In 2022, we will see organisations turn their attention to API security risks, deploying security solutions and conducting internal audits aimed at understanding and reducing the level of risk their current API configurations and deployments create. Over the past few years, APIs have become the cornerstone of modern software development. Organisations often leverage hundreds, and even thousands, of APIs, and ensuring they are properly configured and secured is a significant and growing challenge. Compounding this issue, cyberattackers have increasingly turned to APIs as their preferred attack vector when seeking to breach an organisation, looking for vulnerable connection points within API deployments where they can gain access to an application or network. For these reasons, securing APIs will be a top priority throughout 2022.”
The Skills Shortage Will Continue Until Hiring Practices Change: “In 2022 the cybersecurity skills gap will persist, but organisations that take a realistic approach to cybersecurity hiring and make a commitment to building cybersecurity talent from the ground up will find the most success in addressing it. The focus in closing the skills gap often relies on educating a new generation of cybersecurity professionals through universities and trade programs, and generally encouraging more interest in young professionals joining the field. In reality, though, these programs will only have limited success. The real culprit behind the skills gap is that organisations often maintain unrealistic hiring practices, with cybersecurity degrees and certification holders often finding untenable job requirements such as 3+ years of experience for an entry level job.”