5 cybersecurity risks posed by emerging technology – and how we can defend against them

5 cybersecurity risks posed by emerging technology – and how we can defend against them   

The advent of digital technology is profoundly reshaping industries, economies, and the very fabric of our societies.A recent report from the World Economic Forum underscores the substantial opportunities that emerging technologies present, encompassing artificial intelligence (AI), quantum computing, biotechnologies, and the Internet of Things (IoT).

However, while the report, titled “Navigating Cyber Resilience in the Age of Emerging Technologies,” exudes optimism, it also cautions against complacency. As these advanced technologies assume increasingly pivotal roles, often central to national security, a heightened level of cyber resilience will be indispensable to safeguard them from malicious attacks.

A shifting threat landscape

The Forum’s Global Cybersecurity Outlook 2024 revealed that a staggering 55.1% of leaders anticipate that emerging technologies will confer an advantage upon cyber attackers. Conversely, only 8.9% expressed confidence that new technology will bolster the cyber defense position. Deepfakes, malware development, and data breaches emerged as the primary concerns raised by executives who participated in the survey.

A paradigm shift for cyber resilience

The Forum’s Navigating Cyber Resilience report advocates for a novel approach to ensure rigorous cybersecurity as technology evolves.

“The conventional mindset of security by design, which entails integrating security measures into emerging technologies from inception, is no longer adequate in the face of the intricate and evolving threat environment,” the report asserts. “Instead, there is an urgent imperative to adopt a resilience by design approach, which transcends mere protection to guarantee that systems can withstand and recover from the inevitable assaults that will inevitably occur.”

Here are five key findings from the report:

1. Expanding attack surface: Over 200 critical and emerging technologies will rapidly augment potential cyberattack entry points. By 2025, an estimated 75 billion interconnected devices will each constitute a vulnerability. The necessity for comprehensive and robust security measures has never been more pronounced.

2. AI’s Risk and Reward Profile:

Less than two years after the generative AI breakthrough, new vulnerabilities have emerged, including data poisoning, model manipulation, and adversarial attacks such as AI-driven phishing. On the positive side, AI tools can significantly enhance cybersecurity measures. However, continuous innovation will be essential to develop advanced and evolving defense strategies.

3. Quantum Computing Threatens Encryption:

The immense processing power of quantum computing poses a significant threat to current encryption technology. There is evidence suggesting that cybercriminals are actively storing data to decrypt encrypted information in the future. Therefore, an urgent approach to quantum-proof encryption is imperative.

4. Supply Chain Vulnerabilities:

Technology-driven global supply chains are susceptible to attacks by cybercriminals and other malicious actors. Robust, end-to-end security measures are necessary to ensure the uninterrupted flow of goods between global economies.

5. Defense Challenges:

A critical shortage of cybersecurity professionals with expertise in emerging technologies is compromising defenses. To successfully secure new systems and respond to evolving threats, both the public and private sectors must invest in cybersecurity recruitment and upskilling initiatives.

“Resilience by design is a paradigm-shifting approach; it requires organizations and policymakers to broaden their focus from merely improving cybersecurity to a comprehensive approach to advancing cyber resilience,” said Akshay Joshi, Head of the World Economic Forum’s Centre for Cybersecurity. “It involves constructing systems that are not only secure but also flexible and adaptive, capable of evolving in response to emerging threats.”

Building a Cyber-Resilient Future

• In light of the risks posed by emerging technologies, the report presents a comprehensive range of recommendations to safeguard critical systems.

• Investing in research and development, particularly in innovative solutions such as advanced cryptographic techniques and AI-driven tools, will be pivotal.  

•  Technological advancement must be accompanied by strengthened partnerships between governments, industries, and academia. These collaborations should prioritize collective problem-solving and enhancing cyber skills in emerging technology domains.

• As emerging technologies increasingly integrate into economies, regulatory frameworks and standardization will assume a pivotal role in promoting security by design and facilitating international cooperation.

• Implementing ongoing monitoring mechanisms and adapting strategies to evolving threats will be indispensable. By judiciously balancing risks and opportunities, we can maintain a secure and resilient digital ecosystem that fosters innovation while safeguarding our critical assets. This approach will pave the way for a thriving and secure digital future