Security awareness trainings to become important as cybersecurity breaches increase

The conclusion was drawn due to the high impact of data breaches. In 2024, the cost of data breaches will rise from USD 3 trillion each year to over USD 5 trillion, an average annual growth of 11%.

This will primarily be driven by increasing fines for data breaches as regulation tightens, as well as a greater proportion of business lost as enterprises become more dependent on the digital realm. The research noted that while the cost per breach will steadily rise in the future, the levels of data disclosed will make headlines but not impact breach costs directly, as most fines and lost business are not directly related to breach sizes.

Moreover, the report anticipates that cybercriminals will use AI, which will learn the behaviour of security systems in a similar way to how cybersecurity companies currently employ the technology to detect abnormal behaviour. The research also reveals that the evolution of deep fakes and other AI-based techniques is also likely to play a part in social media cybercrime in the future.

However, in spite of cybersecurity becoming increasingly part of corporate culture, it is not necessarily gaining traction with system users. The gains that can be made by increasing human awareness of cybersecurity can make more efficient use of cybersecurity spending, which Juniper Research expects to rise by only 8% per annum in the forecast period.