Mr. Kaushik Pandya, Current Advisor and Past President of FAIITA and Co-Founder of Kalp Systems

The field of Cybersecurity is constantly evolving, and small and medium-sized businesses (SMEs) are facing new challenges as Cyberthreats become more sophisticated and widespread. SMEs are more prone to Cyber threats in 2023, due to their partial or negligent preparedness toward these kinds of threats. SMEs must gear up and prepare themselves to counter the Cyber threats in the time ahead. I recommend and expect to see several key trends in the Cybersecurity services offered to SMEs in the coming year.

Remote Work Security: With more and more employees working remotely, SMEs will need to focus on securing remote access to their networks and data. This includes implementing strong authentication methods and providing employees with the necessary tools and training to detect and prevent phishing and other types of Cyber attacks.

Cloud Security: As SMEs increasingly move their data and applications to the cloud, they will need to ensure that their cloud environments are secure. This includes implementing proper access controls, monitoring for unusual activity, and regularly testing and updating security measures.

Artificial Intelligence and Machine Learning: Artificial intelligence (AI) and machine learning (ML) technologies are becoming increasingly important for detecting and responding to Cyber threats. SMEs can expect to see more Cybersecurity services that use AI and ML to analyze large amounts of data and identify potential threats in real time.

Internet of Things (IoT) Security: As the number of IoT devices continues to grow, SMEs will need to ensure that these devices are properly secured. This includes implementing proper access controls, monitoring unusual activity, and regularly updating the security of the devices.

Supply Chain Security: SMEs will need to pay more attention to the security of their third-party vendors and partners, as Cyber threats often originate from these sources. This includes implementing proper access controls, monitoring for unusual activity, and regularly testing and updating security measures.

Ransomware Prevention: Ransomware attacks continue to be a major threat to SMEs, and they will need to focus on preventing these types of attacks. This includes implementing proper access controls, monitoring for unusual activity, and regularly testing and updating security measures.

Compliance and regulatory compliance: SMEs will need to ensure that they are meeting various compliance standards, such as HIPAA, SOC2, PCI-DSS, ISO 27001, to protect the sensitive data they handle. SMEs must undergo Cyber Security Posture Analysis once a year to understand their standing with respect to Cyber Security awareness and preparedness across their organization.

Managed Security Services: SMEs will consider outsourcing the day-to-day management of their security tools and infrastructure to a third-party provider, which can help them stay up to date with the latest security technologies and best practices.

Cybersecurity Training and awareness: SMEs will need to educate their employees on how to identify and prevent cyber threats and best practices for Cybersecurity.

In conclusion, SMEs in 2023 will have to focus on a variety of different areas of Cybersecurity to protect their networks, systems, and data from Cyber attacks. By staying up to date with the latest trends and technologies, SMEs can better protect themselves and their customers from Cyber threats.

Be alert, be aware, and be safe.

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