2024 Cybersecurity Trends, Challenges and Legal Implications: February Cyber News Bytes

Navigating 2024: Key Privacy and Cybersecurity Trends

In a recent article, Baker Donelson outlines top privacy and security issues that companies are facing for 2024 and best practices for mitigating them. Some of these issues include the new state privacy legislation, which will be going into effect for multiple states. The article also discusses the evolving cyber threat landscape, related to advanced social engineering and phishing attacks, ransomware attacks and deep fakes/artificial intelligence. Plus, the SEC has implemented some recent cybersecurity disclosure regulations, which went into effect in December 2023. The industry has also seen an increased risk of class action lawsuits and regulatory scrutiny, as well as concerns regarding vendor management and supply chain integrity – all of which are exerting influence.

Implementing a Robust Cybersecurity Program

Considering that privacy and cybersecurity threats are paramount concerns for all organizations and industries, the necessity of implementing a robust cybersecurity program cannot be overstated. This article from TechTarget delves into the factors affecting risk, costs, and repercussions of cyber attacks, showcasing notable incidents, and delineates essential components of an efficient cybersecurity strategy.

Copyright Challenges in the Age of Generative AI

With the advent of generative artificial intelligence (Gen AI), copyright has quickly become one of the most challenged classes of intellectual property. Actors, authors and content creators have all faced a similar challenge stemming out of the use of Gen AI – does the use of the Gen AI and how its large language models are trained infringe a creator’s intellectual rights? From the perspective of a media creator, this yields several implications. JD Supra discusses district court judge Chhabria’s interpretation of a group of authors’ claims in which they argued that Meta Platforms infringed various copyright laws by training their AI on the authors’ books. The judge makes an objective interpretation of the claims ruling in favor of Meta and against the plaintiffs. This may set a precedent for future suits in a significant victory for Meta.

Allianz Global Risk Assessment Report for 2024

In this piece featured on Business Insurance, Allianz outlines the top global risks for cyber incidents and business interruption in 2024. Cyber threats remain a prominent risk for the third consecutive year, with hackers using AI for ransomware and phishing attacks. The rankings also indicate a rise in concerns linked to natural catastrophes and fire threats. Market dynamics like competition, changes in legislation & regulation, mergers and climate changes were highlighted as key risk as well.