Understanding Cybersecurity: Risks, Regulations, and Real-World Impact

Cybersecurity is the practice of protecting people, systems and data from cyberattacks by using various technology, processes and policies. A cyberattack is a malicious and deliberate attempt to breach the information system of an individual or organization. As technology has advanced, the security systems used to protect information technology have also evolved from endpoint security to two-factor authentication. The International Data Corporation (IDC) projects security spending will reach $377 billion by 2028, subsequently increasing the IT security job market as well. The US Bureau of Labor Statistics predicts that the job market for information security analysts will grow 32% by 2032. 

This is likely due to the increase in cyberattacks and the average cost to companies that are attacked. According to IBM, in 2025 the global average cost of a data breach is $4.44 million. While large corporations often skew this average, small businesses are not immune—many spend $46,000 to $100,000 to recover from an attack. According to Smart Financial, in 2023, 61% of phishing scams were targeting small businesses. Regulatory fines due to data breaches are also rising, with the number of organizations paying over $50,000 in fines rising 22.7% and the number of organizations paying over $100,000 in fines rising 19.5%.

Common Cybersecurity Threats

• Ransomware - Malware that holds a victim's data or device hostage, threatening to erase data, keep it locked, or worse unless the victim pays a ransom.
• Malware - Malicious software; computer programming that is intentionally written to harm a computer system or its end users (92% of malware is sent through email). 
• Phishing scams - A deceptive way to obtain sensitive information, often using malware. 
• AI attacks - AI is being used to advance cyberattacks, with generative AI producing fake emails, applications, and business documents in minutes. Even AI tools an organization utilizes can be a space for attackers to prompt injection attacks, leak sensitive data, spread misinformation or worse. 
• Distributed denial-of-service - A DDoS attack attempts to crash a website by overloading it with traffic. 
• Credential Theft - Stolen or abused login credentials.

New Threats

• Cloud computing raises the risk of cloud misconfiguration, unsecured APIs, and other avenues.
• Multi-cloud environments have increased attack surfaces, identity access gaps, cloud sprawl, and increased risk for human error.
• Remote/Hybrid work or utilizing a personal device means more connections for security to protect. 
• Generative AI introduced prompt injection threats, as only 24% of generative AI is secured.
• Cybersecurity expertise shortage, potentially reaching 85 million unfilled jobs by 2030 and could result in higher data breach costs. 

What does cybersecurity include?

There are standards and guidelines that all IT professionals should be following. The National Institute of Standards and Technology (NIST) offer cybersecurity framework to help IT providers and stakeholders secure critical infrastructure. Though AI security is rapidly evolving, 97% organizations reported an AI-related security incident and 63% lack AI governance policies to manage AI according to IBM. With average recovery times exceeding 100 days, proactive cybersecurity planning is essential.

Cybersecurity regulations will vary by industry, for example the healthcare industry has strict security compliance regulations with HIPPA and the General Data Protection Regulation (GDPR). They require employee security measures, encryption of data, access controls, and severe penalties for non-compliance. 

Cybersecurity Myths Debunked:

• Strong passwords alone are not enough.
• Most risk are not well known or contained.
• No industry is immune to cyber threats.
• Small businesses are frequently targeted.

In today’s world, cybersecurity is no longer optional—it’s essential. As threats grow more sophisticated and widespread, organizations must adopt a proactive, layered approach to security. From ransomware and phishing to AI-driven attacks and cloud vulnerabilities, the risks are evolving, but so are the tools and frameworks to combat them. Whether you're a small business or a global enterprise, investing in cybersecurity not only protects your data and reputation but also ensures long-term resilience in an increasingly digital economy. Staying informed, compliant, and prepared is the best defense in a landscape where the next breach is not a question of if, but when.