Evolving need for Cybersecurity with Technology Adoption in Manufacturing
Manufacturers have been witnessing numerous drawbacks with their technology adoption strategies. The more they get into the depths of technology, the stronger they ought to hold their data and information closer towards safety and security, especially from unethical hackers and unauthorized access.
Modern manufacturing has a lot to do with technology and digitization especially the adoption of cyber security is now a crucial asset that manufacturers shall work on.
In June 2020, Honda Motor Co. announced it had to temporarily shut down operations due to a ransom ware attack at its headquarters, which lead other manufacturers to hasten the cyber security adoption.
All new security standards for Manufactures
Threats to the manufacturing industry can lead to the loss of important data and information and to protect themselves from such issues, the manufacturing department is getting their hands on cyber security tools, applications, and software.
One such tool was created by the National Association of Manufacturers and it was announced on 30th June 2020. The launch of the NAM Cyber Cover cyber security and risk mitigation program was for manufacturers dealing with cyber security issues. This program of cyber security was developed in partnership with AHT Insurance and Coalition which offers complete support for countering and reporting potential risks and cyber attacks.
With the COVID-19 outbreak, various industries have suffered business disruption, especially the manufacturing business. All the scenarios of being stuck in a pandemic hastened the adoption of digital and technology platforms to keep the business running. Many businesses that were already transformed digitally took safety measures in their hands with cybersecurity as such a crisis has led to several thefts and cyberattacks. As per a recent Verizon Data Breach Investigations Report, 60 percent of cyber-attacks target SMBs, largely because they are easier targets.
With an evolving environment, modern manufacturers are taking good advantage of technology and are relying on connections and increasing usage of IoT in businesses. The digital economy is on the rise with the help of technologies such as IoT in Manufacturing, especially during the pandemic when social distancing is to be practiced strictly, digital platforms will help manufacturers as well as consumers to be safe and secure.
Cybersecurity Tools, Programs, & Software
With a number of connected devices on digital platforms and a diversity of devices and industry verticals, there is always a gap that can be manipulated and thus can pose a threat to the data/information of a business. When every business is now connected with the other, it is the prime need for cybersecurity businessto face and overcome the challenge it can cause, especially at the time when manufacturing companies are more than ever dependent on technology and digital platforms for the digital economy and cash flow.
To avoid customer dissatisfaction and loss of crucial data/information of a business, manufacturers are adopting cybersecurity tools and programs to maintain proper interdisciplinary behavior.
Cybersecurity tools not only help you in protecting your data or information, but it also saves a whole procedure from going down the drain. Cybersecurity tools/programs/software help you design/prepare a disaster recovery through early risk assessments and strategy developments that let you overcome the upcoming threats.
Some of the most popular cybersecurity software of 2020 includes WebTian, SiteLock, AppTrana, Heimdal CORP, Teramind, etc.
According to Gartner’s latest Information Security and Risk Management forecast, worldwide spending on information security and risk management systems will reach $131B in 2020, increasing to $174B in 2022 approximately $50B will be dedicated to protecting the endpoint.
Not just this, as per industry network experts from Gartner, cloud security platform and application sales are predicted to grow from $636M in 2020 to $1.63B in 2023, attaining a 36.8% Compound Annual Growth Rate (CAGR) and leading all categories of Information & Security Risk Management systems.
Many companies are relying on Artificial Intelligence technology and Machine Learning as a way to enhance cybersecurity and so it is been practiced by few manufacturers. With AI and ML’s ability to provide predictive analytics, the technologies offer a proper and improved way of handling cybersecurity issues.
Many industry experts have deduced that 80% of telecommunications executives believe their organization would not be able to respond to cyberattacks without AI, with the average being 69% of all enterprises across seven industries.
Technology plays an important role in today’s world, it clearly defines the saying “modern problems require modern solutions”. With a threat to business information manufacturers and different other industries are relying on technology such as IoT, AI, and ML to protect and overcome cyberattacks.
ExpertsConsult being a vast network of subject-matter experts provides valuable market insights. With technology and manufacturing industry based experts’, it is easier for ExperstConsult to help its clients in issues such as cybersecurity and in maintaining a risk management strategy.
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