Data has become a vital economic lynchpin as organisations around the world utilise it to improve internal operations or the quality of business outputs.

 Although a growing trend for the last decade, the collection and use of data has been super-charged by the recent pandemic. For example, according to the UK’s Department for Digital, Culture, Media and Sport (DCMS) almost half (49%) of UK consumers have bought at least one smart device since the outbreak of the COVID-19 in 2020, which means more data is now being shared and consumed. However, a consequence of sharing more data and moving much of our lives online is a corresponding rise in security risks associated with operating digitally. 

 

According to cybersecurity firm Deep Instinct, malware threats increased by 358% while ransomware attacks grew by 435% in 2020 compared to the previous year. Overall, hundreds of millions of cyberattacks took place every single day throughout last year as more and more people relied on devices and internet connectivity for work and communication.

 

In this backdrop, if individual users and organisations are to reap the full benefits of digital development on offer, as part of the Fourth Industrial Revolution (4IR), and protect themselves from unprecedented attacks, cybersecurity must be considered a top priority. Not doing so could lead to severe consequences got organisations – a report by cybersecurity firm Radware calculated that the average cost of a cyberattack now exceeds US $1 million.

 

Protecting Data in Manufacturing

 

For manufacturers, the enormous volume of data that goes into and comes from production and operations puts them at a significant risk of experiencing cybersecurity breaches. The volume of big data in manufacturing globally is projected to reach USD 9.1 billion by 2026, compared to USD 3.2 billion in 2018, according to Fortune Business Insights.

 

In most instances, the goal of cyber-attacks on manufacturers’ IT infrastructure usually to target asset integrity, confidentiality or availability. If any of these factors are jeopardised, manufacturers are likely to be exposed to disruption of operations, reputational damage, environmental damage, bodily injury, cyber extortion or network service failure.

 

A survey of UK- based manufacturers highlights that 48% of respondents had already been subject to a cyber security incident. Although 91% of businesses surveyed said they are investing in digital technologies in readiness for the 4IR era, 35% consider that cyber vulnerability is inhibiting them from fully doing so.  However, if manufacturers focus on ensuring the key pillars of cybersecurity protection are covered, they will be able to enjoy the benefits of new technologies whilst remaining protected.

 

So, what should manufacturers focus on when building cyber-resilience? Here are four key areas;

 

1. Infrastructure Mapping: A manufacturer’s IT infrastructure is typically complex but having so many data points make it very difficult to effectively monitor them. Where possible, organisations should interlink their security measures across each element of infrastructure, to prevent security gaps and protect their information structures.

 

2. Real Time Analysis: The Ponemon Institute’s recent report states that it took, on average, 196 days to detect a breach and the time taken to identify a cyber-attack directly relates to the costs suffered. Therefore, the faster an organisation can identify and contain a cybersecurity incident, the less costs will be incurred as a result.  To do this, the IT infrastructure of organisations must be equipped with incident response teams that can not only identify but also take necessary actions to resolve cyber-attacks in a timely manner. Organisations must also have full visibility into all hardware and software programs in their networks to review their risk levels and take necessary actions in advance.

 

3. Create a Security Conscious Culture: Employees can be a firm’s strongest asset against cybercrime. Clear and effective reporting systems must be in place, empowering workers of all levels to flag an issue or suspicion as soon as it is spotted, allowing the security team to investigate as soon as possible. For example, it helps if sales software or planning management programmes are loaded on to a simple dashboard so that users can spot anomalies as they occur.

 

4. Understand the legislative landscape: Protecting organisations and individuals against the threat of cybercrime require a multilateral stakeholder approach, one that must be underpinned by solid and modern legislation. The European Union’s General Data Protection Regulation (GDPR), which is the world’s most comprehensive data governance law, is an example. Brought into force three years ago, the GDPR requires all organisations holding data to comply with strict protocols on how it is stored and used whilst also making consumers aware of what information is collected and for what purpose. Taking a similar approach, in the US, President Joe Biden has signed an executive order to improve cybersecurity due to the number of increasingly sophisticated malicious cyber campaigns that threaten the public sector, the private sector, and ultimately people’s security and privacy.

 

The emergence of 4IR has brought unprecedented changes and major advances in manufacturing. To ensure advanced technologies are able to support industrial progress, steps must be taken by the entire stakeholder universe to protect all forms of data from potential crime, allowing innovation to continue without the threat of disruption or financial loss.