By Kris Lovejoy, Global Security & Resiliency Leader at Kyndryl
The manufacturing industry is rapidly undergoing digitization in the era of Industry 4.0, with technology being increasingly embraced for tasks ranging from strategic planning to end-to-end business operations.
Companies adopting Industry 4.0 technologies like IoT and automation to improve productivity and efficiency face more potential cyber incidents. According to a recent World Economic Forum report, the increase in connectivity and data transparency in the manufacturing ecosystem has expanded the sector’s exposure to cyberattacks. This has led to the manufacturing sector being the most targeted by cyberattacks for three consecutive years, accounting for about 26% of all attacks, with ransomware comprising 71% of these attacks. If a manufacturer experienced a ransomware attack that caused a factory to shut down even for a day, it could send repercussions throughout the entire organization — it could delay orders, cause the brand to be seen as less reliable and create reasons for customers to turn to competitors.
Many manufacturers face cybersecurity-related regulations and guidelines around the world, such as the NIST Cybersecurity Framework in the U.S., the NIS2 Directive and the Cyber Resilience Act in the European Union that aim to protect critical business processes and data. Compliance with these regulations can be challenging and expensive.
Between the increasing threat of cyberattacks and growing regulatory pressures, manufacturers must prioritize cyber resiliency. Here are four strategies that the manufacturing industry can implement to enhance cyber resilience.