From automation to edge computing and artificial intelligence (AI), manufacturers are leveraging advanced technologies to minimise costs and maximise returns.
Asia-Pacific's manufacturers have been quick to recognise the advantages of digital transformation, with adoption enabling them to become a global manufacturing powerhouse. According to Fortune Business Insights, the global smart manufacturing market is the largest in the world, with an expected compound annual growth rate (CAGR) of 15.7 per cent from 2022 to 2030.
However, technology adoption presents challenges--especially for manufacturers considering the convergence between information technology systems (IT) and operational technology (OT) systems. This increased connectivity raises security risks, particularly when older OT devices are in use.
Often built with minimal security considerations, legacy OT systems create vulnerabilities in the network, making them an ideal target for widespread cyberattacks. Organisations must, therefore, be ready for the complexities of IT/OT convergence in terms of system size, location, data types, and technology stacks.
A security-first approach
As OT systems previously isolated from external networks become more integrated, the manufacturing and construction industries have become especially vulnerable to cyberattacks. In Singapore, for example, official statistics show that these sectors were notably affected by ransomware last year. This occurrence in one of the most developed economies in the region should prompt CIOs at manufacturing companies across the Asia-Pacific to take serious notice.
The Asia Pacific Risk Center's research (APRC), shows that cybercriminals thrive in the region due to the lack of skilled personnel. The APRC found that 42% of HR professionals in Asia anticipate a lack of supply of cybersecurity talent in their IT and tech functions. This has been a persistent challenge of CIOs for years. With a shortage of people able to implement and enforce cybersecurity, organisations are in a vulnerable position considering the sophistication of cyber criminals today.
Coupled with the skills shortage, the Asia-Pacific is fertile ground for attackers because of its relatively high digital connectivity.
Coupled with the skills shortage, the Asia-Pacific is fertile ground for attackers because of its relatively high digital connectivity.
Tackling this challenge requires a deliberate and proactive strategy, notably because operations are increasingly occurring in cloud environments. Cloud migration enables scalability, cost savings, enhanced collaboration, and access to advanced technologies like AI and machine learning, and research by Epicor finds that, 97% of enterprises operate cloud-based solutions. With the numerous benefits that could computing offers, it's essential to implement robust security measures to mitigate potential risks.
Through effective risk management, organisations can unlock the full potential of cloud computing, including increased efficiency and flexibility.
AI is everywhere
We cannot exclude AI from the security conversation. The technology is now influential in almost every industry and function, including manufacturing. In fact, IDC reports that by 2025, 45% of Asia-Pacific-based companies will integrate AI into their operational systems for better operational and real-time analytics. To ensure a smooth transition and maximise benefits, prioritising robust security measures alongside AI implementation is crucial.
Cloud-based solutions often come equipped with built-in security features that can further safeguard AI systems. By leveraging these features and the inherent security advantages of cloud platforms, organisations can not only effectively mitigate risks but also accelerate AI adoption, and unlock the full potential of AI for increased efficiency, improved decision-making, and a competitive edge.
Strengthen people, processes & systems
Threat actors typically attack on two fronts: employees and systems. This prompts CIOs to undertake a multi-pronged approach. Firstly, operational systems must be secured by ensuring workstations are updated with the latest anti-malware software and protecting the enterprise software with robust firewalls. After all, operational systems tend to contain sensitive data about the company and its customers.
Leaders need to keep their guard up and stay ahead of potential risks via regular audits of security tools and processes. This drives organisations to evolve their skillsets in line with pressing cybersecurity demands. Beyond that, CIOs should prioritise consistent employee training and investments in the right technologies to bolster their organisation's overall security posture.
To prevent bad actors from accessing systems via stolen credentials, improving cyber hygiene within the workforce is key.
To prevent bad actors from accessing systems via stolen credentials, improving cyber hygiene within the workforce is key. Employees should be trained to spot and address social engineering attacks like phishing.
With this balanced approach that considers people, processes, and technology, organisations can safeguard their assets, significantly minimising risks, while the industry continues to explore advancements in AI and data management.
