LevelBlue, a provider of managed network security services, managed detection and response, strategic consulting, and threat intelligence, on Wednesday released its 2024 Futures Reports: Cyber Resilience in Manufacturing and Transportation. This report depicts the struggle industries are experiencing to balance cybersecurity resiliency and technological innovation in the face of evolving cybercriminal threats in the era of dynamic computing.
At a time when innovation is accelerating, both reports indicate that organizations may not be able to confront risk as well as they once did. More than two in three manufacturing leaders (69 percent) and nearly three in four transportation respondents (73 percent) believe that the opportunities for dynamic computing innovation are accompanied by increased cybersecurity risks. I admit that I am superior. These trade-offs make cyber resilience nearly impossible to achieve.
Additionally, 71% of manufacturing and 69% of transportation respondents say cyber resilience is the primary responsibility of their cybersecurity team, rather than a company-wide priority. Respondents highlighted that cybersecurity is often overlooked in corporate-level decision-making, even though the consequences of cyberattacks can lead to significant financial losses and disruption of critical operations. Only 48% of manufacturing and 53% of transportation executives say cybersecurity is included in broader corporate strategy discussions.
The study is based on a quantitative study conducted by FT Longitude in March 2024. A total of 1,050 executives and managers from 18 countries and seven industries (energy and utilities, financial services, healthcare, and manufacturing) were surveyed. , Retail, Transportation, US SLED (State, Local Government, Higher Education). Respondents work in a variety of cybersecurity-related roles, with 32% working at the executive level and the remainder in C-minus 1 positions. The total number of companies surveyed in the manufacturing industry was 161, with a further 150 companies surveyed in the transportation industry.
“While cyber-attacks are on the rise and associated costs are rising, increasing industry-wide cyber resilience remains a low priority for business leaders,” said Teresa Ranowitz, Chief Evangelist at Level Blue. he said. “As digital innovation takes center stage, cyber resilience is critical to gaining and maintaining stakeholder trust. For manufacturing and transportation organizations, this means It means strengthening your defenses, managing risks, and staying ahead of threats to keep your operations running smoothly. Our research shows that executives effectively balance innovation with risk mitigation. We are looking into the proactive measures that can be taken.”
Additional key findings from both reports include:
Organizations may be less opposed to risk, but 64 percent of respondents in manufacturing and 69 percent in transportation are still wary of implementing artificial intelligence (AI). Digital transformation was found to be a continuing barrier to cybersecurity resiliency for organizations in manufacturing (73%) and transportation (70%), with both industries seeking the necessary external input. I’m having trouble finding guidance. 66% of manufacturing and transportation respondents believe that cybersecurity is an afterthought within their organizations, and 65% of manufacturing and transportation respondents believe efforts are in silos. I admit that there are many. 67% of manufacturing and transportation respondents say cybersecurity resiliency efforts are not fully factored into their organization’s budget. In fact, 78 percent of manufacturing organizations and 73 percent of transportation organizations report that their budgets are reactive rather than proactive. Cybersecurity-as-a-Service (CSaaS) adoption is on the rise, with 35% of manufacturing industries and 33% of transportation industries considering outsourcing their cybersecurity needs rather than managing them in-house. Selected.
LevelBlue acts as a trusted advisor to help organizations achieve cyber resilience. Manufacturing and transportation industries can do this by identifying key barriers. Be safe by design. Aligning cyber investment with business. Building a support ecosystem. and transforming cybersecurity strategies.
Industrial Cyber News Desk
Industrial Cyber News Desk
