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Cybersecurity to Remain a Hot Topic Throughout 2021

Manufacturing – typically an industry that evolves with the times at a glacier’s pace – jumped into action in 2020 as the pandemic forced the entire business world to change how it operates. That trend will need to continue as cybersecurity should be at the forefront of every executive’s mind throughout 2021, as well.  

With more ambitious digital initiatives, businesses are changing their cyber strategies and investing more. According to a recent PwC survey, 55 percent of companies are increasing their cyber budget, and 51 percent of respondents also intend to increase their headcount. Although 50 percent of respondents say cyber and privacy will be baked into every business decision or plan, 72 percent believe they can strengthen their cybersecurity posture while containing costs. 

Manufacturing did its part in 2020, and that is expected to continue in 2021. This industry activated tech-and-people investments in the Internet of Things, artificial intelligence, robotics and other Fourth Industrial Revolution technologies to add efficiencies, reconfigure production lines and realign supply chains to meet their customers’ priorities and needs.  

As for cyber security, some of the biggest changes in manufacturing include: 

  • Cybersecurity and privacy implication baked into every business decision or planning (52 percent); 
  • Better and more granular quantification of cyber risk (47 percent); and  
  • New process of budgeting for cyber spend or investments. 

Nearly 40 percent of manufacturing executives expect to continue accelerating automation for cost-cutting as well as digitizing plants for growth. These initiatives call for baking cybersecurity and privacy implication into business decisions and planning – a much needed change in manufacturing’s typical disconnected cyber, IT operations and business strategies. This change in cyber strategy will help, especially as the industry encounters a widening attack surface as organizations double down on IoT deployments and ramp up cloud adoption.  

Maintaining a robust cybersecurity posture is difficult enough in normal times, let alone during a global pandemic. Partner with 2W Tech for assistance. We have a thorough Cybersecurity Compliance Program that will protect your organization from cyberthreats and regulation violations alike. Contact us today. 

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