Increasingly, companies are looking to adopt smart technologies to optimise production and decision-making in order to create businesses of the future. However, as reliance on autonomous and digital technology grows, so too does the risk of cyber-attacks, says professional services firm PwC.
As technologies become more interconnected, the potential cybersecurity threats and attack vectors are growing. The consequences of these threats can be severe, resulting in production and revenue losses, regulatory fines, reputational damage, as well as the shutdown of critical infrastructures.
This has been further compounded by the complexities and uptake of smart systems that use advanced technologies such as machine learning and the Internet of Things (IoT).
Termed ‘Smart Manufacturing/Smart Mining’, South African industry leaders recognise that the terms encompass everything from Artificial Intelligence (AI) to robotics and cyber-security.
PwC said it has issued a point of view on emerging cyber threats in the mining and manufacturing industries. The document focuses on emerging cyber threats affecting these sectors, with a focus on South African and other Africa-based organisations.
Although there are considerable benefits in the convergence of these advanced technological systems and the operational technology that makes up the backbone of the sectors, it is important to note that the reliance on such connected and internet-dependent systems is not without its own risks, PwC pointed out.
Junaid Amra, PwC Forensics Technology Solutions Leader said: “Organisations in the manufacturing and mining sectors face a myriad of different cyber threats. A number of organisations have not been paying enough attention to these threats. They are also not prioritising the implementation of the appropriate mitigation strategies, whilst threat actors are starting to take an interest in organisations operating in this space.
By Staff Writer on BusinessTech
Image Source: IFSEC Global