Technologies for industrial automation to combat growing cyber threats

By Staff Report August 17, 2024 12:20 pm

Cybersecurity plays a fundamental role in the field of industrial automation, safeguarding systems to maintain their integrity and protection. It encompasses protecting networked systems, control mechanisms, and data from cyber threats in production environments. The article discusses how advanced technologies are enhancing cyber security measures for manufacturing.

The industry is using modern technologies such as artificial intelligence, machine learning, and blockchain to identify vulnerabilities and reduce risks. With the help of artificial intelligence, real-time anomaly detection systems help identify deviations in operational patterns and help prevent potential breaches.

The use of blockchain technology allows for secure data exchange between devices, thus increasing transparency and traceability. These innovations ensure that operational techniques are safe, making them more efficient while enhancing trust in automated systems. As businesses depend more on interconnected networks, it becomes increasingly important to have robust cybersecurity measures to protect infrastructure and promote long-term growth in industrial automation.

According to a recent report published by Allied Market Research, the global cyber security for industrial automation industry is anticipated to showcase a noteworthy CAGR of 8.7 percent throughout the forecast period.

Enhancing security measures for manufacturing 

The increase in global cybercrimes and attacks has highlighted the need for robust cybersecurity protocols, notably in the manufacturing industry. System vulnerabilities can be used by hackers to gain access to sensitive information such as production secrets and techniques, customer information, and economic details. For instance, in May 2021, the Brazilian meat processing organisation JBS encountered a ransomware attack that resulted in the shutdown of most of its factories. To regain control and protect its supply chain and customer data, the organisation paid $8.8 million. Similarly, Acer, a computer manufacturer based in Taiwan, fell victim to a cyberattack in March 2021, leading to a breach of its financial data and operations.

These incidents emphasise the urgent need for manufacturers to reinforce their cybersecurity protocols. Implementing robust cybersecurity strategies in industrial environments enhances risk evaluation, management, and access controls used to protect valuable information. For instance, the cyber-attack on Toyota in 2020, where hackers obtained confidential production data, highlights the importance of securing industrial systems. By adopting appropriate cybersecurity practices, manufacturers are able to better protect themselves from potential threats and ensure the safety of their operations and customer information.

Prisma Cloud

Palo Alto Networks announced on December 5, 2023, the completion of its acquisition of Dig Security, a leading provider of Data Security Posture Management (DSPM). Due to the huge amount of information stored in the cloud, specialised data security solutions are essential. Dig’s advanced features will be seamlessly integrated into Palo Alto Networks’ Prisma® Cloud platform, providing near real-time data protection across cloud environments.

Nikesh Arora, chairman and CEO, stated the importance of public cloud and data in an enterprise’s digital footprint, especially in the era of generative AI. He highlighted the need for CISOs to focus on data protection as part of their cloud security strategies. By integrating Dig’s DSPM into Prisma Cloud, they aim to improve essential cloud security with enhanced data security measures.

Prisma Cloud, the most extensive cloud-native application protection platform in the industry, now includes improved data security features. The partnership with Dig’s technology extends the Code to Cloud™ intelligence insights, providing a unified platform to secure complex cloud environments. 

Global Access Solutions 

Carrier Global Corporation finalised an agreement during December 2023 to sell its security division, Global Access Solutions, to Honeywell for $4.95 billion.  This deal values the company at around 17 times its estimated 2023 EBITDA and represents a significant move in Carrier’s efforts to change its portfolio.

Global Access Solutions, with a workforce of around 1,200 individuals across 33 nations, specialises in advanced access and security technology like electronic locks and mobile key systems.  The sale enables the division to expand its reputable brands and innovative products while making the most of strong partnerships.

Carrier expects to gain roughly $4 billion from the sale, which will be further used to reduce debt. The company plans to renew share repurchases as soon as its net leverage returns around 2x EBITDA. The transaction, a challenge to regulatory approvals and common conditions, is expected to close by the end of 2024. Goldman Sachs and J.P. Morgan are advising Carrier, with legal support from Paul, Weiss, and Linklaters. 

In summary 

Conclusively, the integration of advanced technologies such as artificial intelligence, blockchain, and data security solutions highlights the essential need for robust cybersecurity. As businesses deal with growing cyber threats, strategic acquisitions and divestitures, such as those involving Palo Alto Networks and Carrier Global, show an innovative approach to protecting operations and offer lucrative opportunities for industry expansion in the coming era.

Cyber security for industrial automation focuses on safeguarding networked systems, control mechanisms, and data in manufacturing environments from cyber threats. The use of artificial intelligence, blockchain, and specialized data security solutions is essential for improving security, efficiency, and trust in interconnected industrial systems.