Digital technology and AI offer huge rewards for manufacturers, but they can also open the door to cyberattacks. Neil Lloyd explains why businesses must take steps to protect themselves.
There is no doubt that the future of manufacturing lies in embracing technology.
Whether that is the digital revolution sweeping through industry, the rise of automation or the march of smart machinery that can learn for itself thanks to AI, there are few businesses which won’t benefit from the innovations which Industry 4.0 is bringing.
If you are not already using some of this technology in your own offices and on your factory floors, you soon will be. And you – and your business – will benefit enormously from it.
But, as amazing as it is, this new technology also comes with a very real health warning. That’s because our increasing adoption of everything it can offer has also opened the door to cybercriminals intent on lining their own pockets at our expense.
Government figures released in April show that 32% of all businesses reported experiencing cyberbreaches or attacks in the last year, highlighting just how vulnerable companies are to these threats.
The figures also showed that where a breach resulted in a loss of data or assets, the average cost of a cyberattack on a business has risen by around 25% in the past 12 months.
This article first appeared in the November issue of The Manufacturer magazine. Click here to subscribe
Meanwhile a report for insurance company Hiscox showed 55% of businesses questioned had been hit by a cyberattack so far this year, with almost three-quarters of firms ranked as ‘novices’ in terms of cyber-readiness.
I’ll bet you don’t leave your factory gates unlocked when there is nobody on site or put a great big sign outside your front door saying how much cash and equipment there is inside.
But if you’re not taking active measures to keep the cybercrooks at bay you are effectively doing just that.
That’s why FBC Manby Bowdler has teamed up with one of the country’s foremost experts in online security to offer businesses cutting-edge solutions to cyberattacks and data issues.
Our partnership with cybersecurity consultants Affinitas Global and its director Stuart Bird offers an unrivalled package of cyber-solutions for businesses from both a corporate and employment perspective.
Stuart is a leader in the field of cyber-investigations, with vast experience across a range of organisations throughout the world, and the knowledge he brings means that our specialist team is ideally placed to advise on all your business’s cybersecurity measures.
So, embrace everything that this amazing new technology has to offer your business, but make sure it’s you who reaps the benefits and not the cybercrook.
Neil Lloyd is sales director of law firm FBC Manby Bowdler
FBC Manby Bowdler LLP is a 28-Partner award-winning regional law firm focused on and committed to intelligently delivering stellar service to its customers.
To speak to FBC Manby Bowdler about its cybersecurity services, contact corporate department lead partner James Sage at: [email protected] or phone 01902 392435