The Future of Cybersecurity is Artificial Intelligence: Why the Internet of Things (IoT) and Operational Technology (OT) Spaces are Such Big, Ripe Targets for Fraud

The Future of Cybersecurity is Artificial Intelligence:
Why the Internet of Things (IoT) and Operational Technology (OT) Spaces are Such Big, Ripe Targets for Fraud

Industry 4.0 has begun. It’s a tech led revolution in business where older technology and processes are being quickly replaced by smart devices, advanced computing, and automation. Because of this, artificial intelligence (Ai) is helping global industry improve productivity, efficiency, and autonomous operations.

Billions are being poured into Artificial Intelligence. The use of Ai in Industrial IoT alone is set to reach $500 billion by 2025.

But a convergence of information technology and operational technology (IT/OT) could result in disaster for many industries. As automated smart factories and supply chain management are being efficiently handled by Ai, cybercriminals are now stealing high value assets and targets…

As security has been an afterthought.

Because of this, Industry 4.0 is becoming more attractive to cybercriminals.

In fact, the Cybersecurity and Infrastructure Agency (CISA) has warned of a massive increase in ransomware attacks resulting from this new IT/OT marriage. Although the industrial benefits of artificial intelligence are undeniable, global industry must also use the technology for fraud detection and prevention. Not simply for data management, efficiency and cost cutting efforts.

There are five main reasons why the Internet of Things and Operational Technology are such an attractive target for cybercriminals:

  1. Inadequate Security in OT: There is a fatal lack of security in OT and IoT devices. The industry has focused on efficiency, while ignoring security. Ai security layers, like those available at ToolCASE, could quickly solve this security issue by seamlessly sliding into the data flow.
  2. Unpatched security issues: It’s estimated there are millions of unpatched IoT and OT devices, putting them and users at risk for quick and easy exploitation. These issues could be effectively patched with customized Ai solutions.
  3. Overwhelmed Security Teams: With so much data provided by IoT and OT, security teams are overwhelmed with the workload and volume of security related data. Artificial intelligence tools designed specifically for security purposes should be implemented by security teams across industries. 
  4. Large Targets = Big Consequences: The ransomware attack on the Colonial Pipeline, for example, showed the world just how disruptive these large-scale attacks can be. OT infrastructure attacks can stop production, put a halt to the supply chain, cause panic and result in the loss of life. The larger the target for cybercriminals, the larger the trophy. Ai security solutions could put a huge damper on their efforts and keep industry running.
  5. Big Payouts: Ransomware and other cyber-attacks have resulted in enterprises paying out huge ransoms. Because of this, large industries, government services and vulnerable businesses are targets for an easy payday. However, with Ai security features, these attacks could be detected and prevented before criminals gain control of assets.

As systems and processes are driven more by Ai, the answer to the security issue is Ai-based fraud detection and prevention tools. These tools, available at ToolCASE, are a proven solution that any industry, even those who are not using Ai for efficiency and cost cutting purposes, should implement.

The viability of Industry 4.0 depends on it.

Read more about AI and cybersecurity, HERE

Or learn more about ToolCASE, HERE

Source: https://www.forbes.com/sites/forbesbusinesscouncil/2021/09/23/artificial-intelligence-the-future-of-cybersecurity/?sh=557a872c454c

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