Metals companies that want to stay competitive must collect data from their machines to make informed decisions and increase productivity. Realizing the full benefits of using machine data increasingly requires companies to connect their machines to cloud infrastructure or applications.
However, sharing and storing information in the cloud provides threat actors with new points of access and makes companies more vulnerable to cyberattacks. Furthermore, advanced technologies like artificial intelligence (AI) add yet another layer of security concerns for metals leaders. Increased risk and amplified uncertainty can make many decision-makers hesitant to take the next step in embracing technology.
According to the Crowe “2023 Technology in Metals Survey Insights,” 63% of metals leaders see cybersecurity as the number-one IT-related risk – a percentage that has risen year over year. Despite the increased concern, survey respondents have also expressed increased interest in using advanced technologies such as AI, machine learning, and data science.
Metals leaders can benefit from understanding misconceptions about cybersecurity risks. As leaders gain greater clarity about cybersecurity safety measures, they can become more confident about machine connectivity and emerging technologies.