1. Ransomware attacks on OT are rising
Ransomware attacks increased by 10% between 2021 and 2023 in both IT and OT settings. The attacks disrupted the operations of the majority of companies affected - in the worst cases, 12% had to shut down for over a week. In two-thirds of cases, the victims paid the hackers’ ransom.
Source: The Global State of Industrial Cybersecurity 2023 (Claroty)
2. Businesses are turning to cyber insurance
80% of organisations have taken up cyber insurance in hopes it will ease the pain of an immensely expensive recovery. Half of those have opted for policies that cover $500k or more in damages.
3. Industry regulations are driving OT security priorities
The acceleration of regulatory oversight has forced organisations to quickly get up to speed and strengthen their security while simultaneously ensuring they can run their operations unimpeded. 45% of respondents claimed that TSA Security Directives have had the most significant impact on their organisation’s security priorities.
4. The rise of Generative AI - a double-edged sword
AI-powered solutions can help supercharge cybersecurity teams’ response to threats, with over 60% of survey respondents reportedly using these tools. Yet, nearly half of the respondents claim that the use of GenAI is raising their security concerns.
5. Progress is underway
The biggest challenges in their operational technology environment, according to the respondents, are risk assessment; asset, change, or life cycle management; and vulnerability management. Fortunately, these gaps match up with the respondents’ plans to strengthen their security next year. Plus, 77% described their approach to network segmentation as moderate or mature, which will give them a head start in combating cyberattacks by limiting their reach.
