SMIC Technology For Growth

SMIC

Boosting Utility Performance through Improved OT Cybersecurity

Enhance utility performance with robust OT cybersecurity, ensuring resilience and safeguarding critical operations for optimal functionality and reliability.

Operational Technology (OT) cybersecurity is crucial for several reasons:

1. Protection of Critical Infrastructure: OT cybersecurity is a key component of protecting the uptime, security, and safety of industrial environments and critical infrastructure1. It safeguards operating technology assets, systems, and processes from cyber attacks

2. Regulatory Compliance: Organizations focus on OT cybersecurity to comply with strict regulatory requirements1. also offers scalable system capabilities

3. Reduced Risk of Cyber Attacks: The connectedness of OT environments, IT-OT convergence, and the proliferation of cyber-physical systems have expanded OT owners’ attack surface1. Cyber attacks on this sector have intensified

4. Financial Implications: According to the 2021 Cost of a Data Breach Report by IBM and Ponemon Institute, the average cost of a breach was $4.65 million in energy and $4.24 million in the industrial sector

5. Physical Consequences: OT cyberattacks tend to have higher, more negative effects than those in IT do, as they can have physical consequences (for example, shutdowns, outages, leakages, and explosions)

6. Geopolitical Risks: Geopolitical risks in 2022 resulted in an 87 percent increase in ransomware incidents