EUMCCI hosts cyber risk management discussion on Industry 4.0

While Industry 4.0 has been at the forefront of driving innovation and business, it has also presented a new dimension of challenges on managing operational cyber risk, be it smart factories or smart devices. Given the highly interconnected nature of Industry 4.0, there is a need for organizations to take a very strategic outlook to manage security and privacy issues.

Roberto Benetello, Chief Executive Officer of the EU-Malaysia Chamber of Commerce and Industry (EUMCCI), said better and larger connectivity is one of the pillars of this disruptive new industrial revolution.

“As more and more devices talk to one another, keeping data safe has never been more challenging. It is imperative that manufacturing plants looking to adopt Industry 4.0 take steps to improve security and ensure that they are not exposing their system to cyber criminals,” he added.

He was speaking at a seminar on cyber risk management for Industry 4.0, organised by EUMCCI in collaboration with TUV Rheinland, a global leader in testing, inspection, consulting and certification in Kuala Lumpur recently.

Roberto said cyber risks are constantly evolving and companies must make the crucial decision on which risks to avoid, accept, control or transfer.

As the global economy evolves towards Industry 4.0, it is not only crucial that companies prepare their cyber systems for any potential risks, but they should also educate themselves continuously on developments pertaining to risk management.

A highlight of the seminar was the VIP Luncheon with YB Datuk Seri Wilfred Madius Tangau (pic), the Minister of Science, Technology & Innovation (MOSTI), with TUV Rheinland also providing insight on the some of the key issues and how companies could address

Among the topics discussed are the protection of critical infrastructure, automotive cyber security and the evolving threat landscape, and security in the IOT world.