Event: Cybersecurity – In Boardroom, Borneo Edition

//Event: Cybersecurity – In Boardroom, Borneo Edition

Event: Cybersecurity – In Boardroom, Borneo Edition

Organizations’ Cybersecurity Readiness for Industry 4.0

Pink Elephant Asia Management Consultant Mr Dinesh Sekar and Commercial Lead Ms Angelina Law attended an event organized by AC Interactive Solutions Sdn Bhd and in collaboration with Intelligence Sandbox Sdn Bhd on the topic of, “Cybersecurity – In Boardroom, Borneo Edition”. Mr Dinesh Sekar delivered a key note session on the topic of  “Organization’s readiness for Industry 4.0”. The summary of his key note is as below.

Malaysia has been making clear precise steps towards an organization wide transformation from current Industry 3.0 to Industry 4.0. In the keynote session on Cyber-security; Looking at Malaysia’s progress and global cyber-security index, According to International Telecommunication Union report for 2017, Malaysia is ranked second in Asia and Pacific region and globally third on their commitment for building cyber-security capability for Malaysia.

Organization relies heavily on Information and Technology to enable the organization and to deliver value. Delivering value has a continuous threat both from internal and external actors. Thus, information security / cyber security has to be an organization’s mission-critical function. Cyber-security incidents or breaches is a question of “WHEN” it will happen compared to, “IF” something happens.

Some of the questions that was asked to participants were:

  • How many of your organization have experienced a cyber-attack?
  • How many of you don’t know that your organization have experienced a cyber-attack?
  • How many of you know exactly what to do in case of cyber-attack?
  • How long does it take for your organization to detect a cyber-attack?
  • Does the board / leadership include someone with good understanding of information security and cyber-security?
  • Cyber Security and Resilience, Is it a Business issue or IT issue?

Cyber-threats and concerns continues to raise not just on a nation wide but even at organization wide. Every board knows the importance of cyber-security and board ensures cyber security is on their top 10 challenges that business face and cyber-security is also included in business priorities as per the Hackette Group. But looking at the GCI score In below table organizational score is much lesser.

Effective Cyber-security is the right blend of modern technology + cyber-security strategy + expertise.

Figure 1 – Global Top 3 committed countries, GCI

Some of the key gaps in Organization’s in Malaysia:

  • Security an Afterthought – only 23% of organizations consider cybersecurity before the start of digital transformation.
  • Creating a Complex Security Environment – A large portfolio of cybersecurity solution does not guarantee safety but slow recovery.
  • Lacking Cybersecurity Strategy – only 20% of organization see cybersecurity strategy as a transformation enabler
  • Assumes the attack wont happen to them
  • Does not have a plan incase of an attack
  • Don’t fully know where all their data is
  • Expects that technology alone is enough to detect and stop a breach
  • Never done any assurance on their detection
  • Assumes threat will always be from external source

Figure 2 – Malaysia Global Cybersecurity Index, 2017

How do we address this gap?

  • Position cybersecurity as a digital transformation enabler
  • Build a threat-led cybersecurity / cyber risk program and upskill employees
  • Continue to invest in strengthening your security fundamentals – Get the basics right!
  • Maximize skills and tools by leveraging integrated best-of-suite tools
  • Assessment, review and continuous compliance – Stress test your defense
  • Leverage Machine Learning, AI and automation to increase capabilities and capacity

Pink Elephant’s Offering to address your demand:

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By |2018-10-24T17:54:13+00:00October 19th, 2018|Cybersecurity|0 Comments

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