The rapid pace of technology adoption across industries has significantly increased the rate of cyberattacks. The automotive industry, in particular, has been heavily impacted as it enhances its systems and products with new technology.
In some cases this has led to serious operational setbacks, with dealerships needing to resort to pen and paper during system outages. This raises an important question: If your industry is adopting new technology, are your cybersecurity efforts advancing with it?
The stakes are high for organizations that don’t adequately handle cybersecurity, with each cyberattack costing companies an average of $4.45 million per incident; proving the more technology a company adopts, the more vulnerable it becomes. In many cases, organizations take a reactive vs. proactive approach to cyber risk, often due to a misunderstanding of cybersecurity or an underestimation of the threat landscape.
In the automotive sector, manufacturers rank cybersecurity as their top external concern. Nonetheless, the industry remains a target for breaches.
A report by Upstream Security revealed that 42% of automotive cyber incidents in 2023 involved service and business…
