Risk Trends 2025 and Beyond: Information and operations technology governance
Risk Trends 2025 and Beyond: Information and operations technology governance
In today’s digital landscape, the merging of information technology (IT) and operational technology (OT) brings both opportunities and risks. While this integration can drive efficiency, it also opens the door to cyber threats, particularly from state-sponsored actors targeting critical infrastructure.
The growing complexity of these systems, coupled with a shortage of skilled professionals, amplifies vulnerabilities. How can organizations bridge the gap between IT and OT security?
What will you do when the current cost of your IT/OT needs exceeds the allowable budget?
In today’s digital world, the convergence of information technology (IT)and operational technology (OT) has pros and cons. Both the integration and poor governance of either can create risk.
Cyber criminals are targeting IT and OT systems at an accelerating rate to increase downtime and disrupt industrial processes and customers. The Canadian government and regulators emphasize protecting critical infrastructure, especially OT systems like power grids and water management systems.
State-sponsored actors also pose a serious threat, targeting infrastructure to gather information through espionage. They use this information to prepare and position themselves for future conflicts. The risk of cyber threats on both IT and OT systems is a top concern. As these systems become more integrated, vulnerabilities in IT can impact OT environments, such as industrial control systems, which are often less resilient to disruptions.
Today's landscape has a shortage of skilled professionals with expertise in both IT and OT cyber security. This skills gap could lead to governance issues and increased vulnerability to attacks. Effective IT change management is crucial. Without it, organizations risk operational disruptions, security weaknesses, and compliance issues.
Bridging the divide
Physical security measures are also important. Insufficient physical security for OT infrastructure can lead to unauthorized access and tampering with systems. Organizations need to take a proactive stance to address these risks. This may include investing in training for teams, thorough security measures, and detailed IT change management processes. Regular risk assessments and audits can help identify and prevent vulnerabilities.
One major challenge is that smaller companies often struggle to keep their technology up to date due to budget constraints, while larger companies can afford the latest innovations. This creates a divide, making smaller businesses more vulnerable to cyber threats.
Ultimately, IT and OT leaders must prioritize investments in information and operations technology based on strategy and the needs of the business. They need to be agile, moving as fast as their strategy to protect against ever-evolving threats. By staying focused on strategic goals and minimizing risk exposure, they can ensure their systems remain secure and effective.
Why stop there? Here are other risks to consider:
- Non-compliance to related regulation and laws
- Data governance and privacy
- Supply chain vulnerabilities
- Outsourcing that causes controls to weaken or no longer exist
Questions to consider:
- Is it possible to adapt and change IT and OT priorities as quickly as your strategy, while not exceeding your budget?
- Can IT and OT leaders anticipate what needs to change and when, while aligning to long term strategy?
- Does your organization's IT- and OT-related change management consider how it may impact cyber security exposure?
