A new report by Inmarsat warns mining organisations to increase cybersecurity measures to gain maximum benefits from the Internet of Things (IoT) technology.
Inmarsat’s ‘The Future of IoT in Enterprise’ report, which surveyed circa 100 mining companies worldwide, indicates an urgent need for the industry to keep up to date with the latest security challenges resulted from IoT adoption.
Cybersecurity is, admittedly, the main concern of the mining industry’s digital transformation journey. As IoT connects mining operations to the cloud and prepares for scalability, it can increase vulnerability and open new avenues for cyberattackers seeking to infiltrate networks, disrupt operations, or conduct cyber espionage.
According to the research, the increased dependency the sector has on data for its operations and profitability means that the risks of not having adequate digital security in place grow exponentially.
Decision Inc. Immix leverages the Microsoft Dyanmics 365 technology to provide mining specific software across a variety of modules. Other investments in Microsoft’s software are also leveraged providing a reduced cost of ownership.
A connected mine needs enforced cybersecurity to perform at peak levels. Sophisticated cyber-attacks can cause the whole operations to grind to a complete halt if not prevented and dealt with properly, whereas a decade ago a data breach or intrusion would have only been an inconvenience.
In the research, 94% admitted their digital security protocols needed improvements, 67% declared their operations could seriously benefit from a complete security overhaul to accommodate IoT.
Furthermore, 64% confessed more cybersecurity skills were needed to deploy IoT solutions, but only 17% of the companies were actively engaged in recruiting high-skilled security expertise,
Overall, just 44% of the surveyed enterprises confirmed investment in new security technologies, despite the growing security threats in the marketplace.
Even so, as more and more mining organisations become aware of new technologies that radically improve the mining supply chain operations, they eventually learn about the critical importance of improving cybersecurity to support these innovations. The future of mining is technology-driven and relies on understanding this phenomenon.
Click here to read the full research.
DecisionInc.Immix’s software provides extensive exploration, Mining, and Mineral Process (xMMP) solutions for key mining requirements, including functionality required for nearly all of the Total Life of Mine (LOM) requirements.
Microsoft Dynamics AX serves as the platform for the xMMP product suite and is a world-class global Enterprise Resource Planning (ERP) solution used by over 20 000 businesses across the globe.