Liability for cyber-physical security incidents will pierce the corporate veil to personal liability for 75% of CEOs by 2024, according to Gartner, Inc. Due to the nature of cyber-physical systems (CPSs), incidents can quickly lead to physical harm to people, destruction of property or environmental disasters. Gartner analysts predict that the incidents will rapidly increase in the coming years due to a lack of security focus and spending currently aligning to these assets. Gartner defines CPSs as systems that are engineered to orchestrate sensing, computation, control, networking and analytics to interact with the physical world (including humans). They underpin all connected IT, operational technology (OT) and Internet of Things (IoT) efforts where security considerations span both the cyber and physical worlds, such as asset-intensive, critical infrastructure and clinical healthcare environments. “Regulators and governments will react promptly to an increase in serious incidents resulting from failure to secure CPSs, drastically increasing rules and regulations governing them,” said Katell Thielemann, research vice president at Gartner. “In the U.S., the FBI, NSA and Cybersecurity and Infrastructure Security Agency (CISA) have already increased the frequency and details provided around threats to critical infrastructure-related systems, most of which are owned by private industry. Soon, CEOs won’t be able to plead ignorance or retreat behind insurance policies.” Gartner predicts that the financial impact of CPS attacks resulting in fatal casualties will reach over $50 billion by 2023. Even without taking the actual value of a human life into the equation, the costs for organisations in terms of compensation, litigation, insurance, regulatory fines and reputation loss will be significant.
You have reached your limit for free articles this month.
To get full access, please subscribe.
Already have an account ? Sign in
Show Less Plan
Subscription Benefits Include
Today’s Paper
Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.
Faster pages
Move smoothly between articles as our pages load instantly.
Unlimited Access
Enjoy reading as many articles as you wish without any limitations.
Dashboard
A one-stop-shop for seeing the latest updates, and managing your preferences.
Personalised recommendations
A select list of articles that match your interests and tastes.
Briefing
We brief you on the latest and most important developments, three times a day.
*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.
A letter from the Editor
Dear subscriber,Thank you!Your support for our journalism is invaluable. It’s a support for truth and fairness in journalism. It has helped us keep apace with events and happenings.The Hindu has always stood for journalism that is in the public interest. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. As a subscriber, you are not only a beneficiary of our work but also its enabler.We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda.Suresh Nambath