Broker Check


August 03, 2021

The Internet of Things, and particularly the Industrial Internet of Things - IIoT - is a critical part of infrastructure today. It is also a major target for hackers.

As posted by Steve King of, an IBM X-Force reported that between 2018 and 2020 threats to industrial control systems and operational technology assets increased 2,000%.

Cyber-Physical Systems - CPS - are responsible for secured operations in plants with critical infrastructure. If these systems are breached, consequences can include malfunctions, property damage, danger to public safety, and death.

Gartner predicts the financial impact of attacks against CPS will reach $50 billion by 2023 - assuming no one dies.

If company executives ignore or underestimate the threats, they are risking OSHA fines and jail time if things go wrong. If Murphy was right, things will go wrong. Judging by recent Biden administration actions, when things go wrong there will be consequences.