The stakes around cybersecurity are increasing—and manufacturers are taking note. The average cost of a data breach in 2024 was $4.88 million — a 10 percent increase over 2023, according to IBM and the Ponemon Institute.
Risk management no longer operates in a silo, with everyone from the C-suite to operations and beyond playing key roles in cybersecurity planning and implementation.
All areas of the enterprise need to ensure systems that process and store valuable data are secure. Training to help employees spot fraudulent emails, calls, and other scams needs to become a higher priority.
And don’t forget about AI. The IBM Institute for Business Value found that only 24 percent of surveyed executives said their current generative AI projects have a security component, even though 82 percent said secure and trustworthy AI is essential.
For more information go to netsuite.com.
