In an era where technology rapidly evolves and the geopolitical landscape remains unpredictable, cybersecurity is a top priority for stakeholders such as CISOs, boards, and regulators. While these developments affect all industries, some industries are in the frontline, such as the semiconductor industry.
The semiconductor industry is poised for continued exponential growth. It operates through intricate supply chain networks characterized by extreme specialization. Moreover, the direct impact of geopolitical shifts and international conflicts on the sector is escalating. These factors collectively heighten the industry's allure as a target for cyberattacks.
Industry's Massive Expansion
The global semiconductor market is on the cusp of extraordinary expansion, with projections suggesting that revenues could surpass US$1 trillion by 2030. Such robust expansion presents significant challenges for the global supply chain. As the industry prepares for a substantial increase in manufacturing capacity and supply chain breadth, the emphasis on innovation and growth becomes a key driver. Across every industry cybersecurity leaders are increasingly expected to transition from a value protection role to one of value creation (Cybersecurity Leadership Insights: mastering complexity | EY - Global).Reconciling cybersecurity with innovation is a critical challenge that must be addressed to ensure safe, secure growth and resilience during times of change.
Organizations striving for security by design, in tandem with the pace of innovation and change, focus on (but are not limited to) the following:
Establishing clear cybersecurity risk management guidelines and baseline standards:
Each alteration in products, processes, or vendors can impact an organization's cybersecurity posture differently. To keep pace with change, it is crucial to have non-negotiable cybersecurity guardrails that are well-understood and accepted across the organization. Market observations indicate that without these established and embraced standards, each change is subject to repeated reassessment, even for essential must-haves (e.g., standard third-party management controls for vendors), which can significantly delay innovation.
Integrating cybersecurity within the broader organization:
Defining clear roles and responsibilities enables organizations to swiftly adapt to changes and innovation. Cybersecurity is a collective responsibility within an organization. Establishing clarity on the cybersecurity roles and responsibilities for each individual (from the board to employees), based on the aforementioned guidelines and standards, facilitates a quicker pace of innovation.
Utilizing automation and technology in cybersecurity practices:
Organizations are increasingly adopting automation and technology, from the first line to the second line (e.g., DevSecOps, SOAR). The goal of this adoption is not only to improve the maturity of cybersecurity practices but also to accelerate the pace of innovation and change.