Australia is encountering significant cybersecurity challenges, with the average cost of data breaches escalating to AUD $4.26 million—a 27% increase since 2020, as reported by IBM’s latest Cost of a Data Breach study. This alarming trend highlights a pressing need for businesses and infrastructure providers to fortify their digital defenses in response to a rapidly evolving threat landscape.
Joe Craparotta, Vice President of Cloud & Service Providers for Schneider Electric in the Pacific region, emphasizes the necessity for immediate and decisive action. “This sharp rise makes two things clear: the time to strengthen digital defenses is now, and businesses must act decisively to stay ahead of emerging threats,” he remarked. With global connectivity expanding rapidly—currently boasting 5.45 billion internet users—and forecasts predicting a dramatic increase in Internet of Things (IoT) devices from 18 billion to nearly 40 billion by 2033, enhancing security becomes increasingly critical.
Recent insights from Cybersecurity Ventures project that global data storage will exceed 200 zettabytes by 2025, with around half of this data being stored in the cloud. Such trends are significantly increasing the digital attack surface, calling for more comprehensive cybersecurity measures. As cybercrime wreaked havoc, incurring damages of $8 trillion last year, experts warn that this figure could surge to $10.5 trillion by 2025, driven partly by the accessibility of advanced tools that simplify cyberattacks for individuals lacking technical expertise.
Craparotta cautions that security vulnerabilities associated with artificial intelligence (AI) and machine learning are an ongoing concern for businesses. He notes, “We’re seeing this especially play out regarding outdated firmware. Despite the risks, updates are often postponed due to potential downtime or perceived complexity. Skipping updates, however, opens these systems to substantial threats.”
Craparotta suggests that employing Data Centre Infrastructure Management (DCIM) tools can significantly enhance cyber resilience. He highlights Schneider Electric’s Network Management Card (NMC) as a vital component in safeguarding today’s hybrid digital environments. The NMC facilitates secure remote monitoring and management of uninterrupted power supply (UPS) systems, providing real-time alerts, data logging, and critical firmware updates—essential for maintaining compliance with cybersecurity regulations that are frequently overlooked.
As the landscape of cyber threats expands, advanced visibility solutions provided by DCIM tools like the NMC become increasingly important. “The NMC streamlines firmware management across environments, ensuring that systems remain secure and compliant with global standards, including IEC certification,” explained Craparotta. AI-enabled DCIM tools can also preemptively identify potential vulnerabilities and recommend measures to mitigate risks, which is essential for organizations managing complex on-premises, cloud, and hybrid environments.
Craparotta underscores the crucial need for organizations to invest strategically in secure, standards-based DCIM solutions. With the costs associated with breaches rising and global cyber risks intensifying, collaborating with experienced partners can be an effective strategy for minimizing risk, protecting valuable data, and ensuring operational continuity amidst an ever-evolving digital landscape. Investing in trustworthy, modern infrastructure, coupled with expert collaboration, positions organizations to mitigate risks and maintain resilience in the face of increasing cyber threats.
In analyzing these dynamics through the lens of the MITRE ATT&CK framework, organizations can recognize the potential tactics that adversaries may employ, including initial access via phishing or exploitation of vulnerabilities, persistence through remote access tools, and privilege escalation techniques. Understanding these tactics is essential for implementing comprehensive security measures as cybersecurity incidents continue to challenge enterprises across various sectors.
