Factors impacting cybersecurity transformation: An Industry 5.0 perspective

Abstract

The gamut of emerging technologies from Industry 4.0 provided businesses with potential opportunities to create new models of products and services. However, the cybersecurity discontinuity of Industry 4.0 is a major challenge for businesses due to enhanced cybersecurity risks and attacks resulting from lack of cybersecurity governance and knowledgeable cybersecurity teams. To overcome the cybersecurity challenges of Industry 4.0, the paradigm of Industry 5.0 is considered by businesses. Hence, businesses require transforming their cybersecurity capability. Therefore, this study is undertaken to empirically investigate the factors impacting cybersecurity transformation of businesses in Industry 5.0. An integrated theoretical framework grounded in multiple cybersecurity determinants is proposed. The primary data were collected from 305 respondents, and the analysis was performed using quantitative methodology. The findings reveal that cybersecurity technology, cybersecurity self-efficacy, and cybersecurity process impact the cybersecurity transformation. Therefore, businesses must have a cybersecurity policy and supporting tools to enable the cybersecurity technology. Moreover, cybersecurity governance along with cybersecurity audit plays a crucial role in enhancing the self-efficacy of the workforce. Additionally, businesses must utilize cybersecurity training and threat awareness initiatives to ensure that the cybersecurity processes are as per expectation for the cybersecurity transformation.