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A new report by Willis Towers Watson shows that Executives in the transportation industry believe cyber risk and data breaches are the primary risk to the industry. The Transportation Risk Index analyses the top 50 risks facing the sector in terms of “severity of impact” and “ease of management” through qualitative and quantitative interviews with leaders in the world’s largest transportation companies. According to the report, technological advancements such as the Internet of Things (IoT) have made supply chains more interconnected and reliant on technology. Additionally, a partner with weak cybersecurity practices could result in direct repercussions on even the most protected networks. The report also found five “megatrends” the industry is currently seeing:

  • Geopolitical instability and regulatory uncertainty
  • Digital vulnerability and rapid technological advancement
  • Changing market dynamics and business model insecurity
  • Complex operating models in an interconnected world
  • Talent management and the complexities of a global workforce

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