SOFTWARE AND CYBER SECURITY: THE NEW KEYS TO CORPORATE GOVERNANCE IN THE AUTO INDUSTRY
Volkswagen is still reeling from an emissions software scandal that will likely cost billions of dollars, and will have lasting repercussions for Germany’s economy, as well as the global automotive industry. This in the same year that certain Jeep and Fiat models were found to be vulnerable to hackers, meaning their cars could be stopped or controlled remotely, a terrifying prospect for car owners and manufacturers alike. 2015 hasn’t been the best year for the automobile industry, nor the IT and engineering teams programming the tech inside these vehicles, which played a starring role in both stories.
Indeed, with more and more car manufacturers having embarked on digital strategies, IT software is now essential to the way modern cars perform and how they stay on the road. IT compliance and cyber security therefore have become integral to the overall safety and compliance of modern vehicles – completely at odds with how the industry has functioned for the last century. Often focused on health and safety, the environment, and quality controls; product compliance has traditionally been the province of engineers. For car manufacturers today, working closely with IT and security professionals to ensure the integrity and security of their products is now of paramount importance. The compliance scandals we’ve seen this year suggest that there is still a huge disconnect between these teams for many manufacturers.
Jan-Mar 2016 Issue