IT cycles occur every three to five years and innovation is key; industrial infrastructure life cycles — such as those in oil and gas — are much longer, and revenue is king, according to Edgard Capdevielle, CEO of industrial cyber security company Nozomi Networks. Essentially, companies are saying: Why risk upsetting operational reliability and uptime by updating our cybersecurity? Sensitivity to commodity prices is another factor. “Currently regulation is very light, so without a vision or commitment, you won’t have much investment in this area until commodity prices have fully recovered,” he said.

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