Siemens will provide its expertise in industrial cybersecurity for Chronicle's Backstory platform to give visibility of threats across information technology (IT) and operational technology (OT).
Backstory is a global cybersecurity telemetry platform for investigation and threat hunting and wil be the backbone for managed service for industrial cyber monitoring, including in both hybrid and cloud environments. This allows energy companies to use cloud services to store and categorize data, while applying analytics, artificial intelligence, and machine learning to OT systems that can identify patterns, anomalies, and cyber threats.
The energy industry has historically been unable to centrally apply analytics to process data streams, cost-effectively store and secure data, and identify malicious threats within OT systems. Research conducted by Siemens and Ponemon Institute found that while 60% of energy companies want to use security analytical data, only 20 percent are using any analytics for security monitoring in the OT environment. Small and medium enterprises are particularly vulnerable to security breaches as they frequently do not have the internal expertise to manage and address increasingly sophisticated attacks.
"The innovative partnership between Siemens and Chronicle demonstrates a new frontier in applying the power of security analytics to critical infrastructure that is increasingly dependent on digital technology," said Leo Simonovich, Vice President and Global Head, Industrial Cyber and Digital Security at Siemens Gas and Power. "Cyber-attacks targeting energy companies have reached unprecedented speeds, and our cutting-edge managed service unlocks the analytics ecosystem offering a new level of protection from potential operational, business and safety losses."
"Energy infrastructure is an obvious example of cyber-attacks affecting the physical world and directly impacting people's lives," said Ansh Patnaik, Chief Product Officer at Chronicle. "Backstory's security telemetry processing capabilities, combined with Siemens' deep expertise, gives customers new options for protecting their operations."