Cybersecurity threats now rank as the second-most serious external risk facing manufacturers globally, trailing only economic conditions, according to new research from industrial automation company Rockwell Automation.

The company's 10th annual State of Smart Manufacturing Report found 30% of manufacturing leaders identified cybersecurity as a top external risk, compared to 34% who cited inflation and economic growth concerns.

The survey of 1,560 manufacturing executives across 17 countries reveals growing alarm about cyber threats as operational technology (OT) systems become increasingly connected to corporate IT networks, expanding potential attack surfaces.

"Cybersecurity is no longer just a technology issue - it's a boardroom issue," said Stephen Ford, vice president and chief information security officer at Rockwell Automation.

"As IT and OT become more connected, the attack surface is expanding."

The research highlights accelerating adoption of artificial intelligence for cybersecurity, with 61% of cybersecurity and IT professionals planning AI and machine learning deployment for security purposes within 12 months. This outpaces general manufacturing AI adoption by 12 percentage points.

Nearly half (48%) of cybersecurity professionals identified securing converging IT/OT architecture as crucial for positive outcomes over five years, compared to 37% across all respondents.

For organisations with revenues exceeding $30 billion, 53% identified cybersecurity practices and standards as extremely important skill sets, compared to 47% of all respondents surveyed.

The findings reflect broader digital transformation challenges facing Australian and New Zealand manufacturers as they balance productivity gains from smart manufacturing technologies against increasing security risks..

Rockwell Automation claims this represents a significant shift in manufacturing priorities.