INDUSTRY INSIGHT
4 ways to minimize IoT cybersecurity risk
Few technology trends are growing as quickly as the internet of things. According to Bain & Company, the markets for IoT hardware, software, systems integration, data and telecom services will grow to $520 billion in 2021, more than double the figure of 2017. The IoT ecosystem has exploded already, thanks to the rapid proliferation of voice assistants, connected appliances (such as smart thermostats and security cameras) and even smart infrastructure. Today, connected devices are integrated into critical systems running air traffic control, energy grids and environmental management.
But the rise of IoT has also been accompanied a spike in cyber attacks, with hackers and other malicious parties seeking to exploit vulnerabilities in devices manufactured with poor security practices. The government is clearly worried: During a Senate hearing last year, the director of the Defense Intelligence Agency stated that insecure IoT devices are one of the “most important emerging cyberthreats” to U.S. national security. In an attempt to address the problem for the federal…
