Executives worried about security and interoperability are unsure of the economic rewards relative to the risks of implementing IoT solutions.
Consumer-facing use cases, in particular, raise additional privacy and security concerns. IoT providers (of hardware infrastructure, software, communications and devices) have yet to articulate compelling propositions for how IoT solutions can drive lasting economic value for the enterprise.
Instead, many vendors focus on selling technology to the CIO—without a comprehensive vision of how it will translate into returns for the business. There is a largely unexplored opportunity for IoT providers who can broaden the sales horizon to encompass the CEO, CMO, CFO, compliance and risk officers and even major line managers. As machines and objects become more intelligent, armed with enhanced analytics, context awareness and predictive decision-making, they will be able to act in ways that benefit individuals and the larger system.
The IoT introduces a wide range of new security risks and challenges to the IoT devices themselves, their platforms and operating systems, their communications, and even the systems to which they’re connected.
Security technologies will be required to protect IoT devices and platforms from both information attacks and physical tampering, to encrypt their communications, and to address new challenges such as impersonating “things” or denial-of-sleep attacks that drain batteries.
IoT security will be complicated by the fact that many “things” use simple processors and operating systems that may not support sophisticated security approaches.
Security, privacy and public safety.
The proliferation of IoT devices is attracting attackers and malware, with the always on, always connected characteristics of these devices making them perfect targets. The potential for disaster looms even greater, threatening widespread catastrophe and loss of life, as cyber criminals attempt to exploit connected automobiles or personal medical devices. Security must span the entire infrastructure to assure the safety of physical systems, both individual devices that comprise an IoT network and, through intelligent monitoring and management, the entire network.