IoT will fail if security has no context - IoT global network

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IoT will fail if security has no context

February 22, 2016

Posted by: George Malim

Neil Chapman, ForgeRock

The Internet of things (IoT) has everyone giddy, writes Neil Chapman, the senior vice president and managing director for EMEA/International at ForgeRock.

You can record shows with your phone that you forgot to set on your digital TV box before you left the house. You can unlock your house without a key or turn on your lights before you get home. You can turn on the heater remotely so it’s warm before you step in the door. Much more is to come; there’s buzz about the connected car, healthcare devices, and the endless possibilities. Analysts at IDC predict IoT spending will exceed $7.3 trillion by 2017. While this is great for improving the consumer experience, a dark shadow lurks behind it all: concerns about privacy and security.

It’s no surprise the IoT is leading to a new category of cybercrime. The smart LED light bulbs that leaked Wi-Fi passwords are one such example. What does a hack of such a device mean? We haven’t seen one with devastating consequences – yet. But even relatively minor hacks can cause inconvenience for the user. Worse, these vulnerabilities break the customers’ trust and tarnish a company’s brand reputation, which can irreparably damage its business.

Identifying who’s who and what’s what has never been so complex. It’s not just about protecting IoT devices but the entire ecosystem, from the customer to the partner, the web page, the mobile device, the mobile app, the cloud and everything else in between. Static and portable devices need to communicate with each other, and human-to-machine and machine-to-machine identification and interaction must be taken into account. Without the right model in place, your organisation could be at risk of making your data – and your customers’ – openly available to cyber attacks.

The IoT requires a new way of thinking and acting, one that will protect a business and help it grow. To ensure security in the era of IoT, I’d recommend organisations consider the following:

Savvy organisations will go to great lengths to protect their customers. We’ve all seen the negative impact mega data-breaches have. Being smart about security not only helps the CEO keep their job, it helps to protect the brand and provides an opportunity to turn the cost of IoT security on its head by using it to provide new and valuable avenues for future growth. According to a recent Gartner report, CEOs list growth among their top three business priorities and are investing heavily in digital businesses to achieve this goal. IoT will surely play a significant role in achieving this growth, but if it is implemented without proper security, CEOs will fail before they have a chance to succeed.