With the data being omnipresent and the ubiquity of IoT devices, the Internet of Things is going to be “big technology revolution” in upcoming years. According to the Business Insider, there will be nearly 24 billion IoT devices connected to the Internet. The same report considers Internet of Things as the largest device market which has the potential to add $1.7 trillion to the global economy in 2019. Internet of Things has been encouraging safety, efficiency, productivity, and comfort in businesses.
Amidst these benefits of IOT, we must not forget the risks, especially associated with security and identity. They can be the most powerful weapons in launching cyber-attacks.
Every day, the major news stories highlight company’s data being hacked, stolen identities and even app connected cars are stolen. So, you can easily imagine that how risky these digitally connected things can be.
For example, many organizations fall prey to the cybercrime easily just because their WiFi passwords are weak. Apart from that, the connected device lacks firmware updates and support from manufacturers, making it vulnerable to the hackers. Even a bit access to hacker can put your device and home security to the risk.
Speaking on the risky side of IOT, Frank Wiener, VP of Wedge Network says that there is a need to address the security aspects to get the maximum of IOT devices.