Facing the Fear and Securing the Internet of Things (IoT)

JENNIFER DEAN | December 11, 2018

article image
It’s official. There are officially more IoT devices than humans in the world. And by 2020, there will be twice as many of them than us. It can be a sobering thought, especially if you’ve ever seen the 1980s Stephen King movie Maximum Overdrive, where the machines came alive and turned homicidal. And according to a recent study by Gemalto, 90% of consumers said they don’t have confidence in IoT security. Furthermore, the study found that only 50% of companies have adopted a “security by design” approach, and more than half of consumers have concerns about their IoT devices being hacked or their data stolen. So maybe I’m not alone in my fears? Even scarier is the fact enterprise security breaches are happening more often, with more brute force and at higher costs. There are an average of thirteen enterprise security breaches every day, resulting in roughly 10 million records lost a day—or 420,000 every hour. Security researchers are quick to point out the vulnerabilities of connected devices and the potential harm of connecting to a device that has not been properly secured.

Spotlight

Experian

Experian unlocks the power of data to create opportunities for consumers, businesses and society. During life’s big moments – from buying a home or car, to sending a child to college, to growing a business exponentially by connecting it with new customers – we empower consumers and our clients to manage data with confidence so they can maximize every opportunity.

OTHER ARTICLES

5 Things to Know About the IoT Platforms Market

Article | June 8, 2021

5 years ago, when we forecasted that the IoT platforms market would have a 5-year compound annual growth rate (CAGR) of 35%, we wondered if our growth projection was unrealistically high. 5 years later, it has become apparent that the forecast was actually too low. The IoT Platforms market between 2015 and 2020 grew to be $800 million larger than we forecasted back in early 2016, resulting in a staggering 48% CAGR. Comparing what we “knew” back in 2016 to what we know today provides some clues as to why the market exceeded expectations so much. 5 years ago, no one really knew what an IoT platform was, let alone how big the market would be, which business models would work, how architectures would evolve, and which companies/industries would adopt them. The only thing that was “known” was that the IoT platforms market was a billion dollar “blue ocean” opportunity ready to be captured by innovative companies.

Read More

Microsoft acquires ReFirm Labs to enhance IoT security

Article | June 2, 2021

Modern computing devices can be thought of as a collection of discrete microprocessors each with a dedicated function like high-speed networking, graphics, Disk I/O, AI, and everything in between. The emergence of the intelligent edge has accelerated the number of these cloud-connected devices that contain multiple specialized sub-processors each with its own firmware layer and often a custom operating system. Many vulnerability analysis and endpoint detection and response (EDR) tools find it challenging to monitor and protect devices at the firmware level, leading to an attractive security gap for attackers to exploit. At the same time, we have also seen growth in the number of attacks against firmware where sensitive information like credentials and encryption keys are stored in memory. A recent survey commissioned by Microsoft of 1,000 security decision-makers found that 83 percent had experienced some level of firmware security incident, but only 29 percent are allocating resources to protect that critical layer. And according to March 2021 data from the National Vulnerability Database included in a presentation from the Department of Homeland Security’s Cybersecurity and Infrastructure Agency (CISA) at the 2021 RSA, difficult-to-patch firmware attacks are continuing to rise. Microsoft’s Azure Defender for IoT team (formerly CyberX) recently announced alongside the Department of Homeland Security a series of more than 25 critical severity vulnerabilities in IoT and OT devices

Read More

What Is IoT Forensics? Challenges Ahead and Best Tools to Use

Article | May 24, 2021

Internet of Things, generally known as IoT, is a network of objects or things. Embedded sensors help connect and exchange data with other objects via the internet. IoT is often related to the concept of smart homes, including devices like home security systems, cameras, lighting, refrigerators, etc. With all this data being transmitted over the internet, it is easy for the data to be modified, deleted, or stolen, which can lead to an invasion, theft, etc. IoT forensics plays a vital role in maintaining the integrity and security of the data being transmitted. Join us as we explore this fascinating web of devices and how you can get started in this vibrant field of forensics.

Read More

Driving Rapid and Continuous Value for IoT Through an Ecosystem Approach

Article | May 19, 2021

In the wake of the COVID-19 pandemic, manufacturing is roaring back to life, and with it comes a renewed focus on Digital Transformation initiatives. The industry stands on the doorstep of its much-anticipated renaissance, and it’s clear that manufacturing leaders need to not only embrace but accelerate innovation while managing critical processes like increasing capacity while maintaining product quality. Effective collaboration will be key to doing both well, but it’s even more critical as workforces have gone and are still largely remote. As the virus swept the globe, it became apparent quickly that there would be winners and losers. Many manufacturers were caught off-guard, so to speak. Before manufacturing’s aforementioned reckoning, the industry had already been notorious for its slow adoption of the digital, data-centric mindset that has transformed other industries.

Read More

Spotlight

Experian

Experian unlocks the power of data to create opportunities for consumers, businesses and society. During life’s big moments – from buying a home or car, to sending a child to college, to growing a business exponentially by connecting it with new customers – we empower consumers and our clients to manage data with confidence so they can maximize every opportunity.

Events