The Internet of Things: Puts You at Ease but with Risks
July 04, 2016 | Internet of Things, Denial-of-Services
Disruptive technologies such as cloud computing, and the internet of things have made our lives at ease, efficient, exciting, and above all, it has spurred innovation. Think about the Internet of Things (IOT). Young tech start-ups have been developing groundbreaking ideas.
From an umbrella that jogs through your memory telling not to leave it behind to an intelligent trashcan that allows to monitor waste collections, our day-to-day life will be through an amazing transformation in the coming years.
Not surprising, the market for the IOTs is expected to boom. According to the McKinsey Global Institute Research, the impact of the IOTs on the global economy could be as high as $6.2 trillion by 2025. That has prompted many companies to invest on the technology. For Instance; South Korea’s leading consumer electronic goods giant, Samsung, is expected to invest $1.2 billion dollars on IOT start-ups and research over the course of next four years.
But do you know IOT devices come with risks? Just like a laptop, or any modern machine which is connected to the cyberspace, they are also vulnerable to bugs, hacking and other forms of security related incidents.
Earlier this year, a Washington based couple was traumatized after their IOT device was hacked. In a story reported by the Wall Street Journal, a three-year old toddler heard petrifying voices during the night that said, “Wake up little boy, daddy’s looking for you”. The same voices were later heard by the kid’s mother. Much to the horror of the family, it was found that the family’s baby monitor was hacked by a stranger.
The incident shows that our IOT devices will be increasingly vulnerable to security challenges. You see any modern technology, be it a driverless automobile or an IOT device, are embedded with software. As a result, these modern machines are exposed to hacking.
Moreover, IOT devices, in particular, contain highly critical data. Therefore, it will entice hackers, which would make these devices more prone to cyberattacks, including denial-of-service (DOS) kind of attacks.
In a nutshell, life will be a lot more comfortable with such machines but vulnerabilities to attacks would also increase. That doesn’t mean we should become a technophobic. All we need is to ensure safety of our devices with a proper IT security system. We need to reinforce our cyber-defenses.
ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behavior Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.
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