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Six ways CEOs can promote cybersecurity in the IoT age

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Billions of devices are being brought online as the Internet of Things develops, creating new vulnerabilities. Here’s how leaders can regain control.

As digitization has risen on the executive agenda, cyber security skills and processes in most companies have also advanced, though at a slower pace. But rapid growth in the Internet of Things (IoT) is changing the game. Cybersecurity is more relevant and challenging than ever, and companies need to build capabilities in this area—quickly.

IoT holds great potential to help companies improve their products and services or increase production efficiency by harnessing sensors and actuators that seamlessly connect objects to computing systems. No wonder, then, that many companies are bringing more and more devices, products, or production systems online.Conventional estimates suggest we could reach 20 billion to 30 billion connected devices globally by 2020, up from 10 billion to 15 billion devices in 2015. However, as devices proliferate, the security risks will increase sharply. Historically, risking the confidentiality and integrity of information was the prime concern compared with any risk regarding availability.

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Article Credit: McKinsey

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