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The Internet of Things Is Going to Change Everything About Cybersecurity

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The Internet of Things Is Going to Change Everything About Cybersecurity

The Internet of Things Is Going to Change Everything About Cybersecurity

The Internet of Things Is Going to Change Everything About Cybersecurity

Cybersecurity can cause organizational migraines. In 2016, breaches cost businesses nearly $4 billion and exposed an average of 24,000 records per incident. In 2017, the number of breaches is anticipatedto rise by 36%. The constant drumbeat of threats and attacks is becoming so mainstream that businesses are expected to invest more than $93 billion in cyber defenses by 2018. Even Congress is acting more quickly to pass laws that will — hopefully — improve the situation.

Despite increased spending and innovation in the cybersecurity market, there is every indication that the situation will only worsen. The number of unmanaged devices being introduced onto networks daily is increasing by orders of magnitude, with Gartner predicting there will be 20 billion in use by 2020. Traditional security solutions will not be effective in addressing these devices or in protecting them from hackers, which should be a red flag, as attacks on IoT devices were up 280% in the first part of 2017. In fact, Gartneranticipates a third of all attacks will target shadow IT and IoT by 2020.

This new threat landscape is changing the security game. Executives who are preparing to handle future cybersecurity challenges with the same mindset and tools that they’ve been using all along are setting themselves up for continued failure.

The False Panacea of Security Training

There is much debate over the effectiveness of security and awareness training, centered on competing beliefs that humans can either be the most effective or weakest links in security chains. It can’t be denied, however, that in the age of increased social-engineering attacks and unmanaged device usage, reliance on a human-based strategy is questionable at best. This assertion is further substantiated when you consider recent reports put out by security providers like PhishMe showing that 80% of employees who’ve completed training are still susceptible to being phished.

It only took one click on a link that led to the download of malware strains like WannaCry and Petya to set off cascading, global cybersecurity events. This alone should be taken as absolute proof that humans will always represent the soft underbelly of corporate defenses.

Connectivity First, Security Second

Today, connected devices are being used by employees to drive bottom-line activity. Their utility and convenience are giving IoT devices a foothold in the enterprise — in corporate offices, hospitals, power plants, manufacturing facilities and more. We recently found that 82 percent of our enterprise customers have Amazon Echos in use, which are almost always in an executive’s office. These devices, designed to listen and transmit information, may lead to increased productivity, but they also introduce unquantifiable risks. Our own research recently demonstrated that the Amazon Echo is susceptible to airborne attacks. Amazon has patched the vulnerabilities, but this finding demonstrates how easily a compromised device can lead to the leak of confidential information.

The Internet of Things Is Going to Change Everything About Cybersecurity

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Article Credit: HBR

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