Every enterprise will be affected by the Internet of Things (IoT), the growing phenomenon by which not only people, but also “things” — vehicles, commercial and industrial equipment, medical devices, remote sensors in natural environments — are linked to networks that are connected to the internet. Expect the impact on your business to be profound.
Just as the consumerization of IT spawned the BYOD (Bring Your Own Device) activity that is severely testing cyber security regimes today, so too will the IoT spawn an outbreak of “data democratization,” where data will be shared more widely than ever, in real time. The IoT will demand another round of risk management strategy review, new network security evaluation tools, and business model revisions. Like all major changes in the commercial environment, this one will create challenges, but also opportunities for firms to benefit from new demands for IoT cybersecurity.