IoT has become an important part of several businesses across the world for many reasons, including the opportunity that it gives for collecting critical data that can be used to fuel digital transformation across businesses. It is expected that the number of connected devices will be nearly 20 billion by the end of 2020. These connected devices help companies to automate business procedures. However they are difficult to be secured. Thus building an IoT strategy that prioritizes security is of utmost importance for any company.
Business leaders should start looking at IoT security as a whole as it integrates with all aspects of security including physical security, operational technology security, and cybersecurity. It is also crucial to be aware of the unexpected threats by conducting risk assessments, building playbooks and by simulating IoT specific breaches. Workers dealing with the security of a company are required to forecast and then document the IoT security scenarios in the companies as well.
The IoT hardware security must also be taken care of and most importantly the devices must be patchable to stay away from risks. Devices like baby monitors and CCTV cameras cannot push a security patch and many of the manufacturers are now trying to consider patchability of their products. Enterprises should also look at building visibility in their security strategy. This will help them to have a clear view of the devices in their network.
Data also plays an important role in keeping a business safe and secure. Companies should start focusing on data analytics, and not only just on data collection. Companies should have robust intelligence source that can allow companies to quickly respond to threats and help identify potential IoT security events.
Distributed nature and the scale of the IoT device data boost the risk of data breaches and companies should implement new data privacy regulations working with its own legal team.