Keeping up with our increasingly digital world can be taxing, as with security risks on the Internet of Things (IoT). Quoting the global consulting firm McKinsey, the Security Ledger blog advises that “More than three-quarters of managers surveyed said Internet of Things security is a top priority but just 16% said their company was ‘well prepared’ to address IoT security risks.”
“With the IoT, the Security Ledger explains, “security challenges move from a company’s traditional IT infrastructure into its connected products in the field. And these challenges remain an issue through the entire product life cycle, long after products have been sold. What’s more, industrial IoT, or Industry 4.0, means that security becomes a pervasive issue in production as well. Cyberthreats in the world of IoT can have consequences beyond compromised customer privacy. Critical equipment, such as pacemakers and entire manufacturing plants, is now vulnerable—meaning that customer health and a company’s total production capability are at risk.”
Thus, most firms need cyber security expertise, but many still don’t recognize that as today’s reality.