The “Internet of Things” (IoT) is a revolution with the potential to improve industrial and business efficiency, customer satisfaction, and company profitability. But with new technologies come unfamiliar business risks — risks that must be managed and mitigated.
The IoT consists of a wide variety of data collecting and control sensors that are connected to the internet. These include thermometers, cameras, GPS devices, security devices, sensors and a host of other “smart” devices. The applications for IoT in business are rapidly expanding.
As valuable as IoT systems are, they are also vulnerable. When a device is hacked or fails, there’s usually a business — and sometimes a human — cost to pay. Just a few examples are:
Treat IoT devices as you would any other network attached piece of hardware. Conduct regular tests to verify the security of the equipment. And remember that IoT devices could be the weak entry point into your wider network.
Contact a broker today.