Failure to protect IoT is the biggest threat to technology companies

Furthermore, it seems that the Internet of Things, not state-sponsored cyber spies, is what represents the major threat to that information, according to information officers from different companies including Symantec, Cisco, RSA Security.

The so-called Internet of Things is a broad definition for physical objects connected to the internet or able to exchange data. According to statistics, almost 10 billion electronics around the world make up the Internet of Things now and various estimates predict that total will exceed 50 billion objects by 2020.

79% of Americans mentioned they felt ‘confidently safe’ that internet-connected devices in their home are properly secured, according to a study released by the National Cybersecurity Alliance. Thats pretty high, even as one in five American households has been notified that their information was compromised as part of a data breach, the study found.

The Internet of Things (IoT) presents an opportunity for technology developers to build in security from inception. That wasn’t the case when computers first began to dominate the workplace, when they were connected to the internet, or even when mobile devices became essential. Even better motivation for businesses to include security, along with protecting information, is to actually make money from it.

Sven Schrecker, chief architect of IoT security solutions at Intel, stated that the way to protect IoT devices effectively is to protect a device, protect the communications sent between each device and then monitor what happens on each device. By tracking what kind of activity occurs on an IoT device, businesses can find potential flaws in their own products. From there, they can essentially monetize security.