If the IoT is something you see as a future rather than present concern, consider this: the IoT could have $4 trillion to $11 trillion a year in economic impact by 2025.
Today more than ever, businesses need a solid cyber security solution. One reason cyber security is becoming a larger issue for businesses because of the significant risk created by the Internet of Things (IoT). Despite rapid growth of the IoT, many small and midsize businesses have not given much thought to the impact it will have on their business.
As more devices are connected to the Internet, the threat to business networks also increases. Even if your business has chosen not to invest in the IoT, your employees and customers have probably already done so through smart watches, smart TVs, security cameras, etc. Hackers can gain access to a business networks through these unsecured Internet connected devices, putting both personal and business data at risk.
How Serious is the IoT Threat?
Channel Partners recently distributed a report about 2018 IT security trends, which pointed to the IoT as a major threat over the next few years.
“The adoption rate of IoT has more than doubled in recent years, but many people do not know or realize that these devices are often insecure by design and offer many opportunities for attackers,” said Brian Teater, an IT manager with EXP.com.
“There will be an increasing lack of transparency in the rapidly evolving IoT ecosystem, with vague terms and conditions that allow organizations to use personal data in ways customers did not intend. It will be problematic for organizations to know what information is leaving their networks or what data is being secretly captured and transmitted by devices such as smartphones and smart TVs,” warned Teater.
How Might Your Business Benefit From the IoT?
It’s not all bad news when it comes to the IoT. The technology has the potential to bring many benefits to small and midsize businesses that can successfully leverage it and manage the security concerns it presents. Here are some examples of business applications of the IoT that are benefiting organizations of all sizes.
- Environmental sensors such as Nest and Phillips Hue that adjust heating, cooling and lighting to reduce operating costs.
- Food spoilage that can text a restaurant manager if a freezer’s temperature drops below a certain level
- Electrodes in the health care system that can measure signals such as brain waves and electrocardiograms without interfering with or restricting patient activity
- Connected vending machines that accept mobile wallets
The possible applications of the IoT are endless, and growing as more and more companies find ways to connect technological devices.
How to Prepare Your Business
Proactive and reactive security is the first step for the eventuality of IoT mobile device proliferation. Reactive security solutions like anti-virus and anti-malware, or even network firewalls, are not enough. Worldwide IoT security spending will top $1.5 billion by the end of this year.
Managing threats from the IoT can be part of a managed security program, such as the Complete Security offering from Tolar Systems. The full suite of security tools and applications provides security awareness training, domain name system (DNS) filtering and compliance. Compliance is extremely important for organizations in highly regulated industries such as healthcare, financial services, and others.
Tolar Systems Cybersecurity Solution
Complete Security from Tolar Systems is cloud-based, managed security that delivers peace of mind and a competitive advantage for your business. Complete Security goes beyond threat response; it is a complete, proactive protection package including dark web monitoring, password management, penetration testing to uncover vulnerabilities and provides layered security for your business. It manages security at all your organization’s endpoints – including IoT devices – to proactively prevent and reduce the potential damage of a cyberattack or data breach.
Contact Tolar Systems if you are looking for a complete solution for both IT support and cyber security.
