November - 2016 - issue > CXO Insights
IoT: Shall We Feel Blessed or Scared?
May Wang, Co-Founder & CTO, ZingBox
In the U.S., October is National Cyber security Awareness Month. The increasingly connected world is bringing more efficiency and convenience to our lives and work, in the meanwhile increasing security risk surface. This worldwide issue is relevant to everybody on the planet. Shall we feel blessed about the future of the connected world, or scared because of more security risks?
The use of Internet (connected) devices is expanding, offering up even more potential targets for cyber attackers. Futurists anticipate that one day every kind of appliance or device will be ‘smart’ and accessible via the Internet. In fact, Gartner, foresees that by the year 2020, over 25 billion connected devices will be in use. All these connected assets will have the specific hardware, software, and IP addresses to make it possible for you to interact with them via the Internet, even though you may be on the other side of the globe. Welcome to the world of the Internet of Things (IoT).
Cybercrime is already big business and its growing non-stop. Experts predict that by 2019, cybercrime will cost organizations a total of over $2 trillion. Can IoT devices be secured? Do we need new security solutions?
If it is Online, It Can Be Hacked
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