Cybersecurity can cause organizational migraines. In 2016, breaches cost businesses nearly $4 billion and exposed an average of 24,000 records per incident. In 2017, the number of breaches is anticipated to rise by 36%. The constant drumbeat of threats and attacks is becoming so mainstream that businesses are expected to invest more than $93 billion in cyber defenses by 2018. Even Congress is acting more quickly to pass laws that will — hopefully — improve the situation.

Despite increased spending and innovation in the cybersecurity market, there is every indication that the situation will only worsen. The number of unmanaged devices being introduced onto networks daily is increasing by orders of magnitude, with Gartner predicting there will be 20 billion in use by 2020. Traditional security solutions will not be effective in addressing these devices or in protecting them from hackers, which should be a red flag, as attacks on IoT devices were up 280% in the first part of 2017. In fact, Gartner anticipates a third of all attacks will target shadow IT and IoT by 2020.

Source: The Internet of Things Is Going to Change Everything About Cybersecurity | HBR

The numbers in Gartner’s 2017 Internet of Things market forecast — which predicted that by the end of the year there would be 8.4 billion connected things in use worldwide, with businesses accounting for 3.1 billion of them — suggest that the market is humming along. Businesses are on track to spend $964 billion this year on IoT hardware and another $273 billion on services.

However, a recent IoT survey from Cisco Systems indicates that businesses looking to profit from the connected future face significant hurdles. As Cisco notes in a statement, “The survey results show that, while most consumers believe IoT services deliver significant value for them, very few understand or trust how their IoT data is being managed and used.”

Connecting large amounts of devices to the internet is not the only way businesses should measure success in the IoT realm, the survey suggests. Consumer sentiment plays a big role as well, and that’s where the IoT market is facing a conundrum. Consumers are aware of IoT and feel that it brings value to their lives, but they do not trust it. Cisco terms this the “value/trust paradox.”

Source: How Businesses Can Solve the Internet of Things’ ‘Value/Trust Paradox’ | BizTech

Cybersecurity can cause organizational migraines. In 2016, breaches cost businesses nearly $4 billion and exposed an average of 24,000 records per incident. In 2017, the number of breaches is anticipated to rise by 36%. The constant drumbeat of threats and attacks is becoming so mainstream that businesses are expected to invest more than $93 billion in cyber defenses by 2018. Even Congress is acting more quickly to pass laws that will — hopefully — improve the situation.

Source: The Internet of Things Is Going to Change Everything About Cybersecurity | Harvard Business Review

In the past few years, developments in technology have brought us closer to the hyper-connected world that futurologists imagined in the 1950s. Self-driving cars, computers that can converse in real-time and hyperloop transportation are among the developments that will shape our future beyond what we thought possible.

Of all the major trends, the Internet-of-Things (IoT) is making the most visible and immediate impact and will be worth $270 bln by 2020. Connected devices, homes and vehicles are just around the corner, and as anyone with experience in the technology industry knows, this means a lot of second-order complexity will have to be solved. Economies, platforms and payment systems will have to be integrated.

Source: Securing the Internet-of-Things with Blockchain | Cointelegraph

Earlier this May I wrote that, following a year where the internet of things found the mainstream, 2017 would be the year for IoT acceptance, appetite and evolution. Key trends highlighted in the article, like security, strategic partnering and public sector uptake, were all central to the Internet of Things World 2017 agenda; three themes covered by FBI CISO Arlette Hart (among others) in her keynote panel session and subsequent interview.

Source: IoT data and AI will define the next generation of business | IoT Agenda

Software development programs that implement the internet of things today have to include measures to protect privacy and strengthen security as data becomes more and more accessible via the internet and connected devices. When it comes to IoT privacy, courts have to resort to the U.K. Consumer Protection Act 1987, ad and anti-surveillance laws established to counter the inferior security practices of manufacturers. The legislation simply has not been able to keep up with technology innovation, and thus, cases are being bent to fit current existing laws.

Source: Regulation for IoT security and data privacy | IoT Agenda

The proliferation of Internet of Things (IoT) devices is continuing to increase, which is great for innovation in the smart home, smart city and smart thing business. But it can also deal a double blow to cybersecurity.

Hasty development, coupled with ever-more ubiquitous connected things, is a bad combination. Carelessly “secured” systems will face more cyber threats than ever before.

“The cybersecurity risk is greater each day,” says Neil Lakomiak, director of business development and innovation for UL, the 124-year-old testing and certification lab. “The more connected devices connected to the internet and connected to a broader network, the greater the attack vector in general for everything. Each time you connect a device to a network and the internet, you now have another way to compromise that overall system.It’s another entry point for a bad actor to do bad things. That is the real risk. That’s the real concern.”

Source: Cybersecurity Conundrum: Who’s Responsible When Rogue IoT Device Brings Down Network? -|Security Sales & Integration

Cisco CTO Kevin Bloch has revealed that 75 percent of all IoT projects are failing due to segmentation and a lack of experience by companies developing them, with Bloch also emphasising the importance of cybersecurity for IoT.

Source: Cisco: Most IoT projects are failing due to lack of experience and security | ZDNet

The industrial internet of things market is exploding. As a matter of fact, Gartner predicts it’s on pace to reach $80 billion by the end of 2017. Much of this growth is fueled by the promise of what IoT can ultimately deliver with the integration of machine learning and AI technology. And the progress toward this end goal can be seen all around; businesses everywhere are using IoT platforms to gather key equipment data, analyze it and automate the delivery of that logic back to edge devices in a self-servicing and self-maintaining technology ecosystem. This level of automation has many in the industry warning that machines will rise up, though, or as Elon Musk put it, “that building a general AI will summon the devil.”

Source: Three ways humans power the industrial internet of things | IoT Agenda

Gartner predicts that by the end of 2017, we will see 8.4 billion connected devices in use worldwide. Security experts predicted a rise in IoT security breaches this year, making it extremely important for manufacturers to ensure devices are secure, and for enterprise and consumer users to have security protocols in place.

• 90% of companies expect to see the volume of connected devices in the workplace increase in the next few years. -ForeScout, 2017
• 77% of companies say increased use of connected devices creates significant security challenges. -ForeScout, 2017
• 82% of companies said they are unable to identify all of the devices connected to their network. -ForeScout, 2017

Source: Report: 77% of companies say IoT has created ‘significant’ security gaps | TechRepublic