Monday, 23 April 2018

Unique Security Risks of Iot Platforms

Regulations will get top priority

We are already in 2018, and thereare five most important things that will affect security of IoT platforms. Why will regulations get top priority?  Which are the other core areas that will impact businesses that use this platform? Will devices play a unique role in mitigating risks? There are more questions, and this blog tries to answer these questions and also reveals which IoT trends will need attention from the IT departments. 

Expect more devices to be connected
Milestones achieved with distances

As many companies opt for digital platforms, internet speed makes connection possible on sophisticated devices. As the connectivity options increase, there is more development in Low Power Wide Area Networks (LPWAN) as NB-IoT, Sigfox, or LoRaWAN. Sturdy devices come with longer battery life. In 2017, there were complaints that light devices were not suitable for app development or software adaption. They wore out and were rendered useless when used for long. New devices have better battery life. What’s more the connection in remote regions is also possible across larger distances. This is allowing many companies to begin their long routes towards IoT platforms and also handle risks that come with it. Connectivity will continue to be lined with remote monitoring and storage on cloud or other data servers.

Real time analytics & AI will be popular  

Imagine the usefulness of real time information for logistics, industrial units and manufacturing units and warehousing. Despite distances, data can be collated and worked upon, Decisions can be taken rapidly and communicated via chatbots. Texting will give way to even voicebots.  It will be easy to transfer data and also store it once the communication is over. There was a study done by IDC which revealed that IoT data will be able to be stored and be open for evaluation by 2019. As machine learning trends with AI, the best encounters will be reserved for maintenance and even detection and foiling of cyber attacks. One core area that will be discussed is regulations. It is the single area where IoT platforms will be under observation when it comes to security.

Security trends linked to regulations
Data risks to be covered

As data explosion is inevitable, it will soon need to be regulated. For example if 250 GB data is produced in a single day, how much will be produced in 30 days? To gauge the data reading it will take IT special managers for monitoring. In a year nearly 2 petabytes are produced. Currently, there have been security breaches on social media and this has sharply focused on regulations and self monitoring with exposure to data leaks. If data is not secure it would impact the IoT usage. Data risks of sharing and reaching wrong users is a nightmare as it affects everyone. Governments are now coming into the picture to regulate unauthorized IoT stations. Restricted access is important, for example in the healthcare industry or government machineries where citizen data is required. Those who have the data will need to take responsibility of user information. Several nations are now adding laws and procedures to punish those who use the data without permission.

The areas where regulations can be put:

1.    Stricter rule for privacy-already EU has devised General data protection regulation
2.    Penalties for non-compliances of data protection
3.    Data breech to be punishable
4.    A fine of 4% of a company’s revenue is stipulated by EU
5.    Soon, real time monitoring will be possible to catch wrong usage of data
6.    IoT best practices will be in place for various business processes and IT security divisions
7.    Regulatory environment will also focus on storage, communication of data cyber liabilities, analytical data, and also its distribution

Addressing security concerns with regulatory discipline will change the way data will be saved from ransomeware. Some time back, there was a spotlight on this crucial part when wannacry demanded payment in bitcoins to release the data. Many global enterprises were disrupted by this attack.  This gave rise to DDoS or distributed denial of services to think about. As IoT platforms have to be more useful, it has become mandatory to address this threat. Who wants to be hostage to a well connected hacker or ransomware that bleeds revenues?

It is time to understand every unique risk that may affect the performance of the devices. 

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