Companies Struggle to Adopt IoT Security & Privacy
The internet of things (IoT) is rapidly moving into the mainstream of business, compelling organizations to examine and reexamine the fundamental ways they do business and manage technology. Yet, as technology evolves and expands, and as enterprises rewire and reinvent processes, there's a growing need to focus on security and privacy issues. A newly released PwC study, "Global State of Information Survey 2017, Uncovering the potential of the Internet of Things," examines how organizations are coping with risks and dangers related to IoT security and privacy. "As the IoT moves toward the core of digital business, the integration of security domains—IT, OT [operational technology] and consumer technologies—will likely introduce game-changing hazards," the report noted. "These potential risks include disruption in the information flow among connected devices, physical interference with equipment, impacts on business operations, theft of sensitive information, compromise of personal data, damage to critical infrastructure—and even loss of human life." Significant privacy concerns also surface. "As the internet of things rapidly expands, it is introducing new risks that are not well-understood and could have sweeping implications," said Sean Joyce, PwC U.S. cyber-security and privacy leader. The information in the report is based on responses of more than 10,000 CEOs, CFOs, CIOs, CISOs, CSOs, vice presidents and directors of IT. Here's a look at some of the key findings.