IoT, or the Internet of Things, continues to impact every aspect of life and business. Correspondingly, more sensors, software, and other forms of technology than ever now connect “things” to the internet and exchange data.
Of course, we all know these “Things” connect automobiles, appliances, EV chargers, and smart devices in our homes to the internet. However, enterprise utilizes IoT on a much grander scale due to its’ cost-effectiveness, responsiveness, efficiency, and scalability.
IoT Devices are More Common Than Computers
According to a recent Forrester study, almost three-quarters of enterprises have more IoT devices on their networks than computers.
For example, manufacturers use the IoT to automate production-line monitoring. Moreover, transportation and logistics systems use real-time incoming data to automatically reroute efforts to negate delays. Finally, retail uses it to improve the customer experience and overcome buyer friction points.
Additionally, the number of devices and data generated is expected to increase. IDC estimates by 2025 almost 56 billion IoT devices will generate nearly 80 zettabytes of data.
Botnets Pose a Significant Threat
Presently, botnet attacks pose a serious cybersecurity challenge to the Internet of Things. Further, this threat continues to grow. Attacks increased 41% in the first half of 2021 alone.
Additionally, the mobile share of the market is on an upswing. In 2021, 75% of transactions took place on mobile devices. Undoubtedly, companies must prioritise the digital customer experience to compete and increase revenues. However, this also leads to more opportunities for cybercrime.
Unfortunately, the Forrester study shows 67% of enterprises already experienced an IoT security incident. Further, very few enterprise security managers have adequate IoT device visibility (16%). Both these scenarios are avoidable through innovation.
Many IoT Devices Unprotected
Every country, sector, and business, regardless of size, listed cybercrime as their number one threat in 2022. Still, Kaspersky suggests 43 percent of businesses do not completely protect their IoT stack.
Clearly, business realizes it is vitally important they upgrade their cybersecurity but they still haven’t. This could potentially be due to:
- compatibility issues due to IoT system and device diversity
- uncertainty due to possible adverse effects of cyber protection on IoT performance
- potentially high costs associated with cybersecurity implementation
- lack of expertise or human resources
- inability to justify cybersecurity budget
Luckily, cybersecurity experts know all these issues can be overcome, including calculating the ROI of cybersecurity. As for the remaining reasons for reluctance, the right innovative solutions can solve these challenges.
Innovation Key to IoT Security
Clearly, innovative new technologies must be developed or revealed to safeguard the IoT’s potential from misuse. Furthermore, organisations must find solutions that increase IoT visibility to proactively deal with issues.
Unfortunately, many organisations struggle to plot a roadmap towards innovation. Alternatively, they may not have in-house skills and resources to tackle the job. Cybersecurity is an ongoing process that requires targeted, expert advice and actionable, agile solutions.
Fortunately, EarlyBirds offers many resources to help organisations reach their business goals, increase IoT visibility, and protect their IoT stack as threats increase.
Cybersecurity Innovation Map
EarlyBirds released their Cybersecurity Innovation Map in 2021. It was meant to provide self-learning organisations with an overview of discoverable global Innovators.
Originally, the innovation map had tens of thousands of cybersecurity innovations from early stage to mature. Today, aggregated, actionable data on almost 100,000 groups allows those looking to innovate to engage and collaborate, if they wish.
Data can be quickly analysed for identifying solutions to resolve business or technical challenges or to move to a new way of delivering outcomes. Searches are available using the following categories, and more:
- Endpoint Security
- Network Security
- Data Security
- Surveillance & Safety Requirement
- GRC & Security by Design
- Identity Access Management
- Threat Intelligence
- Cloud Security
- Vulnerability Assessment & Penetration Testing
- Website Security
- Security Analytics
- IOT Security
- Accelerators
- Investors
EarlyBirds Innovation Ecosystem
The EarlyBirds Innovation Ecosystem is a Business-to-Business portal connecting Innovators, Early Adopters, and Subject Matter Experts. Early Adopters are leaders or influencers in an organisation eager to identify new and disruptive technologies. They want to seize opportunities, solve business challenges, or create new products and services.
The Ecosystem has a data pool of over 4 million global innovations that may already address your IoT security challenges. Alternatively, organisations can list their challenges and request cybersecurity solutions from innovators.
EarlyBirds Explorer Program
The Explorer Program is tailored towards those who need innovation as a service to supplement existing innovation programs, or to conduct innovation projects when required.
EarlyBirds Challenger Program
The Challenger Program focuses on a single organisational or technical challenge. It looks for the most relevant innovators that meet your organisational, technical, and risk requirements.
The program is run by an EarlyBirds Subject Matter Expert who collects your organisational requirements. The SME then searches the data pool to identify and curate options for further evaluation. The most suitable option is chosen and the SME drafts a roadmap of next steps, POC, trial, or implementation.
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EarlyBirds can provide direction and expertise if your organisation needs to improve IoT security. We can find innovative solutions and connect your organisation to appropriate disruptive technology. Let us help you plot a cybersecurity roadmap to reach your organisational goals.
We help organisations find direction and accelerate their innovation, both within their silo and through external collaboration. Our expertise in cybersecurity extends to many sectors including Operations & Maintenance, Energy, Education, Healthcare, the Public Sector, and more.
Register at https://earlybirds.io/, or contact us to discuss your needs.