In my last blogs, I’ve talked about the technology advancement in medical and automotive industry, its benefits and as well the potential issues. That advancements are already here and it’s not going stop, more and more devices will be networked and connected to the internet. The advent of Internet connected devices – sometimes referred to as the “Internet of Things” or (IoT) will bring about a “data democratization” that will upend traditional Information security models and pose considerable risks for organizations and individual. We foresee a very chaotic transition to “data democratization” in which “data will be shared more widely than ever, in real time.”
Considering that, we need to re-think our Information security program and strategy, risk management strategy, security technologies, and business models. Like all major transformation or change to the business environment, the transition to an Internet of Things from an Internet of machines also has a tremendous up side. In just one example, IoT innovations will enable huge productivity increases and cost savings in areas like critical infrastructure.
We can definitely ask the ultimate question: Will the IoT change business in the next 3 to 5 years? Let’s not make any prediction here but use what we’ve learned from blogs The Future of Technology, Privacy, Security and Risks — i believe that IoT products are here now, but rather based on the fact that I believe the Internet of Things is going to change business at a fundamental level. I believe there are three key ways in which the Internet of Things will change every business:
- It allow businesses to make smarter products
- It allow smarter business operations and smarter decisions
- Re-thinking the old business model or creating new business model
Even “Gartner says that IoT will change Cybersecurity forever”, but no doubt that IoT is a fast-emerging ecosystem of network-connected devices with the potential to deliver significant business benefits valued at hundreds of billions if not trillions of dollars in the coming decade across industries. Organizations can leverage IoT to drive considerable cost savings by improving employee productivity, improving asset utilization, and enhancing process efficiency. More importantly, IoT-driven innovations are expected to increase return on R&D investments, reduce time to market, and open up additional sources of revenue from new business models and opportunities. The IoT is brought about by a combination of forces, including the a confluence of low-cost technologies (sensors, wireless networks, and computing power), exponential growth of smart devices, pervasive connectivity). Even though IoT offers huge value potential, organizations must overcome major challenges, such as:
- Inter-operable technologies;
- IoT Standards and framework;
- Data and information management issues;
- Privacy and security concerns; and
- Skills to manage IoT’s growing complexity.
Furthermore, managing the new IoT ecosystem, the myriad technologies that underlie it, and the volume data it produces or generates – not to mention developing use cases to improve business. This basically will need to hire, recruit and train skilled workers, which is really in short supply. Because IoT ecosystems include numerous and myriad technologies and devices running on different networks, organizations will need to partner with third-party specialists or seek capable vendor to complement their in-house capabilities. These partner organizations, as shown in EDC report below, should be evaluated on their strength of expertise, industry knowledge and ability to address the complexity of connecting a wide array of technologies and platforms on which the devices will run.
According to Evans Data Corporation (EDC) — 79% of Internet of Things (IoT) app developers spend at least 25% of their time with analytics or databases, and 42% work on Big Data or advanced analytics projects. 55% of IoT developers primarily connect devices through the Cloud, with 32% connecting through a hub or middle tier. 26% of IoT developers most associate cloud computing with the Internet of Things and are 3X more likely to use the Cloud as a development environment. Additionally, EDC key take-aways — 26% of Asia Pacific and 23% of North American app developers are actively working on IoT projects today. An additional 26% of Asia Pacific app developers are planning to develop IoT applications. The Asia Pacific region is a strong catalyst of IoT research and development globally, with Samsung, Fujitsu and many other leading technology companies based there. EDC found that this region is growing quickly due to developers being involved with the Sensing China Initiative and the partnership China has with the European Union to create fifteen smart cities. India and South Korea’s partnership to bring IoT to the former nation is also reflected in the following distribution of IoT development activity:
The state of IoT remains fluid. However, the forces driving it are gaining momentum. Winning organizations will be those that master and hone the ability to manage a pervasive, IP-aware infrastructure for a diversity of devices and sensors. All these connected things combined with cloud and mobile devices, will bring on a new kind of society. A connected society. What will the impact in our daily lives? Here few examples:
- Smartphones are able to connect to the Internet, household appliances, personal computers, and personal vehicles, many times controlling these items remotely.
- Vehicle-to-Vehicle (V2V) Communication allows the exchange of data between nearby vehicles. The Department of Transportation states that V2V communication will lead to “significant safety improvements..that can help drivers in preventing 76 percent of the crashes on the roadway.”
- The term “Smart Grid” encompasses a host of inter-related technologies rapidly moving into public use to reduce or better manage electricity consumption. Smart grid systems may be designed to allow electricity service providers, users, or third party electricity usage management service providers to monitor and control electricity use. Privacy implications for smart grid technology deployment centers on the collection, retention, sharing, or reuse of electricity consumption information on people, homes, or offices.
- Automobiles are integrating computing technology that enhance the ability of others to collect location and operation data in near real time. In the data driven economy, this data is of value.
- GPS capabilities in vehicles mean that the location of the vehicle is recorded at all times, leading monitoring of cars and collection of all location data.
- Smarthome connectivity is when one’s appliances, such as an oven, security system, or lights, are connected to one’s smart phone through the Internet. The owner of these smarthome devices is able to control them remotely through his or her smart phone.
- Medical and fitness devices can monitor one’s health and track changes and physical activity. These devices can be connected to a person’s smart phone or laptop for data aggregation and tracking.
- to be continued…