With over 20 billion Internet of Things (IoT) devices predicted to be in existence by 2020, hacker’s globally are seeing a massive expansion in their total addressable market (TAM). Moreover, the time to market (TTM) for new threat vectors (and threat actors) are expected to be rapid. Great! Classic market discontinuity that most product management types would dream of...
So, building upon what we have learnt from decades of cyber security practices implemented by us (Gen X, Y and Z users) on our mission-critical PCs, mobile devices, home networks and personal apps. Let's review a scenario:
1. Let’s buy an Android-based IoT hub
2. Let's make sure that the “headless IoT hub” sits at the edge of our "highly secure" home network with lots of open ports, login credentials that are admin/admin all accessible through our mobile phone with a passcode that is 1234.
3. Let’s then connect this IoT hub to our front door sensor and let's not forget our mobile banking app, so we can order replacement black light bulbs (IoT enabled, of course) and cashew nut milk (scratch that, cashew and almond milk).
Does this ring-a-bell?
At Entreda, we are just happy to have a job and to know that the "culture of compliance" will need to follow this IoT opportunity. With 20 billion IoT devices ready to be connected to the information super highway, cybersecurity risk management is going to have to get a whole lot smarter and predictive.