'The Great IoT Bake Off'

Their primary concern is getting products to market and it’s the consumer who ends up falling victim to cyber crime. As with all innovative technology, security will eventually become more of a priority, but it may well be too late for this generation of IoT users.

Selling cyber secure IoT products
Already, the first major cyber attack using millions of IoT products has occurred. For companies whose products were hacked it’s likely to cause a drop in sales. But, many companies and products were not named. As new manufacturers enter the market, a few will see cyber security as a unique selling point. Consumers will be able to choose based on security features, selecting the device that will keep their identity, financial or medical data safe from prying eyes. Companies that don’t prioritise security may find themselves losing ground to ones that do.

Is the tech industry making IOT safer?
Consumers are currently buying innovative technology without considering the security of the products. The latest and greatest tend to drive consumers caught up in all the wondrous things technology can do, but much of this is driven by manufacturers and their marketing teams. While consumers continue to buy insecure products, there isn’t a demand for security or to invest resources into its development. As such, awareness is key. Consumers must be made aware of the risks they are taking when buying IoT goods – and the need for 'baked-in' security from the get-go.

Are new regulations and legislation necessary to increase IoT security?
Some security experts espouse the need for new regulations focused on the production of IoT products and standards related to cybersecurity protection. There is also the 'elephant in the room issue': liability – and who is responsible when data loss occurs with IoT products.

Ultimately, manufactures must provide secure products
Until secure device interoperability is agreed on, industry adopted protocols are the standard, and some security is built into the creation of every product. That’s the broad objective of groups such as the Allseen Alliance, which is raising security awareness with industry, developers and consumers.