IoT

Today, the world is connected through a variety of smart devices that can share, store and analyze data. IoT has been the driving force behind this extensive connectivity. IoT or the Internet of Things is a set of devices that are connected over the internet through a wireless connection and sensors, that collects data, processes them, and stores them. 

A recent report by the World Economic Forum, in collaboration with the Global Internet of Things Council and PwC, tries to explain the state of the current IoT-connected world through surveys and findings. The report aims to make the digital divide, lack of secured IoT, and other IoT-related needs more clear. The excellent benefits of Internet of things are embraced by many industries including, education, agriculture, manufacturing, etc. IoT sensors are the key factor that has enabled precision agriculture. This disruptive technology has made smart cities and smart homes possible through connectivity. The role of Internet of Things in streamlining business workflows, promoting automation, and improving business efficiency is huge. However, there are many significant concerns regarding IoT that need to be addressed.

IoT and Covid-19

Since last year, the world has been fighting an uncertain situation caused by the Covid-19 pandemic. Throughout the unsettling scenario, technology played a pivotal role in aiding the diagnosis, vaccine development, contact tracing, and more. IoT was one of the technologies that helped in healthcare relief and remote medical care. Telehealth is widely accepted today and with Internet of Things it becomes easier to monitor, collect, and share patient data with minimum accuracy and human intervention. Optimizing the vaccine supply chain is another benefit of connected devices. Covid-19 acted as a catalyst for technology adoption across the industries.

Securing IoT and Mitigating Risks

According to the WEF report, “The survey findings indicate that two impact areas in particular – safety and security, and privacy and trust – likely pose the greatest levels of risk, especially in the consumer IoT domain.” While we celebrate the profound implications of IoT, the looming risks and lack of proper governance need to be highlighted too. Covid-19 has made these flaws and threats more prominent by ringing forth the cybersecurity issues. Securing IoT devices is the need of the hour considering the growing number of devices connected to the internet through Internet of Things and sensors. 

These smart devices are vulnerable to attacks since many Internet of Things devices do not include necessary security features. 

Data vulnerability is the prime issue. Do you know how much data we are feeding these smart devices on a daily basis? It is huge. Hence, these IoT-connected systems can pose a threat to privacy. There have been instances of smart speakers and televisions recording conversations and sharing sensitive data. According to a study, 72 Internet of Things devices out of 80, shared information to a third party, outside the manufacturer’s region (First party), as a part of eavesdropping attacks. Internet of Things devices should be secured and governed to avoid these threat exposures and enhance security. Strong encryptions, regular security updates, turning them off when not needed, secured routers and network connections, etc., are some solutions to securing your Internet of Things devices. Manufacturers should also consider incorporating security systems into Internet of Things devices to mitigate the risks. 

The WEF report puts lights on the need for interoperability and unequal access to connected devices, which was highlighted by the pandemic. The pandemic made the digital divide clearly visible since everything was shifted to the internet and people from different parts had accessibility issues. The reach of these IoT smart devices should be increased along with securing it so that a wider population gets to leverage its benefits, since it has great implications in different fields like water treatment, agriculture, weather intelligence, etc. Interoperability is another dimension of Internet of Things that can enhance its efficiency and improve interconnectivity and data exchange in a cost-effective manner. 

IoT has great potential in the present and future. If secured and governed with proper compliance, this disruptive technology can do wonders.