Invest in IoT Without Insecurity
Recently, I attended the Cloud and IoT Expo in NYC (June 7-9) and I found the content to be interesting and thoughtful for companies that are planning their future success.
Like most conferences, there was a lot of chatter about IoT app development, consumer trends, and security with a smattering of privacy concerns. More interesting to me were the sessions on identifying how to develop new lines of business and how non-IT businesses may actually benefit the most from IoT. The majority of the work today in IoT is occurring in transportation, infrastructure, and environmental scenarios. In these areas the marketing aspects of IoT are an important “pillar” to the success of IoT in a “big data” way.
With all of the Internet-connected devices, sensors and appliances, many industries need to address serious concerns about privacy and intellectual property protection. According to the latest public statements, the FTC believes that general authorities used to protect data privacy can cover IoT without specific new laws. Information security compliance programs such as FedRAMP and the NIST Cybersecurity Framework can help. Other known FTC regulatory findings such as the Wyndham case can offer partial guidance for the IoT and cloud markets.
Although it is still too early for any additional regulations, it is important for organizations to balance their IoT strategy with existing security and privacy standards.
IoT in Focus
Key takeaways from the Cloud and IoT conference:
- Successful IoT strategies are built on a digital foundation that rethinks security from the perspective of how the organization is monetizing the sensor data.
- Digital foundations need to address data migration and data management across multi-vendor platforms for both cost reduction and cyber protection.
- Cyber security and privacy strategies may need to address risk and liability issues related to the re-use and / or sale of pre-existing sensors or established sensor data.
- Mobile use and mobile marketing should be tied to the monetization of IoT.
IoT Could Change The Security Paradigm
The implications of IoT extend to privacy issues. CEOs should be concerned about the use and the potential loss of personal data. Company executives must also determine the accompanying liabilities, cyber security investments, and privacy implications of the information, data and analysis.
Due diligence suggests that the C-suite should review privacy protection claims by partners and providers to minimize liability risk. Whether physical tools, marketing dashboards or streaming data analytics, corporate executives and IT leaders will need to consider which streams of information result in new intellectual property (IP) and which can be converted into a revenue stream.
The IoT phenomenon will drive new information protection practices related to non-centralized computing at the “fog” and “cloud” locations. As a result, there will be a need for creative pre-engineered defenses (NIST SP 800-160), liability mitigation awareness (NIST SP 800-171), and isolation techniques for meeting early-stage IoT business strategies and successful return on investment. Meeting compliance standards even with guidance such as NIST and ISO will require security architecture decisions that focus on revenue generators.
If you are looking to pave your IoT adoption path, ask us for advice on how to protect your data and IP. Contact us today.