Along with the tremendous opportunity brought to the enterprise by the gadgets that hang off of the Internet of Things (IoT) comes sizable risk that organizations must assess and manage.
“Value should be considered while determining risk,” said Paul Rohmeyer, associate industry professors at the Stevens Institute of Technology, who led the “Managing Cybersecurity and Privacy Risks in IoT” session at InfoSec World 2020, noting how “cheap, small and easy to deploy and replace” the devices are. “They are exhibiting a low barrier to entry. We come to rely on them quickly.”
Despite a value that Rohmeyer said “far exceeds replacement cost,” organizations grapple with understanding the risk associated with IoT. Organizations may be lulled into thinking that they “are in a good position to manage these things because they’re based on a pre-existing architecture,” he said. “IoT systems are unique. They don’t involve people. [They are] a widespread dispersion of [very simplistic] sensors” which represent a “different usage of the internet.”
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