However, with this growth comes the increased risk of data breaches and fraud. It has also raised concerns among privacy advocates and security experts, with many warning against the dangers of weak security protocols and constant vigilance.
In the May Intelligence of Things Tracker™, PYMNTS explores the latest news in IoT, including new innovations, security issues, and how oversight groups and governments are reacting to the growing concerns surrounding IoT.
Developments from Around the IoT World
The use of IoT technology is gaining steam in alternative industries, such as beer brewing. Sugar Creek Brewing Company in Charlotte, NC, recently made headlines for implementing IoT tech to alleviate issues with beer spilling during the bottling process. To fix the issue, the brewery utilized IoT-connected flow meters and Bosch sensors to collect and process data via IBM’s Watson platform. The problem, as it turned out, was excessive foaming during the bottling, which caused the beer to overflow.
Meanwhile, in the mainstream tech industry, companies are partnering to deploy IoT technology. Microsoft, for one, recently made a major move by acquiring Express Logic, a California-based company that develops operating systems for microcontrollers, which are key components of many IoT devices. Currently, Express Logic operating systems are installed in 6.2 billion IoT devices globally.
As the use of IoT devices grows, security concerns are continuing to plague the industry. In April, a security flaw was found in iLnkP2P, a software installed in millions of IoT devices worldwide, including security cameras, baby monitors and smart doorbells. The devices have no authentication or encryption procedures, allowing outside attackers to access the devices simply by guessing the product code.
Can Device Manufacturers and Governments See Eye to Eye on IoT Security?
More than 10 billion IoT devices are currently in operation around the globe, and 127 new ones are connecting every second, making security increasingly important. Several governments, including the State of California and the City of San Francisco, are passing legislation dedicated to securing IoT devices for their citizens. How effective are these new laws, though?
In an interview with PYMNTS, Prasant Mohapatra, professor of computer science at the University of California, Davis (UC Davis), explained the best practices to defend against hackers, and why recent IoT laws might be heading down the wrong path. Find the rest of the feature story in the May IoT Tracker.
About the Tracker
The monthly Intelligence of Things Tracker™ highlights the companies leading the way in all aspects of IoT, including data, home, infrastructure, mobile, retail, transportation and wearable applications, among others. It tracks the latest industry developments, concerns, rollouts and regulations, as well as the top players making waves in an increasingly digital space.