# Can IoT be both secure and flexible? Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-09-17 Category: TECHNOLOGY Category URL: https://financedigest.com/category/technology Meta Title: The Rise of IoT: Security Challenges & Solutions Meta Description: Discover how IoT is rapidly growing and the crucial security concerns it brings. Learn how to balance user experience with strong security with ITRS Group. URL: https://financedigest.com/can-iot-be-both-secure-and-flexiblehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/smart-city-and-wireless-communication-network-abstract-image-visual-internet-of-things-sbi-301985211-1736837842241-compressed.jpg) _By_ **_Reza Moqadasi,_** _CISO,_ [_ITRS Group_](https://www.itrsgroup.com/) Since its inception, the Internet of Things (IoT) has grown at a steady pace – but, finally, it is positioned to break into the mainstream. Demonstrating this growth, a quarter of businesses now use IoT technology, compared to just 13% in 2014. And this expansion is only set to continue, with IoT underpinning an increasing host of new technologies, including driverless cars and smart homes. However, as IoT continues to proliferate, security becomes a crucial concern – with a number of high-profile cyberattacks demonstrating the vulnerability of IoT. Certainly, this issue has forced companies to consider what they should be doing to mitigate the risk – but it also raises a much bigger question: is it possible to balance seamless [user experience with strong security](https://www.financedigest.com/ai-is-the-new-password-security-and-ease-for-finance-users.html "AI is the new password: security and ease for finance users ")? At ITRS, we believe it is feasible, but it takes a comprehensive [security strategy](https://www.financedigest.com/2018-it-security-predictions-methods-for-attacks-investment-areas-cybersecurity-strategies.html "2018 IT Security Predictions-Methods For Attacks, Investment Areas & Cybersecurity Strategies"). **The rise of IoT and cybersecurity challenges** [Building on a steady rate of adoption throughout its early years](https://www.financedigest.com/lilium-aims-to-build-400-air-taxis-a-year-seek-grants.html "Lilium aims to build 400 air taxis a year, seek grants"), IoT is now an established class of mainstream technology. This is set to accelerate further, with the number of IoT-connected [devices predicted to increase](https://www.financedigest.com/increasing-prevalence-of-inflammatory-bowel-diseases-to-boost-leukocytapheresis-device-market-growth-fact-mr-report.html "Increasing Prevalence of Inflammatory Bowel Diseases to Boost Leukocytapheresis Device Market Growth: Fact.MR Report") to 43 billion by 2023 – an almost threefold increase from 2018. This growth is driven by a range of factors, including global consumer trends, an increasing demand for inter-connected devices, the proliferation of _5G_, evolution of [edge computing style=”font-weight: 400;”> and the adoption of](https://www.financedigest.com/fintechs-should-accelerate-into-edge-computing-to-maintain-momentum.html "Fintechs should accelerate into edge computing to maintain momentum")[_Industry 4.0_.](https://www.financedigest.com/fintechs-should-accelerate-into-edge-computing-to-maintain-momentum.html "Fintechs should accelerate into edge computing to maintain momentum") [IoT devices are brilliant in what they are designed and built for; however, typically due to their limited computing resources, they do not have adequate built-in security features. As a result, some network-connected IoT systems can potentially be a convenient target for threat actors. But the consequences of a](https://www.financedigest.com/fintechs-should-accelerate-into-edge-computing-to-maintain-momentum.html "Fintechs should accelerate into edge computing to maintain momentum") [security breach](https://www.financedigest.com/financial-services-risk-data-security-breaches-insecure-instant-messaging.html "Financial services risk data security breaches with insecure instant messaging") in an IoT device are not just limited to the targeted device: a compromised internet-connected IoT system might provide hackers with full access to the rest of the network and, potentially set the stage for a ransomware attack. **Will security problems** [hold IoT back?](https://www.financedigest.com/fear-of-failure-holding-back-british-entrepreneurs-new-research-finds.html "Fear Of Failure Holding Back British Entrepreneurs, New Research Finds") In order to put the scale of these evolving [security challenges](https://www.financedigest.com/the-challenge-of-keeping-data-secure-why-in-house-security-isnt-enough.html "The challenge of keeping data secure: why in-house security isn’t enough") in context, let’s consider a ‘real life’ use case. IoT, in combination with 5G, will form the foundation of the infrastructure on which [self-driving cars and autonomous vehicles](https://www.financedigest.com/investors-go-back-to-basics-with-simpler-self-driving-vehicles.html "Investors go back to basics with simpler self-driving vehicles") will operate. 5G will provide the expansive, ultra-reliable low latency networks which facilitate the communication, control and monitoring of the [self-driving cars](https://www.financedigest.com/upset-by-high-prices-gms-cruise-develops-its-own-chips-for-self-driving-cars.html "Upset by high prices, GM’s Cruise develops its own chips for self-driving cars"). Meanwhile, IoT devices, among other cyber physical systems (CPS), will provide the vast array of sensors, from actuators to smart vision equipment, inside the vehicles, as well as those in the outside environment as [part of the underlying infrastructure](https://www.financedigest.com/how-hyperconverged-infrastructure-is-driving-digital-transformation-in-the-financial-services-sector-part-1.html "How hyperconverged infrastructure is driving digital transformation in the financial services sector (Part 1)"). As this example demonstrates, security attacks on such [critical infrastructure](https://www.financedigest.com/hiding-in-plain-sight-finance-as-critical-national-infrastructure.html "Hiding in plain sight – Finance as Critical National Infrastructure") could potentially lead to catastrophes involving injuries and loss of life, not only for the passengers of the driverless vehicles, but also innocent bystanders. Further complicating the landscape, these security concerns cannot be attributed to any single underlying cause. Rather, they’re driven by a combination of factors, including insecure interfaces, poor device management, insufficient data protection and [skills gaps](https://www.financedigest.com/navigating-the-global-technology-skills-gap-with-ai-moderated-upskilling.html "Navigating the Global Technology Skills Gap with AI-Moderated Upskilling"). That being said, at a more fundamental level, part of this problem has been limited focus on [security or privacy](https://www.financedigest.com/privacy-vs-security-is-the-cybersecurity-information-sharing-act-beneficial.html "PRIVACY VS SECURITY: IS THE CYBERSECURITY INFORMATION SHARING ACT BENEFICIAL?") by IoT device designers and manufacturers. **What’s the answer?** There is a clear opportunity for IoT developers and architects to onboard security at the design stage and into the build as [part of the Software Development Life](https://www.financedigest.com/what-is-id-and-verification-and-why-is-it-such-an-integral-part-of-digital-life.html "What Is ID and Verification and Why is it Such an Integral Part of Digital Life?") Cycle (SDLC). What’s more, the collaboration between Engineering, DevSecOps and QA teams [needs to include joint security](https://www.financedigest.com/why-preparation-for-new-swift-cyber-security-standards-needs-to-start-now.html "‘Why preparation for new SWIFT cyber security standards needs to start now’") objectives at all stages of software and hardware production. For instance, at the moment, a common [security problem is insufficient device authentication](https://www.financedigest.com/ksmartech-expands-trustonic-partnership-to-secure-authentication-for-ios-and-android-apps.html "Ksmartech expands Trustonic partnership to secure authentication for iOS and Android apps ") and authorisation, as well as weak encryption.  A combination of multi-factor device authentication and [digital](https://www.financedigest.com/the-clot-management-devices-market-to-be-digitally-absorbent.html "The Clot Management Devices Market to be digitally absorbent") certificates would allow IoT devices to be identified and verified uniquely, ensuring that only authorised applications and individuals can gain access. **An evolving problem requires an evolving solution** While the [IoT ecosystem continues to evolve](https://www.financedigest.com/the-internet-of-robotic-things-how-iot-and-robotics-are-evolving-to-benefit-the-supply-chain.html "The Internet of Robotic Things: How IoT and robotics are evolving to benefit the supply chain ") and expand, the levels of security and privacy provisions required will also increase. As IoT devices become more and more connected to IT infrastructure, IoT exploitations will become [increasingly popular among](https://www.financedigest.com/increasing-regulatory-red-tape-promptsa-new-approachto-trading-data-management-among-fs-firms.html "Increasing regulatory red tape prompts a new approach to trading data management among FS firms") hackers. The vulnerabilities of insufficiently [secured consumer IoT devices can potentially lead to large scale incidents](https://www.financedigest.com/uks-morgan-advanced-materials-reports-cyber-security-incident-on-its-network.html "UK’s Morgan Advanced Materials reports cyber security incident on its network") for businesses. A vulnerable smart TV, doorbell or thermostat, for example, can open the door to a threat actor. This threat [becomes even more significant in hybrid working](https://www.financedigest.com/what-are-the-best-ways-to-become-more-productive-working-from-home.html "What are the best ways to become more productive working from home? ") models, which include working-from-home: once the threat actor manages to get access to the home network, other corporate or personal devices which share the same internet connection or infrastructure will also be exposed. A [business laptop on a compromised home network](https://www.financedigest.com/the-new-wifi-how-private-5g-networks-could-revolutionise-business.html "The New WiFi? How Private 5G Networks Could Revolutionise Business") can potentially contaminate the enterprise systems, or even the firm’s supply chain. **Can security be reconciled with convenience?** Convenience is one of the primary utilities of consumer IoT devices. That includes interoperability, ease of use and seamless user experience. The architects and system engineers need to consider and articulate the security and privacy [cost of convenience for consumers and businesses](https://www.financedigest.com/cutting-business-costs-pros-of-using-commercial-heat-pumps-in-2016.html "Cutting business costs: Pros of using commercial heat pumps in 2016") alike. To reconcile convenience with strong security or privacy, firms [must implement cybersecurity](https://www.financedigest.com/why-the-industry-must-simplify-cybersecurity.html "WHY THE INDUSTRY MUST SIMPLIFY CYBERSECURITY") strategies such as _zero trust_ and defence-in-depth, alongside the principles of _least privilege_. Employing such [strategies has a direct impact on improving and enhancing the security](https://www.financedigest.com/security-trumps-obesity-in-britains-first-food-strategy.html "Security trumps obesity in Britain’s first food strategy") posture of an organisation. What’s more, their adoption and implementation will elevate the [operational resilience](https://www.financedigest.com/2021-predictions-operational-resilience-takes-center-stage.html "2021 Predictions: Operational Resilience Takes Center Stage") of the organisation in the event of a cyberattack or security breach. While it is true that the proliferation of IoT [poses a number of challenges](https://www.financedigest.com/how-can-banks-overcome-the-challenges-posed-by-covid-19.html "How can banks overcome the challenges posed by COVID-19?"), there are also clear solutions. With inter-disciplinary cooperation, whereby innovators, technologists, social scientists and policy makers, among others, work together, the issues of cybersecurity and privacy can be overcome to enable the safe [development and adoption](https://www.financedigest.com/automotive-hmi-system-market-recent-industry-developments-and-growth-strategies-adopted-by-players.html "Automotive HMI System Market: Recent Industry Developments and Growth Strategies Adopted by Players") of new IoT-powered technologies, systems and concepts. (1)https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/growing-opportunities-in-the-internet-of-things (2)https://www.mckinsey.com/industries/private-equity-and-principal-investors/our-insights/growing-opportunities-in-the-internet-of-things --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---