AAEAAQAAAAAAAAlSAAAAJGI4ZDZhMGExLTlhOWYtNDZiNy04YWVlLTJhMjg0Zjg5Yzk5MgThe Internet of Things (IoT) will power countless new businesses, enable existing businesses to achieve new heights and enrich the lives of consumers. But as 20 billion devices power up over the next decade, the security risks for IoT will be as great as the rewards. Internet of Things security is already so bad that simple search engines have indexed and provided detailed information about millions of connected devices around the world, ranging from common wearable devices to home climate systems to public security cameras.

This is the first post in the Internet of Things, Strategy Series – A partnership with experts from various fields that will target Business opportunities and systematic Security in IoT.

I spoke with John Moor, Director IoT Security Foundation on his on his understanding of where real value can be created in IoT and a successful effort to address a set of systems issues.

Pamela: John can you provide a brief description on your area of focus and interest in Internet of Things.

John: My interest is with innovation within IOT and my focus is on security – ensuring industry builds an Internet of Trust.

Pamela: What are the most promising uses of the Internet of Things?

John: Despite the hype surrounding IoT, it is clear that specific application to existing areas can bring efficiency savings. This is where IoT will take root as there is a clear business case – for example logistics, manufacturing and building automation. I think the novel consumer devices are just that – i.e. novel and the novelty will wear off quite quickly. What I get excited about is the prospect on new innovations that are enabled across market verticals – for example (and I apologise that it is an old example) – connected car services such as the roam delivery service suggested by Volvo. If you think about the prospect of moving from a physical world to the digital domain the prospects for innovation are almost endless – that’s exciting and scary in equal measures.

Pamela: What’s the biggest risk associated with the Internet of Things?

John: I have a focus on security and therefore that is front and central to my concerns. Having spent the last 18 months understanding the nature of security in IoT, and perhaps more importantly, the status of the products and systems being deployed, I can see a great many risks. The quality of security in IoT is definitely one of the biggest risks today.

Pamela: What one factor would most accelerate the benefits of the Internet of Things?

John: I am not sure there is only one factor – cost is always a consideration so that would be the starting point. Others that are frequently mentioned include the proliferation of standards (there’s too many) and security, as mentioned already.

Pamela: What’s one policy change that would accelerate the benefits of the Internet of Things?

John: no comment

Pamela: Is Internet of Things suffering from too many or not enough standards?

John: Definitely too many!

Pamela: What’s the one piece of advice for a business leader interested in the Internet of Things

John: For companies that are looking to create an IoT business I would say look at the service benefits you can offer and build your model around that… i.e. servitisation. For businesses looking to adopt IoT into their business – make sure you understand the risks (and how to respond in the event they materialize) as well as the benefits.

Pamela: I would like to thank you for your insights, John.

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