New Solutions Reducing IoT Security Risks

The Internet of Things (or IoT) has been a vital tool in almost all business landscapes and even our daily lives, thanks to its accessibility and convenience.

IoT has been the main tool in connecting devices among users and organizations, with its ability to generate data and enable more intelligent experiences across all verticals—from health trackers and smart appliances, to autonomous delivery vehicles and AI-enabled interactive packaging. 

However, businesses looking for IoT development services have a major challenge in front of their eyes: ensuring data privacy for end-users. 

Understanding IoT security risks

Modern IoT ecosystems are complicated. Machines, devices, sensors, and servers are connected and configured to transmit data over cellular networks.

Since IoT devices deal with a vast amount of data, it makes them prone to data breaches and threats. IoT security tools ensure the integrity and confidentiality of the IoT network, especially if it scales and expands geographically.

Here are some considerations to overcome IoT security risks in any business setting: 

1. Ransomware

With the rise of connected devices comes the growth of ransomware attacks. These incidents occur when hackers lock users out of their devices and threaten to publish their personal data, or block access unless a ransom is paid.

To prevent a ransomware attack from occurring, businesses must conduct regular data backups and segment data and critical networks from access by IoT. 

2. Brute-force attacks

Brute-force attacks occur when hackers use trial-and-error to guess login info or find a hidden web page with the hope of eventually guessing correctly. Attackers systematically check all possible passwords and usernames until the correct combination is found. 

Unfortunately, almost all IoT devices are vulnerable to password hacking because of weak login credentials, or manufacturer passwords not being changed. Therefore, login details must be changed regularly. Companies must also install robust firewalls to ensure that devices are not compromised.

3. A lack of knowledgeable talent 

While the IoT world has grown by leaps and bounds, we still have a long way to go when it comes to offering top-notch IoT product development services.

There is a massive IoT skill gap in the market, and it is preventing businesses from tapping the full potential of the technology. Business owners must train and upskill their current developers. That way, they will know how to set security systems in place and help keep attacks from happening. 

5. Poor updating mechanism

IoT products are designed to keeping ease of use and connectivity in mind. They may be secure when you purchase them, but the technology needs to be constantly updated to ensure the utmost security. 

Keeping your data and systems secure

Companies must leverage intrusion prevention tools such as antivirus software and firewalls to ensure that network connections between IoT devices and backend systems are kept safe. 

Data security analytics solutions must also be set in place to ensure that IoT-specific data is kept secure.

In addition, developers must set authentication mechanisms in place for employees, such as digital certificates, biometrics, and two-factor authentication. For a safer connection between IoT systems and backend systems, complete encryption key lifecycle management must also be observed.

Data security must not be taken lightly. Vulnerability risks are very real and relevant in this day and age. Other than protection, IoT security solutions must be set in place to make sure that issues are addressed proactively, without hampering company operations.

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