The Internet of Things: do more devices mean more risks?

Abstract

The Internet of Things (IoT) is here and evolving at a rapid pace. Encompassing a combination of products and services with smart capabilities, from connected cars to wearable fitness trackers, the Internet of Things is steadily becoming the single thread that connects every aspect of our lives. Just recently, analyst house Gartner predicted that the digital industrial economy will outpace traditional technology spending in the next few years, creating €1.1tn of economic value-add by 2020. 1 As more processes become digital and the physical and virtual worlds merge, the Internet of Things is bringing a new level of convenience to our lives. However, the downside is that we are increasingly reliant on a new and potentially vulnerable ecosystem.