New Research Shows IoT and OT Innovation is Critical to Business but Comes with Significant Risk
The Internet of Things (IoT) and operational technology (OT) are becoming increasingly critical to the success of many businesses. IoT refers to the interconnected network of physical devices, vehicles, buildings, and other objects that are embedded with sensors, software, and network connectivity, allowing them to collect and exchange data. OT includes the devices, systems, and networks that are used to control and monitor industrial processes and critical infrastructure.
New research suggests that IoT and OT innovation is critical to business as it can help companies gain new insights, improve efficiency, and drive new revenue streams. However, the same research also shows that IoT and OT also come with significant risks.
One of the main risks associated with IoT and OT is the potential for cyberattacks. As these systems are connected to the internet, they are vulnerable to hacking and other forms of cybercrime. This can lead to data breaches, loss of control over critical systems, and even physical damage to equipment.
Another risk is the potential for human error. As IoT and OT systems become more complex, there is a greater chance that something could go wrong, either through a mistake or lack of understanding of how the system works.
Finally, there is also a risk of regulatory compliance. IoT and OT systems can generate large amounts of data, and companies need to ensure that they are in compliance with regulations related to data privacy and security.
Overall, businesses must weigh the potential benefits of IoT and OT innovation against the risks, and take steps to mitigate those risks through the implementation of proper security measures and governance.
This blog explores the security risks inherent with IoT/OT and concludes adoption is critical even with the security challenges. In addition, it provides a link to a collaborative report from Microsoft and the Ponemon Institute highligting data on the state of IoT and OT security from a customer’s perspective. Read the blog for a review of the research and quantified findings.