Companies who don’t provide data security will lose out.
This article states that the Internet of Things (IoT) is deeply embedded into consumers’ lives, making security and data a key component of all IoT ventures. The author says that brands are faced with challenges when it comes to using IoT effectively to improve the quality of life, create value and reduce costs.
The increased connectivity also raises concerns of cyber-attacks and misuse of data. The author opines that Google and Amazon’s home assistants are succeeding because they have identified patterns in users’ daily lives, created personalised suggestions based on interactions and have the capital and resources to protect user data.
The new industries delving into IoT don’t have the intuition to understand the vulnerabilities of their connected products. Only companies who secure user data will be able to thrive.
[5 minute read]