At the recent annual World Economic Forum (WEF) in Davos, cybersecurity was a top concern by business and government leaders. There was pressing anxiety about cryptocurrency ecosystems, election security, cyberwarfare, airline computer systems and chips.
And connected products and services are increasing and creating more questions. Researchers forecast that as many as 300 billion items will be connected by 2020 and 500 billion devices by 2030. Innovations including augmented reality, artificial intelligence, and the Internet of Things (IoT) are transforming the global landscape in unprecedented ways.
At CES 2018, companies showcased amazing implementations based on IoT — from smart cities and smart/digital health to smart homes and self-driving vehicles — but how secure are these devices that eat excessive amounts of personal data? Every app and connected device is a potential entry point for cyber-attackers.
As the number of IoT devices balloons, hackers will find new ways to uncover secrets and protocols to access backend services and bypass access controls in data centers; hijack nodes to deny services, demand ransoms, steal data or forge transactions; run unauthorized transactions that could affect patient safety; and new schemes that have not been discovered yet.
“Cyberattacks are perceived as the global risk of highest concern to business leaders in advanced economies,” reports WEF in its Global Risks Report 2018. “Cyber is also viewed by the wider risk community as the risk most likely to intensify in 2018.” New risks require new tools and models to help manage and mitigate the impact of a breach before data is stolen or nefarious activities are played out.
A new model for a global security platform is needed that combines governmental and private collaborations to counter these challenges. In January, WEF launched the Global Centre for Cybersecurity to facilitate this public-private cooperation.
How can businesses bake rigorous security into the DNA of their products from the beginning? When it comes to cyber warfare, do we engage in “active defense”? As we work through these issues, ourcommon goal is to continue to confidently harness innovation to impact people, society, and the planet for the greater good.
i3, the flagship magazine from the Consumer Technology Association (CTA)®, focuses on innovation in technology, policy and business as well as the entrepreneurs, industry leaders and startups that grow the consumer technology industry. Subscriptions to i3 are available free to qualified participants in the consumer electronics industry.