Companies embracing IoT despite security risks

INSUBCONTINENT EXCLUSIVE:
New research from Kaspersky has revealed that 61 percent of businesses are already using IoT platforms despite the significant security
most significant growth was seen in hospitality (from 53% in 2018 to 63% in 2019), healthcare (from 56% to 66%) and finance (from 60% to
68%)
As of last year though, The IT and telecom (71%) and finance (68%) industries have embraced IoT more than all other verticals.IoT platforms
currently have many use cases including smart cities, grids, metering, transportation and logistics as well as automated manufacturing and
connected heating, venting and air conditioning (HVAC).The growth of IoT use has not been discouraged despite the high potential for
cybersecurity risks and incidents
Kaspersky's survey shows that 28 percent of companies using IoT platforms stated that they had experienced incidents involving
non-computing connected devices last year.These incidents can be critical as sensors and smart devices are able to collect terabytes of data
including sensitive information such as business data or customers' personal information
Additionally, IoT platforms can be connected to critical systems, such as traffic, power or transportation processes, which makes it vital
to ensure their continuity and integrity.In order to securely take advantage of the features and benefits of IoT platforms, Kaspersky
recommends that organizations assess the status of a device's security before its implementation, conduct regular security audits,
establish procedures for obtaining information on vulnerabilities in software and applications, implement cybersecurity solutions and use
IoT devices that are secured by design.Head of the KasperskyOS Business Unit at Kaspersky, Grigory Sizov provided further insight on the
considerable amount of effort
It demands dedicated business processes, as well as expertise, to ensure it is effectively implemented
and organisational protection measures and data privacy, as well as other factors
It is important to consider security at an early stage of IoT implementation and we want to help our customers address this task by