Be it the Education, Entertainment or Healthcare sector; businesses are changing their formats as well as working approaches to tap the emerging opportunities in the fast-paced IoT-driven economic environment. Hence brands which successfully navigate the changing landscape of market conditions are leaders in their respective fields
Be it the Education, Entertainment or Healthcare sector; businesses are changing their formats as well as working approaches to tap the emerging opportunities in the fast-paced IoT-driven economic environment. Hence brands which successfully navigate the changing landscape of market conditions are leaders in their respective fields. From traditional office devices like printers and video projectors to less obvious devices like coffee makers and refrigerators, the rapidly moving digital wave has hit almost all and no one seems to remain untouched from this revolution. To survive and grow in the cutthroat competition, IoT is the need of the time for contemporary businesses.
The Growing Virtual Threats
Each and every day, IoT connects thousands of devices around the world and probably by 2020 there will be around 24 billion IoT devices in the world. No doubt, these IoT devices are potentially transforming the lifestyle of the people by bringing them online. But, are these devices safe enough to be called a perfect invention of the mankind? No, not at all, because with numerous benefits these IoT devices also come along with a lot of risks and security troubles that can land anyone in a major mess, if not looked on in time.
These wide ranges of IoT devices create access points that have not only brought the people around the world closer but have also made it easier for the hackers to sneak into your account. Almost a year back, a group of hackers brought the power grid in western Ukraine to halt, resulting in a complete blackout in the region. This cyber attack proved that disrupting the whole organisation’s working with a group of computers is not a science- fiction imagination anymore and is a matter of great concern that needs to be resolved as early as possible.
Adopt only the Authentic Security Solutions
Although Google and Apple are doing really well by placing stringent requirements on their app stores so that all kinds of malicious applications are kept at bay, yet many fraudsters find a way or the other to penetrate into these application storehouses. They publish their application which ranges from being pure viruses to application clones. These fake applications can be anything that can easily cause data and password thefts including games or informational apps.
Some basic measures to avoid privacy of the users from being trespassed is by including technologies like face recognition, fingerprint recognition, voice recognition and geo-fencing in smartphones and payment apps. The use of these technologies can help to a great extent in stopping fraudsters from accessing mobiles from unknown locations and prevent the looping of funds. In cases where usage of such technologies is not possible, developers should turn to alternative methods that include verifications through a step-wise process like sending One Time Password (OTP) via SMS or email.
Finally, an important way to counter security attacks is data analytics that involves the collection, preservation, corroboration and analysis of the data. With the help of already available data, historical and regional information coupled with technical trends and merchant information, a lot of fraudulent activities can be monitored and blocked. In this process, Artificial Intelligence technologies can be used to detect fraudulent patterns and decline such transactions. In addition, people should always protect their machines and devices using security solutions based on multifactor authentication technology. And, they should also avoid accessing the unsecured or free Wi-Fi connections.
Have a Secured Tomorrow!
Change is the stair to success, and digital transformation of businesses is the most desired change in the era of IoT and Cloud Computing. But, this change must ensure a sustainable as well as secured growth because organizations that lack in cyber security are the soft targets of hackers and criminals.