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Benefits and Risks of the Internet of Things

By L. Elise Dieterich

The buzz phrase “Internet of Things” is seemingly everywhere. What is it, what can it do for us, and what concerns does it present? More specifically, while the Internet of Things (IoT) presents tremendous opportunities for businesses, are there corresponding risks, or elements of the IoT that businesses should consider staying away from?

The answer to the benefits-versus-risks question is as simple ' and as complex ' as understanding the privacy and cybersecurity risks associated with any and all Internet-connected technology, be it your personal smartphone or an enterprise-wide software application hosted in the cloud. The IoT, because it connects and communicates via the Internet, is vulnerable to hacking and malware, the same as our e-mail and computers. IoT devices also present, however, specific benefits and risks that are important for every enterprise to understand.

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