Technologists have predicted the growth of billions of internet enabled and connected devices in the coming years, facilitating productivity and efficiency in consumer lives, but also drastically increasing the attack surface for hackers to exploit.
Security is a significant concern in Internet of Things (IoT) deployment. This concern is at least in part because of the increasing number of widely publicized hacks in virtually every industry, from nuclear power plants to retail firms and healthcare devices. Assuming IoT predictions hold, the attack surface will significantly expand to all types of products we use in our daily lives, such as light bulbs, thermostats, power meters, baby monitors or even pace makers.
The current Industrial IoT marketplace does not incentivize producers to build in these security features or processes into IoT products, nor is there public awareness that drives demand for such security. There is a danger that producing the cheapest and most insecure devices will cause negative externalities. New strategies and diverse stakeholders must come together to address the challenges caused the growth of IoT.
Where awareness of the importance of security in IoT is still lacking, this network will develop education and outreach programs for business and government leaders to recognize and understand how to create the foundations for secure and safe IoT applications. This network will also create a normative framework to align incentives in support of security and safety, especially for industrial IoT applications, that offer stakeholders across sectors and industries guidance on IoT implementations.
The purpose of this network is to increase security in Industrial IoT platforms and ensure the industry grows in a way that is aligned with public safety. It is the goal of this network to realign incentives, combining supply and demand side strategies to improve the marketplace for Industrial IoT security. This network can build on and augment the work that organizations like UL have committed to in other industrial and consumer sectors.
On the supply side, the network can facilitate discussion around regulatory approaches, such as insurance, product liability or tax, and bottom-up strategies, such as industry led self-regulation and public-private cooperation. The network can also provide a forum for discussion on demand-side approaches to improve consumer awareness through education and outreach.