Benefits and Security of Internet of Things (IoT)

Internet of Things (IoT) is a term for physical devices connected to the internet which can collect and share data. Those devices can also include objects that have sensors allowing them to communicate in real time. Some examples: smart speakers, thermostats, lightbulbs, cars, fitness trackers, etc.

According to the Center for Internet Security (CIS) the IoT devices should have a connection to transmit the data as well as be uniquely identifiable, usually done through an IP address. There are multiple methods of communicating and transmitting data such as bluetooth connection, internet cloud-based service, wi-fi, etc. 

Nowadays, IoT devices are part of our daily lifestyles. It is estimated that by 2025, there will be over 20 billion IoT devices around the globe. Moreover, IoT is considered one of the 12 most important technological trends of the future.

The benefits of IoT are evident, however, we keep seeing high-profile attacks occurring which creates an additional barrier for many businesses to adopt this technology. A research on the consumer attitude towards Internet of Things in Australia, Canada, France, Japan, UK and US revealed that 63% of consumers find connected devices "creepy". 

According to EDUCBA the 5 top benefits of internet of things for businesses are:

1. Achieving customer-centricity - customer satisfaction is a crucial factor for any business, and using IoT technology could enhance the customer experience such as mobile card readers.
2. Gathering rich data - data is one of the most important 'weapons' in a company. Businesses are using the IoT models and methodologies for gathering a huge chunk of data about customers and company products.
3. Enhancing Security Measures - IoT enables the access control system to provide additional security to businesses. The use of IoT technology in surveillance can help to improve security standards and also track any suspicious activity. With the help of the internet, it can be controlled from anywhere. Using IoT technology in the business can boost the security standards and help to eliminate the risk of security concern. 
4. Reducing operations costs -  advancement of IoT technologies can benefit the organization to reduce their operational cost and other costs to earn maximum profit. Businesses can reduce their operational cost but those using IoT solutions for their purpose will be more successful.
5. Using smart devices - the use of smart devices has increased significantly and is accepted by businesses. There is an advancement in smart device applications and used in different sectors such as transportation, hospitality, healthcare, and education.

IoT is booming so is the number of attacks and security threats. It's immensely important to consider user safety and data confidentiality. 

The Knowledge, Innovation and Strategies Management Club, as part of the EU project - Internet of Things Security Nuggets (IoT Nuggets), co-funded by the European Union. along with its project partners from Bulgaria, Greece, Spain and Italy are developing a new methodology and framework with a model of digital competence for the Security of the Internet of Things (IoT) ecosystem including security and privacy to face the challenges that cybersecurity put in place.​
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It is targeting VET providers and trainers in the ICT field, software engineers and programmers who want and need to update their competences, skills, and knowledge in cyber security of the ecosystem of IoT. And, ICT entrepreneurs who have, want, and/or would like to start a business in the IoT field.
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