From Wi-Fi–enabled LED bulbs, to thermostats, sensors and more, the internet of things (IoT) is fast becoming embedded in everyday life.
At its most basic, the “things” in IoT are simply devices (consumer or commercial) that have embedded chips that enable the device to receive and communicate data. It is this ability that gives them tremendous power to save us time and add considerable convenience to our over-scheduled and hectic lifestyles. But, as the saying goes, with great power comes great responsibility.
Unfortunately, responsibility seems to have taken a back seat to profit. And there’s definitely a lot of profit to go around: according to Verified Market Research, a global research and consulting firm, the IoT market was valued at US$212 billion in 2018 and is expected to grow to a whopping US$1.3 trillion by 2026.
IoT security risks are both widespread and diverse. Here, then, are five noteworthy dangers associated with internet-connected devices.