When marketers consider the Internet of Things, they’re likely to see a ton of opportunities (and the cash rewards those may bring).
By some estimates, there will be more than 24 billion Internet of Things (IoT) devices installed by 2020 (and according to other reports as many as 200 billion connected); and more than $6 trillion invested in IoT solutions over the next five years. Heck, we at Act-On recently wrote about the possibilities, here and here.
This investment will be split among businesses, consumers and governments, all of whom will be pursuing IoT with the benign goals to: save money or time, increase productivity, or enter new markets or introduce new products.
But there are also risks – some grave – that marketers should consider and raise up for discussion during conversations with executive and engineering teams as organizations consider adopting or rolling out of some new IoT gizmo or gadget.
Consider some of the news stories from the past year:
- More than 1 billion stolen passwords and other data from Yahoo accounts
- Hello Barbie and other toys that turned out to be potential surveillance risks
- The distributed denial-of-service (DDoS) attack that shut down much of the Internet along the U.S. east coast and was caused, in part, by hijacking malware utilizing devices such as DVRs, IP cameras and baby monitors
- And the alleged role Russia and other hackers had in the U.S. presidential election
In this episode of the Rethink Podcast, we interview Rob Wiltbank, the CEO of Galois. Galois (pronounced gal-wa) is a research and development computer science company serving customers, many in the Department of Defense, around the verification of software and “where failure can’t be resolved by a reboot.” Basically, and these are my words, they make sure stuff doesn’t get hacked.
“For us, safety and reliability and security are all entangled,” Wiltbank said. “In reality, if you build a system that works only as intended, it is safe, it is reliable, and it’s secure.”