Intelligent CISO Issue 10 - Page 22

infographic A DigiCert’s 2018 State of IoT survey reveals security as the top concern as IoT takes centre stage with 91% of companies saying it will be extremely important in the next two years. 22 A study from DigiCert, Inc, a leading provider of TLS/SSL, PKI and IoT security solutions, has revealed that enterprises have begun sustaining significant monetary losses stemming from the lack of good practices as they move forward with incorporating the Internet of Things (IoT) into their business models. Among companies surveyed that are struggling the most with IoT security, 25% reported IoT security-related losses of nearly £257,333 in the last two years. These findings come amid a ramping up of IoT focus within the typical organisation. A total of 71% of respondents indicated that IoT is extremely important to them currently, while 91% said they anticipated IoT to be extremely important to their respective organisations within two years. The survey was conducted by ReRez Research in September 2018, with 700 enterprise organisations in the US, UK, Germany, France and Japan from across critical infrastructure industries. Top concerns Security and privacy topped the list of concerns for IoT projects, with 82% of respondents stating they were somewhat to extremely concerned about security challenges. “Enterprises today fully grasp the reality that the Internet of Things is Enterprises today fully grasp the reality that the Internet of Things is upon us and will continue to revolutionise the way we live, work and recreate. Due diligence when it comes to authentication, encryption and integrity of IoT devices and systems can help enterprises reliably and safely embrace IoT. upon us and will continue to revolutionise the way we live, work and recreate,” said Mike Nelson, Vice President of IoT Security at DigiCert. “Securing IoT devices is still a top priority that many enterprises are struggling to manage; however, integrating security at the beginning and all the way through IoT implementations, is vital to mitigating rising attacks, which can be expected to continue. Due diligence when it comes to authentication, encryption and integrity of IoT devices and systems can help enterprises reliably and safely embrace IoT.” Top vs bottom performers To give visibility to the specific challenges enterprises are encountering with IoT implementations, respondents were asked a series of questions using a wide variance of terminology. Using standard survey methodology, respondents’ answers were then scored and divided into three tiers: • Top-tier: Enterprises experiencing fewer problems and demonstrating a degree of mastery mitigating specific aspects of IoT security. • Middle-tier: Enterprises scoring in the middle range in terms of their IoT security results. • Bottom-tier: Enterprises experiencing more problems that were much more likely to report difficulties mastering IoT security. u Issue 10 | www.intelligentciso.com